Today I want to discuss some of the risks of selling your home as for sale by owner.
FSBO sellers are probably having more success now than ever. In fact, The National Association of Realtors says that a little over 5% of FSBO properties are successful. Although they are selling successfully, most of them are selling for 5% to 10% less than they would have if they were sold by an agent who could’ve marketed the home and generated foot traffic.
Most FSBO properties attract unqualified buyers, which means you’ll have people who are not pre-qualified walking through your home. They also attract tire-kickers and people who are looking for owner financing. Or, you could just attract people who will steal your things.
Recently here in Charlotte, we had a home seller who let a random couple come and see their house. During their time in the house, the couple unlocked a couple windows. They later broke in and robbed the owners when they were out of town, stealing all of their valuables.
If you’re selling your home as for sale by owner, congratulations on taking the initiative to do it by yourself. But, be careful not to leave 10% to 15% of the purchase price on the table, because it could end up costing you $20,000, $30,000, or even $40,000+ depending on the price range.
If you love the idea of getting your home sold in a reasonable amount of time for top dollar, give us a call. We would be happy to help you sell your home and give you the comfort of allowing us to handle everything for you.