By Rich Rodenburg, Nebraska Home Sales Realtor
In today’s housing climate, a lot of sellers are thinking all they have to do is put a For Sale by Owner (FSBO) sign in their yard and buyers will flock.
In today’s housing climate, a smart buyer will have a Realtor using the MLS (multiple listing service) to show them homes as they come on the market. A FSBO home won’t show up on Realtor’s lists, so the pool of buyers ready to flock is greatly reduced. (It is not uncommon for multiple showings and offers on the first day listed on the MLS.)
Most buyers depend on their Realtor to guide them through the buying process, and most are reluctant to proceed without that expertise. They will pass on (or never know about) the FSBO listing. Even if hands are shaken on the sale of a FSBO, and both parties somehow muddle through a Purchase Agreement Contract, there are still hurdles to jump, often with emotions getting in the way. Too many times something trivial pushes the deal off course. It is a major part of a Realtor’s job to keep those emotions in check throughout the process.
One of our Nebraska Home Sales Agents compiled a checklist of the steps that are entailed by a Realtor to have a successful closing. The checkboxes counted well over 100, and that was for one side of the transaction. The other side also had that many. To think that someone not licensed to do real estate knows what those boxes are, much less know how to check them off, is where many FSBO transactions become extremely difficult, emotionally draining, and often fail completely. Our books are filled with clients who tried to do it themselves, failed, and came to us to successfully sell their homes.
The National Association of Realtors has done studies showing that, even saving commission, the FSBO ends up with less in their pocket than those who rely on an agent to help them sell their home.
We do this for a living. Please rely on us to help with this most important transaction.