WHAT DOES A FOR SALE BY OWNER (FSBO) NEED TO KNOW?

There is a lot of talk out there about whether or not a home owner should sell their home themselves. I would like to share a few facts with you that may make a difference in your decision on using a REALTOR®.

Home owners have been using REALTORS® for well over 100 years. In today’s society nothing lasts that long unless there is undisputed value.

Buyers who shop For Sale By Owner properties only do so because they think there is a deal to be had. They believe they can get a huge discount on the price because the Seller doesn’t have to pay a commission. The Seller will always have to pay a commission – either to the Buyer or to the REALTOR®. If you are going to be paying a commission anyway, why not use a real estate professional and have them do all the work and take all the risk.

The Law of Supply and Demand states that the more buyers you have wanting to purchase the same product, the more they are willing to pay for the product. When you list your home on the Multiple Listing Service® or MLS® with a local real estate professional, your home is exposed to a huge number of potential Buyers. In our area, there are approximately 2,700 REALTORS® and approximately 40,000 REALTORS® in the neighbouring GTA. If each of those REALTORS® only had ONE Buyer client, that is an astounding number of potential Buyers for your property. How many potential Buyers would the FSBO be able to attract on their own? The odds are that a REALTOR® could probably sell it faster and for more money.

One of the most important roles of the real estate professional is negotiating on behalf of the Seller. The REALTOR® will negotiate with home inspectors, appraisers, lenders, etc., and the Buyer, or the Buyer’s representative to ensure the Seller gets the best terms and conditions on the sale of their largest single investment.

So if you are thinking of selling, talk to one of our Coldwell Banker Pinnacle Real Estate professionals to help guide you through the challenges of selling your home.

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