There is a perception among buyers that a FSBO automatically means good deal (read that as lower price).
While FSBO sellers are attempting to save on a real estate agent commission there is no guarantee they are offering a product that is reasonably priced even if not discounted.
Buyers I have worked with through the years have been pretty consistent if the topic of FSBOs ever came up during a conversation. The overwhelming opinion is a "FSBO" is really discounted.
I suggest this approach for buyers who show any interest whatsoever in a for sale by owner home.
- Write down the information from the sign but don't contact the seller.
- Discuss the home with your real estate agent.
- Let your real estate agent contact the seller and arrange a visit.
- If you like the home and want to make an offer, follow your real estate agent's advice. This includes a comparative market analysis, comparable research, requesting disclosures, etc.
- If the seller will not pay your agent (many FSBOs will), consider the benefit versus cost to have your own agent working for you.
If you are considering selling your Viera, Florida home as a FSBO, send me an email. See how little it costs a seller to have professional assistant in selling your Viera home.
"Discount" image courtesy of Stuart Miles / FreeDigitalPhotos.net
"For Sale By Owner" image courtesy of Stuart Miles / FreeDigitalPhotos.net