For-Sale-By-Owner Risks

The real estate market tends to slow down in December, but the buyers who are looking are serious. They’re ready to give themselves the gift of a home for the holidays and that can mean a fast sale. 

This might make the idea of selling your home on your own appealing. However, For-Sale-By-Owner (FSBO) comes with many risks.

“One of the biggest risks is limited exposure,” says Carol D. Calamari, Sales Associate at ERA Justin Realty, “Professional real estate agents have an extensive web of networks, online listing platforms, and marketing resources that make sure your home is seen by a wide audience of potential buyers.”

During the holiday season, many potential buyers are also juggling family activities and events. A professional agent can make sure your property is not overlooked. 

Then, there’s all the fine print. “Selling a house involves legal documentation, contracts and negotiation,” says Jennifer Darby Metzger, Broker/Owner at ERA Justin Realty, “A misstep in paperwork or pricing could lead to legal issues or even financial losses.” 

Pricing can be particularly problematic. “If you price it too high, you could scare away buyers,” says Calamari, “If you price too low you are potentially costing yourself thousands of dollars you could be reinvesting in another property and your future.”

Finally, there are safety concerns related to selling a property on your own. “Welcoming strangers inside your home to look around is always a safety concern,” says Metzger, “Real estate professionals take steps to screen potential buyers before bringing them to your home for a showing.”

Bottom Line: According to the National Association of Realtors (NAR) only about 10% of the homes that sell nationwide per year  are successfully sold by the owner. 

If you’d like to sell your home, but are wary of doing it yourself, trust your instincts. Carol D. Calamari or any of the knowledgeable agents at ERA Justin can help make the selling process a whole lot easier. Give us a call at (201) 939-7500.