To Fsbo Or Not To Fsbo?

Selling your home yourself can save you thousands of dollars in commissions

. However, that doesn't mean you should necessarily do it for the following reasons.

A Daunting Task

It is no joke to sell your home, to put it concisely. What if you have a job that demands not only your time and effort, but has you always on the move even when you have left the workplace? What if your job demands that you travel a lot? Are you a musician, stage actor, (gulp) Hollywood actor? Do you work more than eight hours a day? Do you have to study or do homework assignments like a student would, in order to guarantee the impeccable quality of your work? I might have touched a nerve with any of the above descriptions (or maybe more), and if I have, then things are too exciting and/or demanding as of the present for you to go FSBO.

My suggestion is that if your work is exhilarating, challenging, and consumes large amounts of time, you will probably be better off working with a Realtor. Take the time when you first put your home on the market to interview an agent or two. Ask how they market their listings. Ask if they keep their clients informed about the status of their property's marketing. Demand references. When you find one you feel can and will do a good job for you, sign a listing agreement. You can potentially save a lot of time and effort if you choose the right agent.

About Being a Novitiate Home Buyer

You are probably a good candidate for working with an agent if you have never bought or sold a home before. The same would apply if it had been years, maybe even decades since the last time you bought or sold property. Ditto if you have not bought or sold a home in this part of the county before. People who work for settlement agents, lenders, and the like are probably exceptions to these general ideas about who shouldn't go FSBO. This would allow you to glean some valuable experience in the industry even if you do not buy or sell homes regularly.

Older people are usually better off working with an agent. In most instances these would be homeowners who have owned their property for several years, even decades. Over time, the property would have appreciated, as the owner insouciantly goes by his/her everyday business. The owner now wants to buy something all on one level in a community in which the exterior and grounds maintenance chores are handled by an association. But this cannot be accomplished if they do not sell their home. One simple thing the homeowner could do would be to increase their savings from the sale, which would result in lower operating expenses for the new home compared to the old one. The idea of making a big change and the multiplicity of accompanying concerns is daunting. A good agent can make a world of difference.

If this sounds like you (whether it may be the first or second situation), then I would advise against your going FSBO.

by: Anna Nesbit

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