Thinking of going FSBO? Read this first!
When real estate begins to look like a “seller’s market” with rising home prices and strong sales, some homeowners assume it would be easy to sell on their own. Often, the sole motive behind a FSBO sale is to avoid paying a commission on the home sale. If this is your only motive for taking on the work and stress of selling your own home, it’s insufficient for the risk!
Here are some of the risks facing a Charlotte FSBO:
- Property fails to sell after you have invested valuable time and money attempting to market it yourself.
- Sale of home falls through because the buyer was not vetted in advance, and was unable to obtain financing.
- Safety and security risks that come with allowing strangers into your home without proper vetting.
- Legal challenges that come from violation of Fair Housing Act laws, or from improper contractual procedures, or from omitted details or disclosures.
- Selling the home for less than full market value, due to being out-negotiated, or from being frustrated by the selling process, or because of erroneous value estimates.
- Sale of home falls through because the bank appraisal comes in for less than your sales price. Unless your buyer is willing and able to pay the difference in cash, the deal is void, as the lender will not see sufficient collateral value for the mortgage.
Top reasons for using a real estate professional to sell your home:
- An agent does not get paid any commission unless your home sells at a price that is agreeable to you. The agent pays for all marketing services up front, and receives no compensation or reimbursement unless your home sells.
- An agent will screen prospective buyers and verify that they are ready, able and willing to buy.
- An agent has special training, ongoing education and experience covering contractual matters and real estate laws. While he or she cannot give you legal advice, your agent can protect you from the common pitfalls involving contractual issues, and ensure compliance with Fair Housing laws.
- Agents sell homes for a living. They are skilled negotiators, marketers, advisors and problem-solvers who work tirelessly for the benefit of their clients.
- Agents sell homes for more money and in less time than typical FSBO transactions, according to statistics from the National Association of Realtors.
- Your agent has additional resources through a vast network of industry professionals, offering personal referrals that connect you with trustworthy, local service providers.
Contact us today for your free, no-obligation sales consultation!