Why couldn't I TRY to sell my house on my own first and then if it doesn't sell, I'll list it with a REALTOR^®?

The most interested buyers for your house will want to see it within the first weeks of the listing - which would seem like the opportune time to try FSBO.  However, it the house isn't priced exactly right, the house will likely sit while the interested buyer's will "wait and watch".

Then when the seller lists with a REALTOR^®, the house never regains that NEW intensity of just hitting the market.  And the interested buyers from the first weeks may have moved on to other property or because they were "orphaned" buyers, the REALTOR^® has no way of following up to get them back for a second look.

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What's wrong with the logic of selling by owner to save the commission?

A seller who does not mind representing him/her self and taking on the responsibilities of a REALTOR^® will sell FSBO thinking that they have saved the cost of a real estate commission.  Buyers know there is no real estate agent involved and they expect the seller to sell their house LESS so that the buyer can save the same amount (of commission fee).  The problem is that two people can't save the same dollar!  And if the seller lets the buyer win, then the seller didn't really save anything - and in addition, the seller has taken on a second job to cover the duties and responsibilities of a REALTOR.^®

Selling FSBO is a gamble that may pay off - but at what cost?  What will you end up spending in newspaper, TV, Internet and other advertising?  How much time will you invest in dealing with buyers who are just "curious" about your house.  How much do you know about the stranger that calls up and wants to come over and look all around your house?  What will you do when there's a problem?

REALTORS^® are trained problem solvers who's #1 motivation is to see that all details go smoothly and that the closing takes place on time and you can move on with your life.

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Can't a FSBO just draw up their own purchase agreement ?

Never write or sign an offer to buy or sell real estate by yourself unless you have a lot of experience dealing with purchase agreements.  Even then, a purchase agreement that is not from the local board of REALTORS, could be full of loop holes that could cost you money or worse, liability.  Our local board of REALTORS contract is fair and equitable to both buyer and seller and was created by a team of local attorneys with a great deal of REALTOR input.  We have tried to think of every possible scenario to avoid confusion and frustration later in the closing process.

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