Is For Sale By Owner A Good Option When Selling?

A vendor can definitely make great savings if they opt to sell their own property. As we all know 10K saved is as good as 20K earned. However there are pros and cons and variables that can make a difference. I am lead to believe, although I haven’t seen the report personally, that generally, for sale by owner transactions usually disappoint in the results achieved as far as price is concerned. The result is that what you pick up on the swing can be well and truly lost on the roundabout with lots of  interest, but it doesn’t have to be that way.

Agents well know that buyers don’t have the slightest bit of interest in the agent, indeed buyers will even buy from an agent they don’t like or even detest, their only interest is the property under consideration. This is consistent with the industry observation that ” vendors follow agents while buyers follow property” so in one sense it doesn’t matter one iota who is selling the property from a buyer’s perspective, whether its you or an agent representing you makes not the slightest bit of difference. What can make a huge difference to the result is the critical skill of negotiating ability which is something a good agent can bring to the table. Anyone at all can take photos, create copy and conduct inspections, but at the end of the day the result is likely closely associated with  the ethic, motivation and negotiating ability of the agent, which is not necessarily indicated by the number of sales that a given agent can achieve, given the fact that higher turnover is accompanied by the commercial reality of lower prices. The quality of the agent has a big impact on the result achieved and if you don’t have an agent committed to an ethical or quality result, then yes you would be far better off selling the property yourself. The other consideration is the brand, F.S.B.O. listings on real estate portals and signage erected on the property convey to a potential buyer a dead set giveaway that an agent has not been appointed potentially raising suspicion in the mind of a buyer as to the legitimacy of the listing, the price and perhaps interpreting this as an indication that the vendor is desperate and open to silly offers.