Are you thinking about selling your SW Florida home, but considering doing it yourself as a FSBO? Are you ready to list it on Zillow or another For Sale By Owner (FSBO) site?
Before you try to sell your home yourself, you may consider the following questions. Selling a home is a complicated legal matter. Selling a home yourself may not be the best financial or legal strategy.
- Do you know and understand all Florida Real Estate laws regarding selling your home? Do you have someone giving you good real estate advice? In Florida, the laws when selling a home can be complicated. They involve, safety, hazard, disclosure, discrimination, environmental, tax, title and much much more.
- How are you going to Market Your Home For Sale? Who is Taking the Pictures? Do you have a Video? 3D Real Estate Tour? Buyers value the pictures of a home the most! How are yours? Do you know how to target market for buyers looking on-line? 90% of all buyers start their home search online? Your home needs to be found and seen. How will buyers see it, and what will they think?
- Do you have a good relationship with a Title Company or Real Estate Attorney? A home buyer and the buyer's lender are going to require a complete title review of your property as well to ensure the title is fully insurable.
- Is your home ready to be inspected for repairs and pest control and do you understand what is required by Florida law? What about negotiating repairs with the buyer after the inspection? What do YOU HAVE TO DISCLOSE?
- How are buyers going to find your SW Florida home? Do you have a pricing strategy? Are you prepared to negotiate with a variety of people during the transaction: Buyer, Inspector, Appraiser, etc. Who pays for what and what are the expected cost for inspections, pest control, HOA documentation, etc.
- Are You Showing the Home? Are you going to say something that will give the buyer a negotiating advantage or possibly put you in a bad position? Also, buyers are uncomfortable when the seller is there. Do you really want them hurrying thru your home?
- Who is your Buyer? Who are you letting in your home to preview it? Could there be a safety issue? Are you aware of the different lender requirements and the variety of loan programs? Does your home comply?
- Are you offering a commission to a buyer's agent to bring you a buyer? If so, how much?
The biggest question to ask yourself is: what are you REALLY SAVING by listing your home for sale by yourself?
Often, FSBO homeowners believe they will save the real estate commission by selling their home on their own.
What do you think the buyer or buyer's agent is thinking?
I should get a lower price because you are not paying commission and they will negotiate as such.
Statistically, according to the National Association of Realtors, a FSBO typically sells their home for price of 16% less than the market value.
The question to ask yourself before you list your home FSBO:
Is the risk REALLY greater than the reward?
We have a free home sellers guide for you to review before listing your home for sale. Take a look and let us know how we can help you.
Looking for a Top Real Estate Agent? Be sure to read our post - Finding a TOP SW FL Real Estate Agent - Important Questions to Ask
Would you like a FREE Market Analysis? Call Ross Winchel with Koffman and Associates and Royal Shell Real Estate - 239-898-1214. Ross will provide you a free market analysis to help you price your home properly - even if you are going to try and sell it yourself.
