Downfalls of FSBO in Floresville

Downfalls of FSBO in  Floresville

Selling your house on your own (FSBO) has a lot of potential attractions but it also has its downfalls. You get to save on commissions paid to a realtor. There is no timeframe except yours to consider. And it gives you negotiating room with buyers who are happy there is no seller’s agent collecting commissions. With that said, there are downfalls of FSBO in Floresville that you should consider before ruling out the help of a skilled agent.

Not As Much Profit

Many people consider using the FSBO method because they don’t want to pay up to 6 percent in commissions to agents. First, you might not save an entire six percent. If there is a buyer’s agent, you will need to pay them the 3 percent. Many buyer’s agents won’t negotiate on fee because they end up doing most of the work on both sides of the purchase even though they don’t represent you. Additionally, you may not have the right information to properly price your home based on the market conditions. In [market_state}This could significantly affect the profit you see.

Marketing Obstacles

Real estate agents have a wide network of other agents and marketing channels. Brokers regularly market properties in all types of areas from social marketing to maybe local papers or individual home websites and spend extra time and money on marketing to make listings attractive. One expense most FSBO sellers overlook is paying for a professional photographer or stager to ensure the home is most appealing online.  Do you know the market well enough to know factors such as what type of financing is common in your area?   Is your home eligible for that type of financing?  Loans have guidelines and the buyers have to follow those guidelines. You may miss marketing to the right buyers if you don’t know what type of loan your house qualifies for and advertise for that type of buyer.   Are you in a USDA area?  or an area of lots of FHA or VA buyers?   What are the guidelines on those types of loans?   How do you deal with an issue that might arise during the course of a transaction that is loan related?   What if you get a month into  the sale and find out the lender won’t lend on your home for that type of loan.  It is not the buyers’ agent responsibility to educate you on your part in the transaction nor is it the lenders responsibility.  The lender may not know until the appraiser notes it for the underwriters.   Do you know how you can legally present to the appraiser any information that you have about the house. You must come to the table with knowledge on how to proceed.   You may not be able to get the home on the major listing services, limiting the number of buyers who actually see the home.

Costly Legal Advice

If you aren’t familiar with the legalities of real estate contracts, disclosures, and escrow procedures, you will either need to spend hours researching it or hire an attorney for the proper legal advice. One mistake could cost you the sale or put you in legal hot water for not providing the proper disclosures required by law.

Potential to Miss Timelines

Real estate transactions have specific timelines. This means that buyers have a certain period of time to legally review the property and hold inspections. Then there are requests for remedies as well as the timelines of providing specific disclosures. If you miss a deadline, you could be giving the buyer a way out of the transactions without penalty. Real estate agents help keep you on track.  It is the job of the buyers’ agent to keep you aware. That is the listing agent’s job or in this case your responsibility.  To be aware of deadlines and making sure you and the buyer have met those deadlines.

Qualifying Buyers

When you get an offer, you don’t have the experience that a real estate agent has to determine the best and most qualified buyer. Because most marketing is limited, you will already be attracting bargain shoppers. Someone who makes the best offer by price might not be able to get the loan funded. This could kill the deal, waste your time and have the property listing get older and less attractive to viable buyers.

If you have questions or need assistance and want to sell your house yourself, I am always open to questions and any type of help I can give.

Do you want to sell your house in Floresville? We can offer many benefits you might not have considered. Send us a message or give us a call now! (210) 216-7722

As the Floresville Real Estate Agent – Faye Y Taylor is here for your questions and for help