24 May For Sale By Owner: Nothin’ but Net

This is a market like no other! And while it may seem like an easy time to sell by owner, homeowners should think twice before skipping the frenzied open market; the highest offer is more likely to come from casting the widest net and Realtors can professionally navigate you through the strange situations we are seeing in these unique circumstances.

There is only one reason homeowners decide to sell by owner and that is money.

I say this: market value is only achieved by market exposure.

Realtors can reach a global market with memberships to multiple listing service (MLS) platforms. And if you think adding a listing to the MLS is a minor task, think again. We pay high membership fees, take classes, and spend hours making sure our inputted data is accurately maintained. In addition to the MLS, we have made it our business to have a database of able buyers. If people aren’t looking at the internet for a buying opportunity, we put it in front of them.

Let’s look at a for sale by owner (FSBO) offer scenario. Neighbor Nadine drives by Seller Sam’s house with a “for sale by owner” sign in the front yard. She wants to buy the house and since the house isn’t professionally promoted, she is probably only one of a few interested buyers. Neighbor Nadine knows Seller Sam isn’t paying a commission so she thinks he can afford to sell the house for less than he’s asking. Without a Realtor working to make this an “arm’s length” transaction, negotiations are weakened and Neighbor Nadine eventually secures the contract because Seller Sam doesn’t have another option. 

Speaking of contracts, do you know that one checkmark made in the wrong box can cost a seller thousands of dollars? What about rules about earnest money held in escrow? Legally required disclosures? A Realtor’s market and transaction expertise pays for itself.

If you were in a lawsuit where $300,000 was on the line, would you represent yourself in court?

Bottom line: think about what matters – the ease of the greatest net proceeds in your pocket.