FSBO- Why people decide not to do it again.

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Have you ever taken on a project- building a bookshelf or making that perfect craft project and it just looked easy until you actually did the work? It seems selling your home without a real estate agent fits the bill just like those annoying projects!

Did you know that over ten percent of home owners in the US looking to sell their home were FSBOs (for sale by owner) in 2011, according to a National Association of REALTORS® survey. Approximately half of those selling on their own already knew the person buying their home, which gave them a major leg up from the get go!

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. So even those with the buyer handed to them on a silver platter said no way would they do it again!

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.