Many homeowners believe that to maximize their profit they will have to sell their homes themselves. They feel selling a home is simple and wonder why they should pay a brokerage fee for something they could do themselves. In fact over 10% of all the homes sold last year were sold For Sale By Owner (FSBO). However, close to half of the FSBO's said that they would hire a professional next time they sold. Thirty percent of people who sold their own homes said they were unhappy with the results they achieved. Why? Most FSBO's told us the paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For many, the financial savings were even more disappointing. After considering their advertising cost, value of their time, extreme inconvenience and their lack of knowledge in most aspects of a real estate transaction, they would have been better off paying a professional Realtor for their expertise. Selling a home requires an extensive understanding of the real estate market. If the property is priced too high, it may remain on the market and develop a reputation for being an overpriced property. If the property is priced too low, it could cost you a considerable amount of money. Some FSBOs discovered that the money lost as a result of poor decisions outweighed the brokerage fee. Before you decide to sell your home by yourself, consider the time, effort, and legal requirements necessary for assuming the responsibility of selling your home yourself versus employing a professional Realtor.
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