On the face of it, a for-sale-by-owner (FSBO) sale may seem a perfect way to save a lot of money and is therefore very appealing for many sellers. But is it as good as it seems, really? Well, the typical commission of agents is about 5% to 6%, so there is the opportunity to save several thousand dollars. However, there are several disadvantages to mitigate possible savings, which are indeed not savings if you consider the usually lower selling price for an FSBO listing. So let’s take a look at 5 failures with an FSBO listing to sell your Atlanta home.
1. Lack of Time and Flexibility
Selling houses is an agent’s full-time job, but you do have a full-time job already. If you go to sell your Atlanta with an FSBO listing, it is very likely that you won’t have the time to do it properly.
In fact, all the claims most individuals have on their time-work , family obligations, social responsibilities, etc.-will prevent them from having the requisite flexibility. Requests for presentations from prospective customers may arrive at any time of the day or night and sometimes on very brief notice. Can you quit work or a family party to meet a buyer at any time? Probably not.
Your agent, however, is eager and can do this. Only call (404) 341-4449 to find out more about the benefits of the time interaction and experience of an agent.
2. Limited Marketing Reach
A key element in selling a house quickly and at a good price is marketing, particularly online marketing today. Sure, you can do your own marketing with an FSBO listing. But is it truly going to be enough to get the job done?
When you decide to sell your Atlanta house with an FSBO listing, you will most probably not have the marketing scope your local agent will have. “Those people would probably have little interest in spreading the news that your house is for sale, even though you have a broad personal or professional network. In order to get the greatest pool of potential buyers to your house, you don’t have relationships with consumers, other agents or a real estate agency. A smaller pool of potential buyers means less demand for your land, which can mean waiting longer to sell your Atlanta home and probably not having as much money as your house is worth.”
3. Inability to Vet Buyers
Vetting (or qualifying) buyers is another significant part of the home-selling process. You just don’t want to waste time on mere tire kickers. Many vendors do not have the expertise to do a decent job of this on their own. If an obvious buyer who wants to see your home is actually a qualified buyer or someone who is just curious, an agent, on the other hand, can say pretty easily.
If you plan to sell your Atlanta house with an FSBO listing, you will have to disrupt your life and place it on hold several times to show your Atlanta home, and several of the buyers will not be serious buyers. But agents are qualified to ask qualifying questions in order to assess a prospect’s intensity, qualification, and motivation. They are able to move a trained and driven customer to the point of purchase. This preparation and skill set is absent from FSBO sellers.
4. Lack of Negotiating Skill
And what about negotiating the highest possible price and the best deal? Do you have the ability, experience , and skills required to negotiate effectively? These important items are owned by most brokers, most definitely having done hundreds of transactions.
In this region, two major downfalls of an FSBO listing are that sellers usually have an emotional obstructive attachment to their home and do not have knowledge of local market customs and conditions. With regard to the latter,'[a]agents know the business pulse and what drives demand, which gives them an edge by understanding what conditions are worth bargaining for and which are worth allowing the other side to win. In addition,.. Agents know the local customs for selling a property, such as if fees such as transfer taxes and closing costs are usually charged by the buyer or the seller.
5. Legal Risk
Finally, are you able to take on the legal risk of selling with an FSBO listing typically involved?
Selling a house requires a lot of paperwork, all of it legally complicated documentation that a specialist in the field needs to complete correctly and regularly. The seller’s disclosures are a clear example of this. You may be held responsible for neglect, fraud, and/or breach of contract if you do not report anything about the property correctly and properly.
The majority of the responsibility of legal liability transfers to your agent when you go through an agent instead of using an FSBO listing. “Your agent probably knows more than you about disclosure laws. If you fail to report a threat, nuisance, or flaw, and the buyer returns to you after moving in and finding a problem, you can be sued by the buyer. Agents to cover themselves and allow the buyer redress, they have professional mistakes and omissions insurance, so the buyer does not need to prosecute the seller for damages.”
A Better Option than an FSBO Listing
Obviously, then, a safer choice is to use an experienced local real estate agent. If you’re willing to sell your house in Atlanta.