April 8, 2019
Take control back from agents
Are you debating about selling your home? You may also be the type of owner who is trying to decide on whether to sell the property on your own.
It is possible to take the “For Sale By Owner” (FSBO) route, get a great sales price and sell within a reasonable period of time. Check out these ten reasons to sell your home by yourself.
1: Financial Savings
Most owners take the FSBO route because of the financial savings. Some people simply can’t afford to lose 6% of their equity ($60,000 per $1million of home value) due to financial restraints caused by divorce, loss of job and bankruptcy. Others simply make a considered choice not to give away their home equity to middle-men for a task they can do themselves.
As 6% equity equates to 20% of equity for someone with a 70% mortgage, a huge amount of money can be lost in selling with agents. By selling independently, you can keep your equity and reinvest it in your future, not an agents.
2: Controlling the Sales Process
You gain control of the entire sales process, from deciding on how to market and advertise the home, to handling the closing transaction. No waiting for your broker to call you back and respond to a buyer – you control the timeline.
3: Negotiate Directly with Buyers
You don’t have to rely on a middleman to handle the negotiation process with buyers. It allows you to speak one-on-one with the interested person, gauge their interest, and come up with a counteroffer that best suits the situation and your real estate goals.
4: Time Savings
Real estate agents and brokerages will be sharing their resources, work and time with other sellers, which can lower how much time they spend on selling your home. By going the FSBO, you can save time while placing the right amount of resources into marketing the home.
5: No One Knows Your Home Better
As the homeowner, you know the best features of your property. So this inner knowledge gives you an advantage to really present the house in the best light and highlight features that the new owners would be interested in.
6: Flexibility with Showings
A buyer may want to see a home during a time which isn’t convenient to the sales agent because they have other obligations to another seller. When you take the FSBO route, you can perform showings on the days and at the hours that accommodate prospective buyers.
7: Previous Bad Experience with Using Brokers
A great reason to take a FSBO route is because you had a previous bad experience with a brokerage. They may have slacked off with advertising a property, didn’t pursue a sales lead, or ruined the negotiation process. By taking control, you don’t have to be in fear of these issues recurring as you will be in control of the process.
8: People are More Business Savvy
In this day and age, people are more business savvy about residential real estate. There are numerous free consumer facing websites that show comparable sales information to allow a homeowner to choose a competitive listing price. As 90% of buyers start their search online, listing a home online is a great way for an independent seller to reach potential buyers, without paying expensive broker fees.
9: Meet the New Buyers
You might be the type of person who wants more interaction with the new buyers to make sure that the house goes to a great family who will take care of it.
10: Online Marketing Resources for FSBO sellers
The Internet provides tons of resources to help FSBO sellers in their endeavors. The Richr platform provides an innovative digital marketing platform, for free, so a seller can market their home everywhere.
If you are getting ready to sell your home, consider the FSBO path. Check out the above reasons on why selling your home independently with Richr might be the best method for you.