A For Sale By Owner sign is a big middle finger to the real estate agent community. Just hearing someone say, “FSBO” burns the ears of people in our profession. Can you believe these sellers actually believe they are as qualified as someone who dedicates their entire life to studying market trends and actually has a LICENSE to legally and effectively close a sale?! Real estate agents have the tools to effectively negotiate terms with a buyer and communicate with lenders, appraisers, home inspectors, buyers agents, and many more people involved in a transaction. Selling a house is a job for a true PROFESSIONAL!
There is a reason that only 9% of homes are sold FSBO each year, and almost ALL of them take much longer to sell than if listed with an agent. Also, FSBO homes usually sell for less than what they would have if a real estate agent listed it! If FSBO signs could speak the truth, I would imagine they would say the following:
FSBO’s assume real estate agents will cost them more money because they have to pay a commission. However, they do not factor in the time it will take or the lower price they will inevitably get. Time = Money!
FSBO’s act like they know everything…until it is time to order title work, negotiate the home inspection, and figure out what the hell to do with the appraisal. Oops, they forgot to factor in occupancy time at the beginning when the offer was accepted, too. Now they are hiring an attorney at $500 an hour just to provide them with all the required legal documents they needed and that a Realtor would’ve had ready from the start.
A FSBO’s phone will ring constantly…Not from prospective buyers, but from real estate agents wanting to get their listing! They will have to deal with hundreds of emails and calls from agents all competing because they know the seller will eventually hire a Realtor to list it after failing miserably.
Ah yes, the control freak FSBO. They must read every document and need days to research every little thing until anything gets signed. When they get asked to fix something that was flagged in the home inspection report, they will have five different contractors giving out five different opinions. They will side with the one that says it’s not a problem and choose the cheapest option. They will also never leave the house and will follow you around during the showings, inspections, and appraisal. Also, they might not even move out.
Of course it’s not! That’s why more than 50% of agents quit after their first year and another 30% average less than five sales a year!
No explanation needed.
FSBO’s will soon learn that real estate agents do a lot more than drive around showing homes all day. That’s like maybe 25% of what we do.
This is my FAVORITE excuse ever!! I hear this from EVERY FSBO – like they don’t want anyone to think they are serious about selling their home. This is quite possibly the BEST way to NOT sell your home. Sense of urgency and motivation sells a house… not someone playing dress up and doing test runs.
Oh yes, HGTV. That channel glamorizes the real estate industry and makes it look SOOOO easy to buy a dump, flip it, and make double your money in a month. How about that one show where a buyers sees three homes, picks one, and gets it remodeled by professionals with an unlimited budget! Never before have I seen a show categorized as a “reality show” that is so out of touch with reality.
Always. FSBO’s have no clue how to run a CMA or BPO. Also, they don’t even know what those acronyms stand for, so they have no business trying to sell a house.
FSBO’s are stubborn. They won’t repaint or consider fixing anything. They think their home is perfect… which might be a good thing because odds are they will continue living there for a very long time…at least until they hire a real estate agent to get the job done properly.
Sure it will. If the FSBO had half a brain and took decent photos and had an accurate listing description, and had it priced well, and actually took the time to work with a buyer to accept an offer then sure, that’s EASY. But, the home hasn’t sold until it closes, which is at least 30 days away and after: inspection(s) to complete (and negotiate), an appraisal (more possible negotiations), loan underwriting (time-sensitive paperwork), and title work (hopefully it’s clear!) to complete. Good luck 🙂
All FSBO’s think their home is the best home. That’s why it’s priced SO much more than all the neighborhood comps and why they insist on showing it to point out THEIR favorite features of the home.
I guarantee anyone who has their home listed FSBO right now that may be reading this STILL doesn’t get it.
Did you pull a permit when you added that lopsided extension off the back? What about making sure you did all the new electrical work up to code? DIY’ers like to do things themselves because it’s cheaper, not because they actually enjoy doing it. Do you really want to buy a house from someone who has always taken the cheapest option or shortcut?
Moral: FSBO’s need to understand that selling a house is for a professional real estate agent. Just like a license is needed to practice medicine, you would never try to stitch yourself up instead of seeing a doctor. Make sure you are very cautious if you are trying to buy a home listed by the owner, and always have agent representation!