Trying to sell your home on your own means trying to do by yourself what real estate professionals do every day. 

What does “For Sale By Owner” mean?

• Price and position your property in the marketplace
• Professionally market your home online, direct to buyers and exstensively to the network of local real estate professionals
• Manage showings, meet buyers, conduct open houses
• Handle paperwork, disclosures and other legal issues
• Help potential buyers obtain financing

          What sellers who sold their homes did not realize….

• 49% of sellers who sold their own home say they “did not want to pay a commission” or fee.
• 26% sold their home to a friend or relative
• 11% were contacted directly by a buyer
• 4% did not want to deal with an agent

Selling your own home usually does not result in the best price. The median selling price of FSBO was $172,000 compared with $215,000 for agent-assisted home sales.  Sellesr who “did it themselves” realized a 20% lower sales price.

Major Problem Areas for FSBOs

• Many FSBOs are not prepared for the complexities of the real estate transaction. As a result, they often lose potential buyers and valuable marketing time.
• They may also face certain risks with respect to paperwork and legal issues.
• 15% said they understood the paperwork involved
• 15%said they were able to set the right price in the marketplace
• Only 5% could help buyers obtain financing
• 13% said they sold within the length of time they had planned on
• 5% said they had enough time to devote to all aspects of the sale

Understanding the limitations of “For Sale By Owner” is crucial  in today’s marketplace.

Source: 2009 Profile of  Buyers and Sellers, National Association of Realtors (NAR) research