subject: Weighing The Pros And Cons Of Fsbo-ing Your Fort Lauderdale Real Estate Property [print this page] Homeowners who would rather have the whole proceed of the home sale for themselves are more inclined to sell their property on their own. Also known as FSBO (For Sale By Owner) is not a new-age trend; it has been around for years. And with the increasing number of real-estate savvy homeowners, several properties are now being sold without a listing agent. If you're planning to sell your Fort Lauderdale real estate property on your own and cut the middle man, weigh first the pros and the cons before you make a trench of woes.
Advantages
The obvious advantage of FSBO-ing your Fort Lauderdale real estate property is the elimination of agent commission. The amount you need to pay for the agent is negotiable but generally runs around between four to seven percent of the selling price. But before deciding to go to this direction, make sure you are up for it and ready for the responsibilities, which typically include marketing and tours.
Furthermore, there are several things to consider before you decide to sell your Fort Lauderdale real estate property on your own. These include the following:
Serious buyer
Extensive knowledge of the neighborhood that can rival that of a real estate agent
Strong market
Agent-less buyer
Great negotiating powers
Time to dedicate for preparing, marketing and showing the house to prospective buyers
Drawbacks
While not all can happen at the same time, some of the following disadvantages can potentially occur. So before you FSBO and avoid major drawbacks, make sure you get your ducks in a row.
Pricing the property too low or too high
Not enough ability to negotiate with buyers
Not enough knowledge in proper home staging and marketing
Unfamiliarity with the closing process
Legal problems
It will be greatly disadvantageous if you meet a savvy homebuyer who is more well-versed in the real estate market that you. This is why its extremely crucial to get those real estate books out and learn about the process as much as you can.
Yourself vs. Agents
Lets face it, even if youre quite knowledgeable about real estate, a great real estate agent will always take home the trophy. For starters, you can take advantage of a network of important resources that a real estate agent can provide for your Fort Lauderdale real estate property. Furthermore, a professional has years of experience and extensive contacts that will prove to be useful especially during tough transactions. So be sure you think twice before you choose to paddle your own home sale boat.
