What is for sale by owner? This real estate term refers to a homeowner who sells their own home without hiring a real estate agent. An FSBO does cut out the “middleman” and enables the homeowner to not pay a commission to the Realtor but the question that any Orange County homeowner who is considering this option must ask themselves is this option really worth it?
What The Buyer Will Think
In today’s Orange County real estate market every buyer is looking for a great deal on a home. When they see a home that’s listed as For Sale By Owner (FSBO) the first thought that comes to mind will likely be “I can get this house for a bargain” even though it wasn’t the homeowners intention of offering their home at a bargain price to potential buyers. Other buyers will think that the reason why the homeowner is selling their home themselves is because, it’s a distressed sale so the homeowner who chooses the FSBO option will have their work cut out for them from the beginning when it comes to “weeding out” legitimate buyers from bargain hunters or time wasters.
Sellers Are Not Prepared For It
Many Orange County homeowners who choose to sell their homes via FSBO are not prepared for the work involved with marketing their home to the local area. It’s not enough to just put up a sign in your front yard and expect potential buyers to come in the door. Homeowners have to be prepared to market their home locally and on the internet in order to drive traffic to their home and get more qualified buyers. What many people that try to sell their own home do not realize is that Realtors have access to the MLS, whereas FSBO sellers to not which severely limits the amount of people that are able to view their home. This lack of views also results in a lack of competition when receiving offers and helps decrease the overall quality and price that is finally accepted. With all of the work involved that comes with getting a home ready for sale, marketing and reviewing offers it just makes more sense for a homeowner who is interested in selling their home to hire a top Orange County realtor than to sell their home themselves. Since 84% of FSBO homes ultimately end up being listed by a Realtor anyways, it not only saves time, but could also help you receive a higher price for your home (which a good realtor would more than make up for with the increased price received for the home). If you are planning on selling your Orange County home contact Fred Sed & Associates today at (949) 272-0125 to connect with our team and learn more about how we will help you.