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For sale by owner (FSBO) - Everything, You Need To Know| Edmonton Real Estate Pro| Mani Bagga

Posted by Mani Bagga on Tuesday, June 28th, 2022 at 3:49am.

 For Sale By Owner- FSBO- Mani Bagga

For Sale By Owner (FSBO) is the process through which a seller tries to sell his property without the involvement of a real estate agent or a broker. They often use third-party apps to list their property, but they do it all alone. It may seem like an easy task - Just list the property and ask for a price. But let me tell you one thing, it is not that easy at all! Selling a property all by yourselves is a tedious task. Take one step wrong, and all of it can go down the drain.

Here are 8 points that show why For Sale By Owner usually never works -

1. Lack Of Market Knowledge -

If you’re selling your home for the first time by yourself, you might not already be an expert. There are layers to selling a property, it is not just randomly listing your home and asking for a price.

2. Lack Of Exposure To The Market -

Real Estate Agents/Brokers have connections in the market and know who wants to buy your property and at what price. For you, finding the right buyer can be like finding a needle in a haystack!

3. Unconventional Pricing -

Your perfect price as a seller is not always perfect for the buyer. Pricing your home is a skill, and first-time sellers usually don’t have enough information about the average prices in the market. Pricing it too high will not generate leads and pricing too low will be a total rip-off.

4. Too Much Paper Work To Handle -

There’s too much paperwork involved in selling a home. Miss one legal document and the buyer can sue you for not working according to the law. Also, it is very difficult to keep a track of all the taxes to be paid while selling a home.

5. You Have To Keep A Check On Your MLS -

MLS (Multi-Listing Service) auto-syndicates your home details to major online listing sites. But it is not free to use, and charges can be anywhere between $50 to $500 or even more. An MLS will just list your house on major websites and will do no promotion whatsoever.

6. Too Much Communication -

You won’t just sell your property to anyone. You need to communicate with people to answer their questions and solve their queries. And assuming that you have a business/job, it is going to get messy. You just can’t afford 20-minute long calls in between working hours!

7. Negotiating With A Professional -

You’re the one who is selling on his own, the buyer’s got a backup! When negotiating, the buyer’s agent comes to the table along with them and with such an experience in negotiating, it is difficult to get the desired deal or even come to a conclusion.

8. Too Much Headache For Just A Small Amount -

In conclusion, it is too much of a headache to sell your property by yourselves when you can have an agent by your side all the time. It is not that costly, and you save money in the end!



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