So you have decided to sell you Vero Beach home and you know that homes are selling fast as you see your neighbors’ homes going under contract. You may think that you can do it yourself by posting a For Sale By Owner sign on your front yard.
Few homeowners consider trying to sell their home on their own without the assistance of a real estate professional, known as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for most sellers. Following are 5 reasons.
1. There Are Too Many People to Negotiate With
This is a list of some of the people that you must be prepared to negotiate with should you decide to FSBO your Vero Beach home.
- The buyer who wants the best deal possible and has searched Trulia, Zillow and home values.
- The buyer’s agent who represents the best interest of the buyer who is also armed with market valuations and comparables.
- The attorney of the buyer who here in Florida is entitled to retain one and review all documents.
- The home inspection companies which work for the buyer and will almost always find some problems with the house.
- The bank’s appraiser if the buyer is financing the purchase with a loan.
- Th lender in the case of a short sale.
2. Market exposure
Recent studies have shown that 90% of buyers search and find homes to look at online. In comparison, only 28% looking at print newspaper ads or drive by the neighborhoods. Most Vero Beach home buyers are out of town and contact realtors to find them homes.
Do you have an extensive internet strategy to promote the sale of your home, like many real estate agents do?
3. Most buyers find their Vero Beach home on the Internet
Here are some statistics:
- 43% of buyers found their home on the internet
- 9% from a yard sign
- 1% from newspapers
The days of selling your house by just putting up a sign on the front yard and putting it in the paper are long gone. Having a strong internet strategy is crucial.
4. For Sale By Owner has Become More Difficult
The paperwork involved in selling and buying a home especially here in Florida has increased dramatically with numerous mandatory additions to disclosures and regulations. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.
5. You end up with more money using an Agent
Many homeowners believe that they will save on real estate commission by selling on their own. You have to realize that buyers look at FSBOs because they can negotiate a better deal from the sellers.
Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000.
The bottom line is that before you decide to sell on your own, invite a real estate professional knowledgeable in your areas and see what they have to offer.
For more information on what to do to sell your home for the most money, less hassle and time, complete the form below, or call me at 772-532-0945.