Sometimes it’s just hard to decide some things in life, like should I get take-out and risk exposing myself to Covid-19, or brave eating left overs for a third night in a row. Other decisions are a bit more complicated and can impact your pocketbook even more than this or getting Runza for a three straight nights in a row. Decisions such as if you should list your home with a realtor or for sale by owner (FSBO). This one decision could be the difference between thousands and thousands of dollars and more than a few headaches. Below I have the top 5 reason to list your home for sale by owner right here in Lincoln, Nebraska.
1. You can make more money, a lot more money
There is no doubt that realtor commissions eat up a lot of money with each and every sale they are involved with. I’m not saying they don’t have their place and provide valuable services, but they are very expensive. Let’s say you list your $300,000 home with a Realtor and someone offers full price for your home, well, at closing you will have to fork over between 4-6% of the total sale price, in this example that that’s between $12,000 and $18,000, wow. This reason alone is one of the strongest factors home sellers consider when deciding to sell their home themselves or not.
2. Direct access to the buyer
This means there is no middle-man in between you and your buyer. The advantage to having direct access to the buyer is that you can get a better understanding of their situation without 2 interpreters (realtors) in the middle. This comes with a caveat, you have to have some verbal skills to use when negotiating and dealing with potential buyers. Without some basic skills and a game plan, you could turn a potential great deal into a big mess.
3. You’re in control of the deal
For many sellers this is a key reason to sell FSBO here in Lincoln. There is no one in the middle of your sale. This advantage is especially appealing to sellers who like to know all the details of a situation, like to be hands on, or sellers who are real problem solvers. With full control of the deal you can only rely on your own cunning and expertise to get you through to a successful sale of your home, but the reward in doing so far outweighs the extra stress in getting to the finish line.
4. You can easily change course
Starting out selling your home FSBO and then changing strategies is not a big deal. You have only really let yourself down a little, but there is no agreement you have with anyone that says you have to list your home FSBO for 6 months, such as realtors often get sellers with. Starting for sale by owner then shifting to using a realtor is no big deal, but moving the other way around can be. If you can swallow your pride and admit when you need help, this is a pretty safe strategy. Should things not turn out the way you planed and the FSBO route has got your climbing the wall, you can always reach out for some more professional help, even if it means taking a big hit to your bottom line, and your pride.
5. You decide who to let into your home
Selling FSBO means you’re the gate keeper. If there is someone you don’t like the sound of or just have a bad feeling about, you don’t have to let them inside your house, this is not so when listing on the MLS with a realtor. This advantage is especially important to families who have a lot of valuables in their home or when their home just has a lot of sentimental value to them, you can be sure the potential buyer is 100% approved by you. Just don’t forget to also make sure they’re approved by a bank as well before showing your property.
Conclusion
Consider the reasons above when deciding between listing your home FSBO or with a realtor here in Lincoln, NE. There are many possible advantages to listing your home yourself, however it is much more hands on and requires some pretty good verbal communication skills. There are of course many other considerations and situations you may face when deciding to list your home for sale, and those situations may leave you with fewer options. However, if you’re up for the roller coaster that listing your home yourself is, then best of luck in your new adventure.
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