{"id":2597,"date":"2019-12-30T05:00:03","date_gmt":"2019-12-30T11:00:03","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/why-you-shouldnt-for-sale-by-owner\/"},"modified":"2019-12-30T05:00:03","modified_gmt":"2019-12-30T11:00:03","slug":"why-you-shouldnt-for-sale-by-owner","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/why-you-shouldnt-for-sale-by-owner\/","title":{"rendered":"Why You Shouldn\u2019t \u201cFor Sale By Owner\u201d"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2019\/12\/16145251\/20191230-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Why You Shouldn\u2019t &quot;For Sale By Owner&quot; | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>Rising home prices coupled with the current inventory in today&#8217;s market may cause some homeowners to consider selling their homes on their own (known in the industry as a <strong><em>For Sale By Owner<\/em><\/strong>). However, a FSBO might be hard to execute well for the vast majority of sellers.<span id=\"more-41398\"><\/span><\/p>\n<h4><strong>Here are the top 5 reasons not to FSBO:<\/strong><\/h4>\n<p><strong>1. Online Strategy for Prospective Purchasers<\/strong><\/p>\n<p><a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/research-reports\/highlights-from-the-profile-of-home-buyers-and-sellers\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Studies<\/a> have shown that 93% of buyers search online for a home. That\u2019s a pretty staggering number! 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>According to <a href=\"https:\/\/www.nar.realtor\/research-and-statistics\/research-reports\/highlights-from-the-profile-of-home-buyers-and-sellers\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>NAR<\/em><\/a>, here\u2019s where buyers found the homes they actually purchased:<\/p>\n<ul>\n<li>55% on the Internet<\/li>\n<li>28% from a Real Estate Agent<\/li>\n<li>10% Other<\/li>\n<li>6% 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 in your yard or placing an ad 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\u2019s a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO:<\/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=\"https:\/\/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 buying or selling a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% 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 they\u2019ll save the real estate commission by selling on their own, but the seller and buyer can\u2019t both save the commission.<\/p>\n<p>A report by <a href=\"https:\/\/wp.zillowstatic.com\/38\/ZGReport2018_Download-a27213.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><em>Zillow<\/em><\/a> revealed that FSBOs are inclined to do so because they believe it will save money (46 percent cite this among their top three reasons), but they don\u2019t actually save anything, and eventually end up listing with an agent.<\/p>\n<p>The same report revealed that,<\/p>\n<blockquote>\n<p><em>\u201cWhile 36% of sellers that (at first) attempted to sell their homes on their own, only 11 percent of sellers\u2014in other words, less than a third\u2026actually sold without an agent.\u201d<\/em><\/p>\n<\/blockquote>\n<p>It appears working with a real estate professional is the best answer.<\/p>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>Before you decide to take on the challenges 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 the current inventory in today&#8217;s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). However, a FSBO might be hard to execute well for the vast majority of sellers. Here are the top 5 reasons not [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2598,"comment_status":"false","ping_status":"closed","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-2597","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>Why You Shouldn\u2019t \u201cFor Sale By Owner\u201d&#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\/why-you-shouldnt-for-sale-by-owner\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why You Shouldn\u2019t \u201cFor Sale By Owner\u201d&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"Rising home prices coupled with the current inventory in today&#8217;s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner). 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