Why FSBO Is Not The Way To Go

Why FSBO Isn’t the Way to Go When Selling Dallas Homes
For Sale by Owner (FSBO) sales aren’t near as successful as those sold by real estate agents. In fact, by 2006, the average price for a FSBO home was at least $50,000 less than agent-run sales.

Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:

1. Incorrect pricing – The market can only bear so much. By pricing their Dallas homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.

2. Not understanding everything involved – Selling a home, whatever the type, takes a lot of time, energy, ability, effort and know-how. For instance, accessibility is especially important, and a lot of FSBOs can’t be available to show the property when a buyer wants to see it.

3. Screening – You can waste a lot of time on unqualified buyers. You can also lose money by taking an offer that’s lower than it should be. Screening buyers can take a lot of time and effort, especially if you don’t have the experience to spot them.

4. Financing questions – The prospective buyer wants to know their financing options. As a FSBO, you need to be able to answer financing questions and explain their options. To do this, you’ll need to build a network of financial experts.

5. Knowing contracts – You need to be well versed in legal jargon, so you can handle contracts, agreements and disputes. Make sure everything – the negotiations and the agreements – is in writing.

These five points are just a few of the things you need to know to sell Dallas single-family homes on your own. If you’re not prepared to do it all, hire an agent to do it all for you!

If you’re trying to sell your home or condo and need someone who knows the ropes, I can help. Call me today at 214-695-2258 or email me at kathy.hretexas@yahoo.com for more information.

Kathy Lacey
Highlands Real Estate

{For Sale By Owner} Or Highlands Real Estate?

FSBO vs. Hiring a Dallas Real Estate Agent - 7 Points to Ponder

Selling a home isn’t easy, especially now. Yet some homeowners believe they can stick a “for sale” sign in the ground and have the house off the market within a few days.

While FSBO (For Sale By Owner) sales do occur, four out of five homeowners still use a Dallas real estate agent. Why? Because selling your home on your own is hard work, and even more importantly, statistics prove that real estate agents get homes sold faster and for more money than FSBOs.

If you’re not sure what you should do, here are a few things to think about:

FSBO
Sometimes, for sale by owner purchases are a good deal for the homeowner. That doesn’t mean you should just jump in, however. FSBO might be a good thing for you if:

1. It’s a seller’s market
2. You don’t care how long it takes
3. You are unwilling to pay the typical [city] real estate agent commission
4. You have a good attorney who can keep you protected for the legal aspects
5. You have the time to learn how to do it, answer the phone and provide open houses
6. You’re comfortable negotiating
7. You’re confident you can price your home correctly

Real Estate Agent
Although you will have to pay your agent a commission, there are some definite benefits to hiring one:

1. A good agent can help you price your home correctly.
2. They have an abundance of resources to help find buyers, get the best price and get your home sold.
3. They make sure the potential buyer can actually afford it.
4. They’re good at negotiating and aren’t emotionally invested in the sale.
5. If for no other reason, they’re interested in getting the highest price possible because of their commission.
6. They put in several hours a day, that you may not have available, to get your home sold.
7. They have advertising resources, such as real estate magazines, that you may not be able to touch (or afford).

A Dallas real estate agent may not be the best way to go for you. On the other hand, you may not have the necessary information and time required for FSBO. Before going one way or the other, take the time to really look at both sides and decide which works well with what you expect from the sale of your home.

If you've tried to go the FSBO route, and it didn't work out, or if you know FSBO isn't for you, Let Highlands Real Estate help. Call me at 214-699-1340 or email me at matt@hretexas.com for more information.

Matt Twomey
Highlands Real Estate