Why You Shouldn’t “For Sale By Owner” Your Charleston Home

Posted By Shawn Pillion @ Dec 30th 2019 11:53am In: Buyer Info

Why You Shouldn’t “For Sale By Owner” Your Charleston Home


Rising Charleston home prices coupled with the current low inventory in today’s market may cause some homeowners to consider selling their homes on their own (known in the industry as a For Sale By Owner).

However, a FSBO might be hard to execute well for the vast majority of sellers.

Charleston SC FSBO

Here are the top 5 reasons not to FSBO:


1. Online Strategy for Prospective Purchasers

Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Most real estate agents have an Internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

According to NAR, here’s where buyers found the homes they actually purchased:

55% on the Internet
28% from a Real Estate Agent
10% Other
6% from a Yard Sign
1% from Newspapers


The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here’s a list of some of the people with whom you must be prepared to negotiate if you decide to FSBO:

The buyer, who wants the best deal possible
The buyer’s agent, who solely represents the best interest of the buyer
The buyer’s attorney (in some parts of the country)
The home inspection companies, which work for the buyer and will almost always find some problems with the house
The appraiser, if there is a question of value


4. FSBOing Has Become Increasingly Difficult

The paperwork involved in buying or selling a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

5. You Net More Money When Using an Agent

Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.

A report by Zillow revealed that FSBOs are inclined to do so because they believe it will save money (46 percent cite this among their top three reasons), but they don’t actually save anything, and eventually end up listing with an agent.

The same report revealed that,

“While 36% of sellers that (at first) attempted to sell their homes on their own, only 11 percent of sellers—in other words, less than a third…actually sold without an agent.”
It appears working with a real estate professional is the best answer.

Bottom Line


Before you decide to take on the challenges of selling your house on your own, reach out to the experts at ChuckTown Homes Real Estate to discuss your needs.

ChuckTown Homes Real Estate

__________________________________

Image

147 Stono Drive
Charleston, Sc

MLS# 19020222 - Residential

LOCATION-LOCATION-LOCATION!! LUXURY WATERFRONT LESS THAN 5 MILES TO DOWNTOWN*X FLOOD ZONE*This extraordinary waterfront home sits on high ground nestled among live oaks on the banks of the Stono River just minutes to downtown Charleston in the highly sought after Riverland Terrace Community on the coveted Stono Drive. The home sits west facing for unrivaled low country sunsets every evening to enjoy from your back yard. Architect, Neal Van Dalen thoughtfully blended sophisticated bright open interior rooms that seamlessly transition into outdoor spaces to thoroughly enjoy the water lifestyle all while capturing water views from nearly every single room.The home offers five bedrooms and four and a half bathrooms in the main home and a one bedroom one bath carriage house apt.

View Listing Details


 


Share on Social Media:

Comments (0)

Be the first to comment on this post!

Post a Comment

Email not published - will display gravatar if available