Industry News – My FSBO Experience

Industry News - My FSBO Experience

Have you ever thought about selling your house yourself? I myself, am a do-it-yourselfer and to be honest, before I became an agent, I tried to sell my first house “By Owner.”

The market was a seller’s market, similar to how it is now, and the area I was selling it in was a hot area, so I thought for sure I could do just as good of a job as a real estate agent and save all that commission.

I went down to the local hardware store and bought a For Sale sign and placed an ad on Craigslist – this is back when Craigslist was a lot safer – and the inquiries began to roll in. Things went great for the first few days and I was planning to host an open house the first weekend, so I was hopeful that I could sell it quickly.

After about two weeks of answering call after call, email after email, hosting a super busy open house, and having only one low ball offer to consider, all while still trying to do my full-time job, I decided to call it quits. I was disappointed and frustrated with the public and their lack of trust and in some cases just not knowing what to do.

The next day, I hired a local top agent. My appointment with the agent went well and she looked at the house and what I was asking and said she thought she could get more, so we bumped up the price $7,500 and signed the paperwork.

After only three days on the market, she was able to get me just under our asking price. She helped me through the inspections and appraisal, and her assistant helped me to coordinate everything with the title company. All in all, the process was very smooth and I was able to focus on finding my next house rather than trying to figure it all out all on my own.

At the end of the day, the price that I received actually covered a little more than the cost of the commissions AND I didn’t have to do any of the work! The agent made it look easy, but I can tell you from my experience that there is more to it than it appears.

So, here’s what I learned: To the public, I learned that many people felt comfort with being represented by a Buyer’s Agent who knows what to do and how to move smoothly through the process. To me as a seller, there was obviously value in having a Seller’s Agent in that I didn’t have to do any of the work and there was also some comfort in knowing that someone was watching out for me so I didn’t get taken by a Craigslist shark. I also learned that by hiring a professional, I was able to actually make more money than I would have on my own!

What’s the moral of the story? Just because you CAN do it yourself, doesn’t mean that you SHOULD do it yourself. Hiring the right professional can not only make things easier, but it can put more money in your pocket.

If you or someone that you care for is thinking about selling their home as a FSBO, PLEASE call me! My team and I are professional full-time real estate agents and we know how to best position your house on the market to net you the most money and cause you the least amount of hassle…Call us, we can help! Helping YOU is What We’re Here to Do!

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