Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable Real Estate sales professional. Before you decide to take on this very important and legally complicated process remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why:
1. You are limiting your exposure to potential buyers which theoretically means your home will take ten to fifteen times longer to sell on the market.
2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long there must be something wrong with the home.
3. The selling/buying process begins after the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor. and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse a very common occurrence.
4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home selling means exposure. You need the maximum exposure possible, to generate the highest price possible.
5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.