4 Reasons Why Selling Your Home For Sale By Owner May Backfire

If you are considering selling your Eastern Pennsylvania or New Jersey home on your own, which is commonly known as For Sale By Owner (FSBO), you’re not alone. It can be tempting to try to do it on your own but here are a few reasons it may not be a good idea and may backfire.

1. Negotiations- When it comes time to negotiate the sale of your home are you skilled in all aspects of negotiation? Be prepared to deal with a buyer who wants the best deal possible on their end, and who may have a buyer’s agent with them who solely represents them and is not worried about your best interest.  Do you know how to negotiate with home inspection companies that will be working on behalf of the buyer, and will without a doubt find a problem with your house?  These are just a few examples of things that will be negotiated throughout the real estate process and a mistake on your part could cost you greatly.
2. Reach Rate- The more exposure your home has the more likely it is to sell. Studies have shown that nearly 90 percent of buyers start their home search online.  An experienced Realtor has proven marketing strategies designed strictly for the internet to help your home gain the most exposure.
3. FSBO Is Becoming More Problematic- The amount of legal paperwork that comes along with selling or buying a home has jumped drastically in the industry. On top of the mounds of paperwork, regulations have recently changed as well.  Selling your home FSBO has become more problematic as a result of the overload of paperwork involved.   According to the National Association of Realtors (NAR), the number of home owners selling their home FSBO has decreased from 19 percent to 8 percent as a result of the complexity involved in the last 20+ years.
4. You Won’t Make More- Let’s be honest, the only reason most people choose to undergo the stress of selling their home FSBO is an attempt to save money. In reality, you probably don’t realize that buyers are looking specifically at homes that are FSBO so they can save money too. As a result, the home sells for less.  A 2015 study by NAR showed that the homes FSBO typically sold less than the selling price of agent-assisted homes.  Those looking to buy a home listed FSBO are out to get a deal. Is your time and stress really worth the little amount you will save choosing to forgo listing your home with a Realtor?

The bottom line is when it comes to one of the biggest transactions of your life the help of a professional is needed.  Hiring an experienced Realtor has many advantages, and they bring the vast knowledge and expertise to the table.

If you are looking to sell your Eastern Pennsylvania home  the Silva Group is here to help. The Silva Group is comprised of Eastern Pennsylvania and New Jersey’s best and brightest in the real estate industry.  If you are considering buying or selling your home we would love to help. Our team is more than a bunch of real estate agents packed into an office – we are friends and family members who all have one passion – to provide the very best real estate experience possible to our clients.