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Why Do So Many People Who Sell Their Homes Themselves Decide Not To Do It Again?

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A smiling man standing next to a for sale sign in the front yard of a brown home

10/15/2013 | Author: Marty Kramer

Have you ever taken on a project that looked easy until you actually did the work? It seems selling your home without a real estate agent fits that description.

Ten percent of homesellers in the U.S. were FSBOs (for sale by owner) in 2012, according to a National Association of REALTORS® survey. Approximately half of those selling on their own already knew the person buying their home.

Of sellers who knew the buyer, only 23% said they would sell their next home without an agent, too. Less than half of the sellers who didn’t know the buyer plan to sell on their own in the future.

The survey does not get into the reasons why, but I have a few theories:

  • Figuring out the right price takes research and experience. Overpriced homes can remain on the market a long time, often selling for less than if they had been correctly priced in the first place. And underpricing? You don’t need an explanation why that’s a problem.
  • Showing a home to every interested buyer is time-consuming. And you don’t want to show the home to people who can’t afford it or, worse, have criminal intentions.
  • Real estate transactions are complex. You must negotiate stacks of legal documents and take care of details with many different service providers.
  • Making a mistake in a home sale can lead to delays, unsuccessful transactions, and legal trouble.
  • Many people find negotiating difficult and/or uncomfortable.

If you’re thinking of selling your home without a Texas REALTOR®, make sure you understand what’s involved. You may decide you want to proceed. Or, you might decide that hiring a professional will save you time, reduce your stress, and help you avoid hassles.

Categories: Sellers
Tags: selling, fsbo, negotiation, contracts