Why FSBO can be a Better Option for You to Sell Your Home
Whenever you think about approaching home selling, you always think of hiring a real estate agent for the sale. This is because you’ve been conditioned into believing that they are your only option. That is not necessarily true. You have the option of going for FSBO (for sale by owner).
You may not realise this, but you do not need to opt for an agent to sell your house. There are times when home buyers and sellers have gotten the price that gave them better returns when they opted for FSBO instead of a real estate agent.
Here’s why FSBO can be a better option:
1.Interacting Directly with the Buyer on Your Own Time
The first advantage of going for FSBO is that you get to interact with the buyer directly and get to decide the schedule for the showing and open housing. Since you’re not a busy real estate agent who has a long list of people who s/he may put higher on their list of priorities, you get to present your best foot forward to the potential buyer while scheduling the showing at a time that is convenient for both you and the buyer.
One may, however, argue that you do have to be good at reading expressions and body language to see which buyer is casual and which one is more serious. You can tell when a buyer is really interested in buying your home and has the financial muscle to back it up when you pay close attention.
2.Knowing the Plus Points of Your own Neighborhood
If you’ve been in the neighbourhood long enough, it is safe to assume that you know the people and the attitude of the neighbourhood best. This can be a great arsenal for someone opting for home sales by owners when interacting with buyers during a visit.
You can give them a little tour of your neighbourhood to show them what they’ll get when they buy the house. You can visibly notice if the buyer is genuinely interested in buying and it can be a great little selling point when you share what you know of the neighbourhood with the buyer. You can effectively market your house and the neighbourhood to increase the perceived value in the eyes of the buyer.
3.Greater Control over Price
You have greater control over the price that appears on the listing. Plus, you also get the freedom to carry out research on the comparable features of houses and how they may affect the buyer’s decision.
Of course, you have to set your emotions aside and pit your house against others on the market and evaluate realistically what price it will go for. You’ll get to take the sale on as a challenge, negotiating with the buyer while securing the bottom line.
4.Commissions turn into Savings
The best has been saved for last. When you opt to sell your home yourself, you stand to save so much more on commissions and add those commissions to your profits. Considering that commissions are generally 5% of the asking price, you can even lower the asking price for your house to be more appealing to buyers.