Going "For Sale by Owner"?
Don't sacrifice your equity!
Selling your home without the help of an agent could cost you thousands of dollars! Get in touch with us to learn the ins and outs of FSBO...and why it might not be your best option.
What You Need to Know Before Listing Without an Agent
Selling a home can be a stressful process if you're not prepared—and unless you're a seasoned real estate pro, you might run into a few snags along the way. Here are a few tips that can help you avoid any potential pitfalls!
Know how to choose the right offer
In today's market, it's not uncommon for sellers to receive dozens of offers, many of which waive contingencies and far exceed the original asking price. However, the highest offer isn't always the best offer. As a FSBO seller, you'll need to be prepared to sort through all of the offers you receive and weigh the pros and cons of each, often on a tight deadline.
Make sense of contingencies
By definition, a contingency is a clause or condition that must be met before the sale of a home. Oftentimes, buyers will attach certain contingencies to their offer, like an inspection, appraisal, or finance contingency. As a seller, you'll want to avoid as many contingencies as possible, as they open the door for potential hiccups that could jeopardize the sale. Sellers can also include their own contingencies to sweeten their end of the deal.
Put more money in your pocket
According to Collateral Analytics, did you know that sellers who work with an agent make approximately 6% more than FSBO sellers? While going "For Sale by Owner" can help you avoid commission, you'll still recoup more money overall by selling with a qualified real estate professional. To put that into perspective, if you sold your home for $300,000, an agent could likely increase your profits by a whopping $18,000!
Price your home right
Most FSBO sellers turn to automatic online estimators to price their home. While these tools can serve as a good starting point, they might be off by tens of thousands of dollars due to outdated algorithms. If you want to know exactly how much today's buyers will pay for your home, try getting a reliable estimate from a Columbus area real estate agent instead.
Selling a home is a full-time job
There's a reason why real estate agents have made entire careers out of buying and selling homes—it really is a full-time job! If you're thinking about selling your home on your own, you need to be prepared to take on the countless responsibilities that would otherwise be handled by an agent. Scheduling showings, marketing your home, making sense of contracts, negotiating, and looking out for your best interests all fall to you.
Put your emotions aside
Selling your home is a highly emotional experience, but you need to be prepared to put your feelings aside once you list. While you may think your colorful accent wall or Buckeye-themed bonus room will attract buyers, that might not actually be the case. Remember—you have years invested in your home, whereas buyers don't have that same attachment. Be prepared to view your place from a more neutral perspective, or bring in a third party (like an agent) for a different opinion.
Selling Your Central Ohio Home? We Can Help!
Feeling a little overwhelmed by the "For Sale by Owner" process? We completely understand, and we'd love to serve as your all-encompassing resource for Columbus-area real estate.
With decades of combined experience, The Raines Group has what it takes to sell your home for top dollar in no time at all. We promise to take all the stress off your shoulders and help you navigate every step of your sale with ease. Just drop us a line to get started, or request a free home valuation to see what your property is worth in today's market.