Thread: Pro's & Con's: For Sale By Owner

[FONT=Calibri][SIZE=3]Buyer: Nine times out of ten, the stupid owners are either 1) Never home or 2) Only have showings on the weekends and even then, when the prospective buyers know this, the owners STILL don

I suggest you read [SIZE=3][URL="http://honest-but-ugly.com/post/1308121/8-reasons-why-you-should-work-with-a-realtor-"][FONT=Arial]8 Reasons Why You Should Work With a REALTOR

While many agents look down on "For Sale By Owners", we certainly can't fault someone for trying it on their own. If you aren't that motivated to sell, then trying to sell on your own may be good for you. Also, if you are a controlling person, someone who likes to have things done only their way, selling by owner is also ideal as you may not be the type of person that could deal with having an agent. However, keep in mind that selling by owner, especially in a down market, is not an easy thing to do and most people selling by owner fail. Real estate agents have a full time job of selling homes, and in essence, if you decide to sell your own home, you are taking on the responsibility of a full time job. If you are busy person and work, plus have a family, social life, etc.., taking on this task may not work for you. Your home will never get the exposure to the masses of buyers that an agent will give you, so keep this in mind if you try to sell on your own. Also, selling by owner means that you won't have the benefit of an agent to screen potential buyers to make sure they are qualified to buy. You will end up dealing with a lot of tire kickers because the real serious buyers most likely have an agent. Whatever you do, we wish you the best.

The commission is negotiable and make sure you sign a listing agreement that is not long.

The primary reason for a seller to try selling by owner is to save the commission. Unfortunately, buyers looking at FSBOs are also trying to save the commission and feel that the seller should discount their home at least that much below market value as established through the MLS. Rarely do both parties ever come to a meeting of the minds in this case. Pretty soon emotions cloud reason and negotiations break down.

And seldom are all contingencies covered so that both parties are protected contractually. Inevitably some important legal paperwork is not represented properly, paving the way for future lawsuits.

When both parties are represented by professionals, all the legal ramifications can be squared away up front and emotions can be left out of the transaction.

Sellers are wise enough to sell their house(owner) to get their commission in full. But there are ways to deal with the things that are negotiable like the price and the things that involve the property. Ask for more suggestions and hope you'll get answers.


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