For Sale by Owner: Is Going it Alone Worth the Savings?

Filed in What's Hot? by on September 25, 2017

Jupiter, the Palm Beaches and the Treasure Coast are popular places to call home, so some sellers assume that their homes will sell quickly and with few complications. It can be tempting to sell your Jupiter home by owner, but is the cost savings really worth it? Before you decide, consider the following questions:

Do You Know the Local Real Estate Market?

There’s a reason why real estate agents earn their commission. It’s hard work to sell a home. Even if you are familiar with the Jupiter real estate market, it takes consistent research to sell a home.  FSBO sellers often price their home to high, causing it to linger on the market.  Though not as common, FSBO sellers are also known to undervalue their homes. Pricing a home right involves intimate knowledge of the South Florida real estate market and its trends. An experienced real estate agent will help you to understand the market and its ups and downs while explaining when the best time to sell may be.

Are You a Marketing Pro?                                                                                

Keeping your home clean, organized and ready to show at any time is important, but there’s more to marketing a home than tidying up, distributing some flyers and placing a “for sale” sign in the yard. You’ll need to take top-notch photos, understand how to list your home on real estate websites and in the MLS and get the word out to buyer’s agents. It’s also helpful to have an expert on your side who knows how to stage your home appropriately and prepare it for showings.

You’ll likely need to rely on your personal and professional network to make a sale. If you’re not a real estate expert, do you have the contacts in place that will help you market your home effectively? The smaller the buyer pool, the less likely it will be for you to sell your home at the price you need to, another factor to keep in mind before taking the FSBO route.

Another factor to consider is your personal and work schedule. Potential buyers won’t necessarily work on the same timeline that you do. You’ll increase the chances that you’ll sell your home quickly and for a good price if it’s available for showings. If you’re at work or at a social engagement, you’re not at home and able to show your home. You’ll also need to be prepared to be around on the weekends. Working with a professional real estate agent can help you to avoid scheduling snafus.

Are You Prepared to Work With Buyer’s Agents?

In many cases, buyers rely on real estate pros to help them find a home. Once the home is sold, a seller is often expected to pay a commission which represents a certain percentage of the purchase price. If you’re not willing to work with buyer’s agents, you’ve automatically minimized your buyers pool and, no matter how professional you are, some agents will still be hesitant to even show your property because they’ve been burned in the past.

How Tied are You to Your Home?

Let’s face it, when it comes to your home, it’s hard for emotions not to get involved. During the sale process, potential buyers will give their thoughts on your home, no matter how critical. Sometimes as a seller, this is hard to hear.

Keep in mind that when you’re selling a home on your own, that means that you are showing it to potential buyers. This makes some buyers nervous, and they may be hesitant to ask important questions because you’re around. No matter how subtle your tactics might be, there’s still the added pressure for buyers who could be afraid of hurting an owners feelings.

Selling a home is also an exciting process, and it can be hard not to show your excitement when a potential buyer comes along. An agent can help you to keep emotions in check and deal with rejection in a constructive way.

How are Your Negotiation Skills?

Even if you have previous experience in sales, negotiating the sale of a home is a tricky process. If the buyer is working with an agent, they probably negotiate Jupiter home sales on a regular basis. Do you really know the strategy behind offers and counter-offers?

There’s a lot of back and forth that happens during most home sales and it’s easy to get overwhelmed. The overwhelm of putting together a proper contact can also leave you agreeing to terms that you weren’t fully aware of. There are also specific timelines that most transactions follow and without the help of a licensed agent, you could be thrown completely off track.

It’s also vital to keep in mind that there is a great deal of legal paperwork to be completed during a home sale. If any portion of this paperwork is not completed properly, this can leave you open for a breach of contract lawsuit. Agents understand the process and will help you avoid any legal trouble that could arise during the sale process.

So Will You Really Save Money?

Once you’ve prepared your home for sale, marketed it and listed it, will you really be left with more money in your pocket? The answer really depends, but unfortunately, not al FSBO sellers are so lucky. Without the help of a professional, you may end up with a lower sale price, extended time on the market or even unexpected legal fees, all things to consider before you decide whether to sell your Jupiter home on your own.

Are You Ready to Sell Your Home?

If you’re ready to sell your home with an experienced real estate professional, reach out to the team at the Lillian Realty Group. We know the Jupiter real estate market and have the skills, resources and contacts needed to effectively market your home. Even if you’ve already tried the for sale by owner route, we can help you to overcome your challenges and get your home sold. Contact us today to get started.

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