FSBO Drawbacks

The Facts About "For Sale By Owner"

Buying or selling a home may be the most important transaction of a lifetime. While some may think they can “go it alone” without the help of a licensed real estate professional, the risks may be too great. It takes market knowledge and expertise to complete a complex real estate transaction, to set the price right, understand the paperwork and best to prepare and market the home for sale.

It’s often an experience people find less than rewarding.

The numbers (if not the sellers) tell the story. According to the 2007 National Association of REALTORS® Profile of Home Buyers and Sellers:

Homes sold with the help of a real estate professional in 2007 sold on average for 32% more than FSBO sales. The median FSBO selling price in 2007 was $180,000, compared with $240,000 for agent-assisted transactions.
Just 12% of sellers chose the FSBO (“For Sale By Owner”) route in 2007, down from about 20% in 1987.
Nearly half of all FSBOs sold their homes to someone they knew prior to the transaction. This means that only a small percentage of all home sales are open market FSBO transactions, where the seller was able to sell on his own. The rest are simply unrepresented sellers in private transactions.

Most difficult tasks for FSBO sellers were identified as:

Getting the right price
Understanding paperwork
Preparing/fixing up the home for sale
Attracting potential buyers
Selling within the length of time planned

As an expert in marketing and negotiation, your Illinois REALTOR:

Can help you set a realistic price and ensure the proper paperwork, various disclosures and inspections are handled correctly.
Knows how to prepare a home for sale and show it more objectively than a seller who may be emotionally attached to the home.
Can attract qualified buyers and provide broad exposure to the market. REALTORS also are more likely to generate multiple bids than sellers can on their own.
Checks the financial capability and bona fides of buyers before allowing them onto a seller’s property.

FSBO Drawbacks

The Facts About "For Sale By Owner"

Most difficult tasks for FSBO sellers were identified as:

As an expert in marketing and negotiation, your Illinois REALTOR:

Why Sell with a

REALTOR^®

Sellers who use a real estate professional sell their homes for 32% more than FSBO sales home than do sellers who go it alone. Unrepresented sellers often do not understand the complexity, range and timing of tasks they will have to perform if they don’t use a professional.

FSBO Drawbacks

The Facts About "For Sale By Owner"

Most difficult tasks for FSBO sellers were identified as:

As an expert in marketing and negotiation, your Illinois REALTOR:

Why Sell with a

REALTOR®

Sellers who use a real estate professional sell their homes for 32% more than FSBO sales home than do sellers who go it alone. Unrepresented sellers often do not understand the complexity, range and timing of tasks they will have to perform if they don’t use a professional.

REALTOR^®