At first glance, some feel selling a home is simple. Why should someone pay a broker fees for something they could do themselves? However, in an independent survey, close to half of the FSBOs said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why? Many FSBOs said that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising… they would have been better off having paid the brokers fee which would have included many of these charges up front.
Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBOs discovered that they lost money as a result of poor decisions outweighed the commission.
Before you decide to sell FSBO, consider these things and weigh the cost of assuming the responsibility versus employing a professional.