Ten percent of homesellers in the U.S. were FSBOs (for sale by owner) in 2011, according to a National Association of REALTORS® survey. Approximately half of those selling on their own already knew the person buying their home.
The survey does not get into the reasons why, but I have a few theories:
- Figuring out the right price takes research and experience. Overpriced homes can remain on the market a long time, often selling for less than if they had been correctly priced in the first place. And underpricing? You don’t need an explanation why that’s a problem.
- Showing a home to every interested buyer is time-consuming. And you don’t want to show the home to people who can’t afford it or, worse, have criminal intentions.
- Real estate transactions are complex. You must negotiate stacks of legal documents and take care of details with many different service providers.
- Making a mistake in a home sale can lead to delays, unsuccessful transactions, and legal trouble.
- Many people find negotiating difficult and/or uncomfortable.
If you’re thinking of selling your home without a Texas REALTOR®, make sure you understand what’s involved. You may decide you want to proceed. Or, you might decide that hiring a professional will save you time, reduce your stress, and help you avoid hassles.