In the real estate world, “For sale by the owner” or FSBO simply means – a process by which the homeowner sells the house directly to the buyer. No involvement of the real estate agent. This spares both parties from steep commission fees.
Sounds cool? Not Really! No matter if you save some costs initially from eliminating the commission fees. This DIY project will end up being more costly going forward, especially for inexperienced sellers. That is why; it is consistently an unpopular option.
Before you proceed with the FSBO route, Real estate agent San Antonio wants you to consider these pros and cons of selling the house by the owner.
Pros of FSBO –
Low commission fees –
One of the most appealing and common reasons for taking the FSBO route is the potential of saving costs. When you sell your house through a San Antonio Realtor, you can expect to pay 5% to the agent as commissions, of which 3% will be to the listing agent and 2-3% to the buyer’s agent. But, when you sell the house by the owner, you will only need to pay for the buyer’s agent commission. This can reduce what you have to pay in commissions significantly.
More control over the sale –
When you sell your house through FSBO, the pricing power stops at you. It can be a blessing and a curse. But, you get to have a final say on the listing price of your home, what improvements you make, how you stage it for the sale, and ultimately, who you sell it to. If you like to have control, then FSBO will be the right choice for you.
It also means that you will be handling each and every part of the transaction, whether you are prepared or not. San Antonio realtors approach their relationships with their clients as a partnership. They guide you along the road to closing and actively seek your input. This way, you get to have a say in the transaction and also rest easy at night knowing that you have a trusted partner alongside to help you out.
Insider Knowledge –
You have first-hand information about your home and know it better than anyone else. You also are aware of the neighborhood and the part of a community that you are living in. this way, you can share this insider knowledge with the prospective buyers who are keen on knowing what it will be like to live in your home.
Nobody knows their home better than the owners themselves. That is why when you list your house for sale in San Antonio TX, you can share all the information that you love about your home with your San Antonio realtor. They will then incorporate these details into the marketing copy and work towards getting your home sold.
Full dedication towards selling your house –
When you are the sole individual responsible for selling your house, you get a chance to stay 100% focused on getting the house sold. Sometimes, other realtors can be working with multiple clients and juggling in between their needs, especially during the busy season. When you are the FSBO seller, you need not worry about your home selling getting the attention and time it deserves.
Cons of FSBO –
No Price Strategy –
Pricing your home is never easy. However, pricing without the help of a San Antonio realtor is a different story. It isn’t a surprise that pricing continues to top on the list of FSBO challenges. Because the public access to the market data is limited, the homeowners have no clear way of knowledge as to which homes are and aren’t selling. And because you don’t disclose the closing prices publicly, there is no precise way to compare the home value to another.
You can use the Automatic Valuation Model (AVM), every AVM relies on unique criteria and data which leads to a wide variety of estimates. So, you may not know which one to trust or not. Because of these reasons, it will be wise to hire a licensed San Antonio realtor who will strategically price your house based on the neighborhood local data.
A biased opinion –
It is very important to make your home listing-ready. First impressions are everything and you want the buyers to see your house in its best state. You may love your interior décor. But, others may not. San Antonio realtors can provide unbiased suggestions and also recommend quick improvements to make your home as marketable as possible.
Real estate agents in San Antonio are well versed in the art of home staging. They understand which investments pay off and which will be a fail. Our agents will provide you great home staging recommendations and make your home ready for the spring sale.
Yes, spring is the best time of the year to sell your house. For more info on this topic, click here.
Lack of real estate knowledge –
legal acronyms, terms, and other jargon can be quite overwhelming for the inexperienced seller. If you rent very confident with every detail that you will be signing, things can get a little shaky and we recommend that you do not risk it.
Real estate agents offer you the complete expertise and guidance that you will need on things like pricing, marketing strategy, knowledge, legal standards, etc. They are skilled at negotiating terms with the buyer’s agent and buyers, inspectors, lenders, and appraisers.
If you are doing it alone, you can only rely on the resources you have access to. There are plenty of resources available out there. But no two transactions will ever be the same and knowing the right course of action to take can prove to be difficult as well as stressful.
The bottom line –
Selling a house is a huge time commitment. It takes proper planning and conducting the necessary repairs and improvements, home inspections, approvals. The to-do list is endless! Also, selling your house on your own can seem like a full-time job.
So if you have time, then yay! But if not, then you aren’t alone. That’s why Reyes Signature Properties, a renowned real estate agent in San Antonio is here to help you out. We not only will save your time and money but will also help you tackle every challenge that is listed above.
So, what are you waiting for? Sell your house on your terms with a trusted partner by your side. If you have decided to embark on your FSBO journey, we are here to assist you.