As a reader, you’ve probably noticed by now how pro for-sale-by-owner we are. We think it’s the best method for selling a home. This doesn’t mean there aren’t things to watch out for. However, there are many positive aspects of selling for sale by owner. Today, we’re going to give you three reasons for selling for sale by owner and not with an agent. Read on to learn the reasons!
1 – Make more money
Let’s first address the elephant in the room. Everyone knows realtors cost money. Furthermore, we all understand money doesn’t grow on trees. This means that by selling your house without a realtor, the entire profit from the sale goes into your pocket. That’s right, there’s no commission to be taken off in a for sale by owner.
However, there are a few slight bumps on this road.
Have you ever excitedly decided to start and work on a project, but halfway through, lost all your energy and stimulation? If the answer is yes, don’t worry. You’re not the only one. But this does pose a problem when selling for sale by owner.
Selling a home takes motivation to start, keep up, and finish. It’s not as forgiving as some other projects. And while the home selling process can be long and drawn out, having a plan to implement will be helpful. Research and find out what other for sale by owner sellers have learned on the journey.
This will help you understand what aspects were especially hard for them. Thus you can have your own plan ready for when you hit the bump.
While it’s not always true for everything, there’s basically a statistic somewhere for every situation you encounter. And selling for sale by owner is no exception. One statistic related to FSBO states that 91% of sellers are assisted by a real estate agent. This would make us feel less like selling for sale by owner. But as we said earlier, with enough motivation you can do it.
As we just mentioned, there are both positive and negative aspects of selling your house for sale by owner. And while we want this to be reflecting FSBO positively, we want you to be prepared for the negative side of things. That being said, let’s get onto the next reason to sell your house FSBO.
2 – Time management
Let’s consider a very positive reason to be your own “realtor.” As we all know, realtors are extremely busy people. The majority have more than one client at a time. And many times, they have a lot of multi-tasking to do, to ensure that everyone’s process goes smoothly. But what does this mean for you?
This means that your hypothetical realtor can’t devote all their time to you. Many sellers and buyers expect more from a realtor than can be given. And they end up setting themselves up for disappointment. But if you are your own “realtor” you can give every moment of your spare time to selling your house.
You have no other clients, no expectations, and no deadlines except your own. Therefore, if you have time, your entire day can be spent working on getting your house on the market and sold. And who knows, you might become such a self-motivated DIYer that you could be the next Chip and Joanna Gaines. If that isn’t an achievement, we don’t know what is!
3 – Advertisement
Have you ever been in a situation that didn’t go as planned? And maybe folks wouldn’t listen to your ideas, and the plan failed? If this has happened to you, it’s time to turn that story around! If you sell your house FSBO, the entire process is in your hands and up to you. Even the way you advertise is your decision.
Which is fantastic if you think about the possibilities. Not only are there endless ways to advertise, but with some quick research, you can find out exactly which ways give the best results. In an article by the National Association of Realtors, we get a glance at a few FSBO advertising statistics.
They explain that apart from the sellers that don’t advertise at all, 22% of FSBO sellers use and have used yard signs. And 18% use word of mouth by friends and family. Explore the different methods of advertising, and find out what works best for you.
Different strokes for different folks
At the end of the day, everyone’s success story is going to look different. Also, along the way during your FSBO experience, there will be folks who talk negatively about the way your selling. Just remember that even if it didn’t work for other people, it doesn’t mean it won’t work for you! To get more ideas and tips on selling FSBO, check out this article from our blog!