There is more than one way to sell your home, but what is the best method for you? Before answering that question, there are several things you need to consider: When should you begin listing your home? What is your asking price? How can you maximize your exposure? These are only some of the questions a typical seller would need to ruminate on before they can even kickstart the sales process. Needless to say, selling your house is an overwhelming undertaking. But it does not have to be! You will only need to take into account these considerations if you are planning to sell the house yourself, also known as opting to sell For Sale By Owner (FSOB). However, if you choose to hire a Tenafly realtor instead, the process will be very different. Here are 5 reasons why you should not choose to sell FSOB in Tenafly.
Pricing
Pricing might seem intuitive at first but that is simply not the case. It is not a simple matter of looking up the market value of your property and that of the house down the street. There is a strategy behind how properties are priced, determined by the condition of the home, demand as well as location. Sellers generally have a personal and emotional attachment to the home they are looking to sell, which may skew their perception of how much their home should be sold for. With the impartial eye of a realtor assessing the price of the property, there is a much higher chance of the sale being successful.
Research
What should you look out for in real estate contracts? Are there loopholes or red flags? How would one even go about doing research? A seller might not have the experienced eye to pick out any issues with the contract or the resources and network to have insight into the potential red flags prospective buyers may have. A good realtor will be trained and knowledgeable, with a standard process that helps them screen potential buyers. In essence, they are more equipped to deal with the minutiae of the sales process.
Audience
FSOB sales often make real estate agents very nervous and it’s not hard to see why. Agents have a responsibility to ensure that the process goes without a hitch for their clients. Unfortunately, due to their lack of training and experience, FSOB sellers are unfamiliar with the due process and may unwittingly cause delays, or in extreme situations, cancellations. This is a pitfall that may put both seller and buyer at a disadvantage.
Paperwork
We can all agree that paperwork is tedious. Unfortunately, selling your house involves a lot of paperwork. Sellers opting for FSOB will have to wade through the real estate jargon and endless paperwork themselves. What’s more, every form will need to be filled out correctly as even one mistake may cause delays. This would mean spending hours sifting through forms, an unnecessary stressor on top of a busy schedule.
In conclusion, it is evident that the disadvantages of FSOB outweigh its benefits. If you are looking to sell your home, seek out a realtor in your area after doing your research. Find a realtor that suits your needs and the process of selling your home will be seamless and stress-free!
