Ever considered selling your home on your own and passing over the agent altogether?  I know the thought has crossed my mind a few times, I mean I am a very hands on, do-it-yourself kind of guy after all.

But here’s the thing…

It’s easy to see those extra dollar signs before actually beginning the process, but before long most who attempt the For Sale By Owner (FSBO) model end up listing with an agent regardless.  They realize how much effort and hard work actually goes into retailing a residential property for its maximum value.

If you’re anything like me, you’ll probably find yourself thinking the following positives about FSBOs.  If you can pull it off, all the better for you!  But be sure not to overlook reality…

Wishful Thinking:  As the owner of the home, I’m better able to highlight the best features and selling points to potential buyers.

The Reality:  Homeowners are sometimes completely blind to the features in their homes that will help sell it.  Worse, after living in the home for a period of time, residents become numb to the down points of the property.  Potential home buyers will spot these negatives right away.

Wishful Thinking:  I can make more money on the sale by skipping the Realtor’s commission.

The Reality:  Most buyers are working through a real estate agent.  Even if the FSBO is listed on the MLS, many agents will be reluctant to deal with these properties.

Wishful Thinking:  The money I save by selling on my own will go straight to my pocket as profit.

The Reality:  Rapid selling hot markets are one thing, but as real estate nationwide is cooling down, you’ll still have to spend a big chunk of change on advertising and marketing.

Wishful Thinking:  I can move my home quicker because I can price it just that much lower and still realize my target selling price by not paying the agent’s commission.

The Reality:  Many buyers that are looking for FSBO homes are often trying to score a bargain, figuring if you’re not paying commission to a real estate agent, they can save that much more on the purchase – effectively defeating the purpose of skipping the agent in the first place.

Wishful Thinking:  I know exactly what price I want for my home and looking at the market, it seems that I’m right in line.

The Reality:  An expert agent for your area will probably be able to wring out even more money for the sale in this scenario.  They’ll not only have better statistics to assist in calculating the perfect price, but they’ll also be able to rely on extensive pricing experience.  Remember they have incentive also… the more a home sells for, the more they’ll get too.

Wishful Thinking:  I can have a few open houses and bring in lots of qualified foot traffic.

The Reality:  Good luck!  Putting an open house sign in the yard might net you a few visitors, but an agent’s ability to really pack the place is much more likely to be realistic.

Wishful Thinking:  I’m in no hurry.  I’ll just FSBO my property and wait until I get bites on my unrealistically high price.

The Reality:  The longer the house sits on the market, the harder it is to sell.  It gets sort of a bad stigma and will just be ignored by potential buyers after a while like there’s something wrong with it.  Most experienced real estate agents are capable of thwarting this problem right from the get go.

If you’re seriously considering FSBO, make sure you’ve totally educated yourself on the whole process, especially on marketing your house for its premium value.  It’s just not as easy as it looks, but if you’re really diligent, there is an opportunity to come out ahead.

Any doubts?  Then it’s probably best to leave it to the experts…

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