Disadvantages of FSBO
If you want to sell your property, the very first option which you will entertain is to contact any realtor who will save you from all the hassle in the transactions involved in the business. The concept of FSBO (For Sale by Owner), rules out the real estate agents from the equation and the entire burden of handling the sale/purchase matters befall upon the buyer and the owner himself. This article will bring to light the disadvantages of FSBO and will try to explain why you shouldn’t opt for this process.
Disadvantages of For Sale by Owner (FSBO)
Following are the disadvantages of FSBO you need to be aware of:
Your Property is Unlisted on Online Software
The very first disadvantage of adopting FSBO is, you don’t get your property registered in the list of licensed seller log which makes it difficult for you to receive any buyers. Every buyer browses the online list and checks out which property suits him well and which one is listed over there. Once he finds his dream house, he makes a move immediately. Unluckily, you will have to wait for an unknown period of time to get contacted by any interested buyer.
Absence of Professional Pricing and Further Advices
There is no one to guide you about the pricing details related to a certain area in which your residence or property is. You are left alone in a bubble whose boundaries are unknown to you and you don’t get any advice on any matter. There are certain aspects which need to be discussed. Such matters are only well-known to the REALTOR®. You don’t hire her; your house gets sold at a very unreasonable price.
You are Responsible for Tours and Paperwork
If you are lucky enough to have been approached by a buyer, which is a rare case, you will have to set apart time out of your busy schedule and will have to rush back home to show your house to the buyer. There is a lot of negotiations involved from both ends. Sometimes there are disagreements as well. A realtor knows specifically as how to turn a disagreement into a happy deal. With the realtor absent, you will have to do it all by yourself along with the paper work which follows after the deal has been made.
Going for an FSBO, you will be selling your property at a loss and will regret this to be the worst decision of your life. Always be smart and choose a REALTOR® who will work hard for you and put more money in your pocket, even after paying commissions.