The Pitfalls of FSBO Why It’s Better To Hire A Real Estate Agent
FSBO, or “For Sale by Owner” offers in Liverpool, NY may appear to be pretty tempting to consider, especially if you’re looking into buying property for the first time. Without the aid of a real estate agent to secure the deal, you might be lured into opportunities that may present themselves as cheaper and faster. This is because of the fact that there isn’t a real estate agent to manage the deal.
You might think that you may be more in control of the sale and thus exempt from certain payments, but we’re here to tell you that FSBO isn’t the most secure way of closing a deal on a property. If you’re looking for the best property deals in Clay, New York, it’s best that you take the following disadvantages into consideration and opt to go for a deal with a real estate agent instead.
FSBO Sellers May Hike Up Their Prices Due To Emotional Attachment
Since there’s no one to help them price the property accordingly, you might end up paying too much for a property instead of paying just the right price for it. FSBO sellers might have too many sentimental memories made in the property they need to let go of, thus pricing it considerably high to try to make up for the emotional loss somehow.
Make sure you don’t fall into this trap and find out if a property is actually priced properly.
The Deal May Be Delayed Due To Filing Paperwork
The advantage of having a deal overseen by a real estate agent is that you’re inevitably paying this agent to make sure that every permit, document, contract, and anything else of legal note is properly taken care of while the sale is commencing.
If a buyer or seller will go through selling property via FSBO, you’ll likely be dealing with just one person who’s tasked to show off the property, explain its different benefits, and handle all the paperwork to boot. There’s more margin of error here too, which may inevitably cause more problems and confusion down the line!
FSBO Sellers May Officiate Sales That Are too Time-Consuming
Selling a home isn’t as simple as signing a few papers, making some transfers, and calling a U-haul to move all your stuff. It’s a full-time job that can sometimes consume even more time than you initially intended. A buyer may have more questions about the property. Some documents of the property may not completely be in order. Repairs might have to be made before the sale, and so on.
If you plan on selling your property and are considering going FSBO with a full-time job on your hands already, don’t bother. You don’t want to miss important work and deadlines just because no one else can meet with your buyer this instant.
You Might Miss Out On Some Skilled Negotiating
Contrary to popular belief, real estate agents aren’t simply there to automatically hike up the price of a property. They’re skilled negotiators who understand what the best price point is for both buyer and seller. As a buyer, you might be victimized by a shady FSBO seller, and may not even know it. As a seller who decided to go FSBO, you might think you’re already giving out the best price for your property without knowing that you’re short by a few thousand dollars.
Repairs are another important aspect of the negotiating process that both parties in an FSBO situation might not be entirely aware of.
Consult With Us Today
Unlike the many disadvantages that have to do with pushing through with an FSBO deal, we advocate for deals that leave both buyer and seller happy with what they get at the end. Feel free to contact us at Procopio Team at Hunt Real Estate if you’re in need of expert real estate agents known for being excellent communicators, performers, and results-oriented professionals from 2011 onwards.
If you’re looking to connect with a family-owned and operated real estate company, just click our name above and click the Request More Information button. Answer the online form in just a few short minutes, and you can even select the Free Home Evaluation option if you want our expertise instantly.