Selling your home as a For Sale By Owner (FSBO) may sound like a great idea when you are trying to save money on real estate commissions, but according to the National Association of REALTORS®, less than 10 percent of FSBO homes actually sell.

Here are five reasons why FSBOs fail:

1. You don't have the local market knowledge that an agent has to price your home correctly. REALTORS® work in the market every day, and they know what's currently on the market, what homes are selling for, and how your home compares. If you overprice your home, it may sit on the market a long time, and if you underprice your home, you're cheating yourself out of real money.
   
   
2. You aren't an expert at marketing real estate. Real estate agents are, or they have associates who are. It would be difficult to compete with the Multiple Listing Service and other tools real estate agents have at their disposal. More importantly, a listing agent has colleagues, multiple offices, and networks available to give your home broad-based exposure. Best of all, they cover the marketing costs, not you.
   
   
3. FSBO sellers don't always recognize the simple improvements that will help sell their home. Whether it's cleaning out closets or painting the exterior, it's hard to be objective when it's your home. You can get valuable advice from a real estate agent on what will make your home appeal to potential buyers. Going it alone could mean going overboard with new carpets when a cleaning might do, or conversely not pruning the bushes when that would do wonders for your curb appeal.
   
   
4. It's hard to be available when buyers want to look, particularly if you work full-time. Real estate agents are available to show your home when a buyer wants to see it, and most buyers are uncomfortable with a hovering homeowner. Some buyers avoid FSBOs altogether.
   
   
5. Negotiations can be tricky and the paperwork can be extensive. A real estate professional will handle your negotiations without emotion and provide advice. An agent also handles all the paperwork: contracts, amendments, disclosures, escrow payments, responding to repair requests, and meeting the required deadlines. Since the deal isn't done until all the details are handled, it's best to let a professional handle both the negotiations and all of the required documentation. With a pro in charge, you're more likely to actually make it to the closing table.

If you'd like to talk about listing your home in our local real estate market, please contact me.  I'll be happy to discuss selling your home and getting the best price possible for you.