Selling a home on your own is not as easy as it sounds. The real estate market is much different than it was five or ten years ago. Online marketing has exploded, and real estate agents have continued to perfect their craft. This is why For Sale by Owner (FSBO) properties usually don’t sell well. Today we have five reasons why a FSBO sale isn’t a good idea for you.
- There is too much negotiation involved in a transaction.You will have to deal with lots of different people such as investors, buyer’s agents, inspectors, lenders, title companies, insurance agents, and more. As the seller, you’ll have to negotiate with these people who are being represented by professionals. You need professional representation if you want to sell quickly and for top dollar.
- Exposure to prospective buyers is much higher when you sell with a real estate agent.We can market your home on hundreds of websites to thousands of prospective buyers around the world. The NAR has found that 93% of purchasers originally found their homes online.
- Actual results come from the Internet.The web is huge for selling homes. You can no longer stick a sign in your yard and hope to sell. It’s been found that only 2% of homes are sold from a yard sign and only 1% from newspapers.
- FSBO sales are becoming more difficult.Federal regulations from the housing recession in 2007 have added a ton of paperwork into the process. If you aren’t fully aware of what’s going on, your transaction could become very difficult. Nearly 70% of a real estate transaction is paperwork.
- Nearly 97% of FSBO sales attempts fail.When it really comes down to it, those 3% of sellers that succeeded just got lucky that someone found their property. We would also bet that those 3% of sellers didn’t come close to getting top dollar for their properties.
If you need help selling your home in Northern NJ, please don’t hesitate to contact us. We look forward to hearing from you!
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