Episode 9: Why You Should List Your House FOR SALE BY OWNER
Should you list your house For Sale By Owner? Here are FOUR MAJOR BENEFITS and reasons why you should list your house For Sale By Owner (FSBO) and why you should stay the course!
YouTube Video version of this episode available here: https://youtu.be/d0ydYxpBx-c
Here are the top 4 benefits and reasons why you should sell your house For Sale By Owner...
BENEFIT #1 - Commission Savings
By listing your property For Sale By Owner, you can avoid paying a commission to a listing agent. It's up to you whether or not you want to offer a commission to a buyer's agent if they bring a buyer for your house.
If you want to avoid paying a buyer's agent commission, then check out Episode 7 of the "Your House, Your Equity!" Podcast: Home Seller's Edition here: https://www.yourhouseyourequity.com/podcasts/your-house-your-equity-podcast-home-seller-s-edition/episodes/2148242778
BENEFIT #2 - Control
One of the biggest reasons why home sellers choose to sell FSBO is for complete control of their transaction. Having an agent involved limits the amount of influence and freedom you can have during the sales process.
BENEFIT #3 - Transparency
As the homeowner, you can give quick and thorough answers to a potential buyer's questions and provide tremendous value for the future owners of your home. Many buyers want as much information about the house as possible before they buy, so working directly with the buyers gives you a chance to share that information and form a relationship with them. This can make for a smoother and more enjoyable process for everyone!
BENEFIT #4 - Flexibility
If you are in direct contact with the potential buyers during the showing and negotiations, you can hear their objections and have an opportunity to overcome them. With an agent in the middle, you will lose the ability to be flexible and creative as you look for a way to seal the deal.
This is especially important if you plan to offer an incentive to get buyers who are on the fence to take action! To learn more about how to use incentives to encourage a full-price offer, tune in to Episode 4 of the "Your House, Your Equity!" Podcast here: https://www.yourhouseyourequity.com/podcasts/your-house-your-equity-podcast-home-seller-s-edition/episodes/2148165730
If these benefits convince you to sell your house For Sale By Owner, it's important to keep in mind that you will likely meet some resistance from real estate agents. Here are some common things that real estate agent may say to deter you from selling your house For Sale By Owner...
STATISTICS
Some real estate agents may say that, statistically speaking, houses listed with an agent sell for a higher amount. In reality, these statistics take into account a broad range of property sales including many skewed markets which make them irrelevant to individual situations like yours.
You do NOT have to be a statistic! If you price your home appropriately within your local market, a buyer is likely to come regardless of whether or not your house is listed by owner or with an agent. If you want to know what your house is truly worth to price it accurately, you can have a private appraisal done on your home by a licensed appraiser.
MAXIMIZE THE DEMAND
Real estate agents may say that by listing with them, you will maximize the demand for your property by having your house listed in the MLS. In reality, you can still have your house listed in the MLS without paying a traditional listing agent commission. There are many MLS agents who will list your property in the MLS for a flat fee which will gain the exposure you're looking for without sacrificing control or commission.
If you want to have your house listed in the MLS, we can connect you with a reputable listing agent who can get the job done! To get connected, click here: https://www.yourhouseyourequity.com/mls
READY AND ABLE BUYERS
If an agent says they can bring you "ready and able buyers", what they are really saying is they don't have a buyer for you right now - otherwise they would be calling saying that they already have a buyer who is interested. If they already had a ready and able buyer, they wouldn't need to list your house! Even if you did list your house with an agent, you would still have to wait for a buyer anyway, so you might as well stay the course and wait for a buyer to come and save yourself the commission.
NEGOTIATION SKILLS
Real estate agents are only responsible for passing offers between parties, not negotiating. If your house is listed with an agent, they will act only as the point of contact for incoming offers and will only relay these offers to you. Agents create a barrier between you and the potential buyers, so you are essentially blind during the negotiation. This eliminates your ability to work around objections because you will likely never get a chance to hear what the buyers are saying directly.
LEGAL LIABILITY
Agents may tell you that when you sell your house For Sale By Owner, you are at a much greater risk for legal liability when it comes to paperwork. To eliminate this risk, we encourage you to hire a paperwork professional, such as a real estate attorney or title company (options vary depending on your local laws) who can handle the paperwork for you.
As you can see, there are many reasons why every homeowner should consider selling their house For Sale By Owner! But if you decide that FSBO is not for you, you can still list with a real estate agent and save on the commission. To get connected with an agent in our network who will list your property at a reduced rate, visit our site here: https://www.yourhouseyourequity.com/agents
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