Major Reasons for Selling your Home Yourself:

1.  Do not want to pay commission:  61%

2.  Don’t want to deal with a real estate agent:  6%

3.  You have your own real estate license: 2%

4.  Selling to neighbor, friend, relative, someone you know:  9%

5.  An agent was unable to sell your home:  2%

6.  Unable to find agent to handle transaction.

7.  Buyers contact you directly:  9%

8.  Other: 2%

 

Tactics of For Sale By Owner
Sellers to Market Home

For Sale Sign in the Yard: 63%

Ads in local newspapers: 44%

Holding open houses at the For Sale by Owner property.: 33%

Gaining help of friends, neighbors, relatives---word of mouth: 25%

Running FSBO ads on the Internet: 24%

Direct mailing of postcards, flyers to key addresses: 6%

Advertising in a For Sale By Owner magazine: 6%

Running television commercials: 1%

Other: 9%

 

But First a Few Words of Caution:

1.  Do you make more money by selling your home yourself?

No.  In 2004, the median price of FSBO-sold homes was 15.4% lower, when compared to the price of agent-sold homes.  Thus, people who want to save money by not having an agent are actually losing money, not saving it.

After all, it is what you GET, or NET, that counts when selling a home; not what you SAVE.  Agents can show your home to more people and thus often have people competing for your home, which ups the price. 

 

2.  Many pitfalls await For Sale By Owner sellers today that weren’t there before.

a.  A bewildering array of complexities and arcane paperwork is required.

b.  Buyers are more inclined to sue FSBO sellers if something was not disclosed beforehand.

c.  It requires a tremendous amount of time to sell a home yourself; you are almost always on call.

d.  Great property risk is involved.  People who are skilled at theft during home showings and open houses may steal your goods from your home.  You have to keep EVERYTHING valuable all locked up all the time.

e.  Great personal bodily risk is involved.  You will be routinely letting strangers come in contact with you and your family members, out of sight of the street, and capable of locking you inside your own home and taking over.  Is that really worth it?