{"id":2340,"date":"2019-07-01T05:00:31","date_gmt":"2019-07-01T10:00:31","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/top-5-reasons-you-should-not-fsbo\/"},"modified":"2019-07-01T05:00:31","modified_gmt":"2019-07-01T10:00:31","slug":"top-5-reasons-you-should-not-fsbo","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/top-5-reasons-you-should-not-fsbo\/","title":{"rendered":"Top 5 Reasons You Should NOT FSBO"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2019\/07\/16171312\/20190701-Share-KCM-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Top 5 Reasons You Should NOT FSBO | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>Rising home prices coupled with a lack of inventory in today\u2019s market may cause some homeowners to consider selling their home on their own (known in the industry as a <strong><em>For Sale By Owner<\/em><\/strong>). However, a <em>FSBO<\/em> might not be a good idea for the vast majority of sellers.<span id=\"more-39878\"><\/span><\/p>\n<h4><strong>The top 5 reasons are listed below:<\/strong><\/h4>\n<p><strong>1. Online Strategy for Prospective Purchasers<\/strong><\/p>\n<p>Recent <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/research-reports\/home-buyer-and-seller-generational-trends\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">studies<\/a> have shown that 95% of buyers search online for a home. In comparison, only 13% use print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home. Do you?<\/p>\n<p><strong>2. Results Come from the Internet<\/strong><\/p>\n<p>Where did buyers find the home they actually purchased?<\/p>\n<ul>\n<li>50% on the Internet<\/li>\n<li>28% from a Real Estate Agent<\/li>\n<li>7% from a yard sign<\/li>\n<li>1% from newspapers<\/li>\n<\/ul>\n<p>The days of selling your house by putting up a sign and listing it in the paper are long gone. Having a strong Internet strategy is crucial.<\/p>\n<p><strong>3. There Are Too Many People to Negotiate With<\/strong><\/p>\n<p>Here is a <a href=\"https:\/\/www.simplifyingthemarket.com\/2019\/04\/22\/selling-your-house-heres-why-you-need-a-pro-in-your-corner\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">list<\/a> of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:<\/p>\n<ul>\n<li>The buyer who wants the best deal possible<\/li>\n<li>The buyer\u2019s agent, who solely represents the best interest of the buyer<\/li>\n<li>The buyer\u2019s attorney (in some parts of the country)<\/li>\n<li>The home inspection companies, which work for the buyer and will almost always find some problems with the house<\/li>\n<li>The appraiser, if there is a question of value<\/li>\n<\/ul>\n<p><strong>4. FSBOing Has Become Increasingly Difficult<\/strong><\/p>\n<p>The <a href=\"http:\/\/www.simplifyingthemarket.com\/2019\/06\/18\/why-is-so-much-paperwork-required-to-get-a-mortgage\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">paperwork<\/a> involved in the process has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 7% over the last 20+ years.<\/p>\n<p><strong>5. You Net More Money When Using an Agent<\/strong><\/p>\n<p>Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent\u2019s commission. The seller and buyer can\u2019t both save the commission.<\/p>\n<p>A study by <em>Collateral Analytics<\/em> revealed that FSBOs don\u2019t actually save anything by forgoing the help of an agent. In some cases, they may actually cost themselves more. One of the main reasons for the price difference at the time of sale is:<\/p>\n<blockquote>\n<p><em>\u201cProperties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.\u201d<\/em><\/p>\n<\/blockquote>\n<p>The more buyers that view a home, the greater the chance of a bidding war for the property. The study found the difference in price between comparable homes of size and location is currently at an average of 6%.<\/p>\n<p>Listing on your own leaves you to manage the entire transaction yourself. Why do that when you can hire an agent without additional cost?<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Before you decide to take on the challenge of selling your house on your own, let\u2019s get together to discuss your needs.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising home prices coupled with a lack of inventory in today\u2019s market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner). However, a FSBO might not be a good idea for the vast majority of sellers. The top 5 reasons are listed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2341,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-2340","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Top 5 Reasons You Should NOT FSBO&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/top-5-reasons-you-should-not-fsbo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 5 Reasons You Should NOT FSBO&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Rising home prices coupled with a lack of inventory in today\u2019s market may cause some homeowners to consider selling their home on their own (known in the industry as a For Sale By Owner). 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