Selling Your Own Home: Big Savings or Big Mistake?

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Whenever homeowners are considering selling their home, one of the first questions they often ask themselves is should they try to go down the path of ‘for sale by owner’ instead of listing with a real estate agent.

It’s a fair question to ask and many homeowners think they can manage the process on their own while saving commission to an agent.

It seems like saving an agent’s fee is a win-win situation for buyers and sellers – or is it?

The ones who do go down this path quickly become disenchanted with the process and all that’s involved in trying to sell a home, especially when they realise they can’t list on Australia’s number 1 real estate site – realestate.com.au.

Most agents aren’t worried about competition from homeowners who want to sell on their own; they’re more concerned about them unwittingly putting themselves in financial risk by doing so.

One of the main reasons buyers benefit from a ‘sale by owner’ is because there’s a pre-conceived notion that the vendor is in financial trouble in the first place because of their choice to sell their own home, and expect a large windfall favour by purchasing from a ‘sale by owner’ vendor.

HOT OFF THE PRESS FROM REAL ESTATE BUSINESS MAGAZINE:

“The founder of a website that urges home owners to sell their property without an agent has been forced to give up trying to sell his own home and call in a professional.

Former CEO of ForSalebyOwner.com, Colby Sambrotto, listed his New York condominium through online classified ads and FSBO sites last year. Six months on, however, he opted to hire New York agent Jesse Buckler.

Mr Buckler immediately advised a price change as the listing was not attracting the right buyer.

After giving up on the DIY route, Sambrotto’s decision to hire an agent led to the property attracting multiple offers, closing for $150,000 over the original asking price.” July 24th, 2012

If you’re thinking about upgrading, down-sizing or relocating, we should talk.

Contact Calibre Real Estate to see how we can help!

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