1.
You are limiting your exposure to potential buyers (less than 10% of
what a good real estate broker will generate) which theoretically means
your home will take ten to fifteen times longer to sell on the market.
2.
The longer a home is on the market the lower the selling price is. Why?
Because most buyers think that if the home has not sold after this long…there
must be something wrong with the home.
3.
The selling/buying process begins AFTER the buyer leaves your home.
Most sellers think that all it takes is for someone to see their home,
fall in love with the great decor… and the offer automatically
will follow. Remember that the buying process begins after they leave
your home. If a real estate agent does not represent the buyer, and
they are looking on their own…they usually leave the home and start
to talk themselves out of the buying process. If the buyer is represented
by a real estate professional Realtors© are trained on how to overcome
buyers remorse--a very common occurrence.
4.
Because of the limited exposure you will very likely end up with a lower
selling price. Remember, in order to generate the highest price possible
for your home… selling means exposure. You need the maximum exposure
possible, to generate the highest price possible.
5.
Most buyers find it extremely awkward to negotiate or even to talk directly
with sellers and therefore avoid FSBO properties.
6.
Lack of negotiating experience and lack of pertinent information often
will result in a lower selling price, or worse yet, a bungled contract
and possible lawsuits.
7.
The majority of qualified buyers are working with experienced real estate
professionals.
8.
Many serious buyers will pass by a FSBO home merely because they recognize
that it is not in the real estate mainstream, this can some times make
them wary.
9.
As most local buyers now retain an experienced real estate sales person
to represent them as their buyer-agency, you will probably be negotiating
against an experienced professional.
10.
Expected savings in broker's fees will also be greatly reduced if you
offer a selling commission to entice real estate agents to bring potential
buyers.
11.
If you are planning to use a Lawyer to help you negotiate the offer,
then your lawyer’s fees will be considerably higher.
12.
Only real estate agents have access to the up-to-date market information.
News reports cannot approach the timeliness or specificity available
to agents. Further, real estate agents are involved in home sales much
more frequently than the average homeowner is. This familiarity leads
to a degree of expertise that provides an edge on negotiating and successful
selling.
13.
You only pay the commission to the real estate broker, if they successfully
sell your home at the price you are happy with.
14.
Accepting an offer is one thing, ensuring a safe and successful closing
is quite another. Real estate transactions usually always have problems
on closing. At times, expecting the Buyers and Sellers Lawyer’s
to fight it out or resolve the problems, can sometimes mean the deal
is lost. This is the time that your experienced real estate professional,
can be the most important. Your Realtor© can act as a great mediator.
Lawyers MUST act only on their client’s instructions and are not
paid to negotiate.