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Why You Shouldn’t “For Sale By Owner”

Monday, December 30, 2019   /   by Meagan Young

Why You Shouldn’t “For Sale By Owner”

Why You Shouldn’t “For Sale By Owner”



Rising home prices coupled with the current inventory in today’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 to FSBO:


1. Online Strategy for Prospective Purchasers


Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?


2. Results Come from the Internet


According to NAR, here’s where buyers found the homes they actually purchased:



  • 55% on the Internet

  • 28% from a Real Estate Agent

  • 10% Other

  • 6% from a Yard Sign

  • 1% from Newspapers


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.


3. There Are Too Many People to Negotiate With


Here’s a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO:



  • The buyer, who wants the best deal possible

  • The buyer’s agent, who solely represents the best interest of the buyer

  • The buyer’s attorney (in some parts of the country)

  • The home inspection companies, which work for the buyer and will almost always find some problems with the house

  • The appraiser, if there is a question of value


4. FSBOing Has Become Increasingly Difficult


The paperwork 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.


5. You Net More Money When Using an Agent


Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.


A report by Zillow 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’t actually save anything, and eventually end up listing with an agent.


The same report revealed that,



“While 36% of sellers that (at first) attempted to sell their homes on their own, only 11 percent of sellers—in other words, less than a third…actually sold without an agent.”



It appears working with a real estate professional is the best answer.


Bottom Line


Before you decide to take on the challenges of selling your house on your own, reach out to a local real estate professional to discuss your needs.



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The Solari Group
Nicole Solari
4820 Business Center Drive, Ste 140
Fairfield, CA 94534
707-486-5400
DRE# 02014153

IDX Content is provided via the Internet for consumers’ personal, non-commercial use. Variable Price’ indicates the seller is willing to entertain offers within a Listing Price Range. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. IDX provided by Commissions Inc. Data last updated:July 6, 2020