Real Estate Agents: Think Twice Before Signing Up for Automated Social Posting
Social media is a blessing and a curse for real estate agents. It has made it so much easier (and less costly) to stay in
If you’re considering selling your house “for sale by owner” (FSBO), you probably think now is as good a time as any in history to give it a try.
After all, technology has made it easier to market your house to potential buyers in the market, and there’s a shortage of houses for sale. So how difficult could it be to sell your house on your own?
Apparently not that easy…
Some percentage of homeowners try to sell their house FSBO every year, usually in an attempt to try and save money on commissions. But even though it’s supposedly gotten easier to sell a house, fewer sellers are attempting to do it as each year passes.
According to the 2024 Profile of Home Buyers and Sellers from the National Association of REALTORS®, FSBOs dropped to an all-time low of 6% of all home sales in the past year, and there’s been a downward trend over the last 40 years. FSBO sales accounted for up to 21% of home sales back in 1985, but have decreased each year since and have been in the single digits since 2010.
In reality, selling a home isn’t quite as simple as putting up a “For Sale” sign in your yard, and waiting for buyers to pour in. From pricing and marketing to negotiations and paperwork, selling a home involves much more than just finding a buyer.
But even if you have a handle on every aspect and nuance of selling a home, one thing you can’t easily overcome is how buyers think, feel, and act. And unfortunately for FSBO sellers, many buyers are hesitant to consider their properties because they’re concerned about dealing directly with the owner. Here are some reasons why:
Those are just a few reasons that FSBOs generally attract a much smaller pool of buyers than homes listed with an agent. So if you’re considering trying to sell your own home, be aware that you’re limiting yourself to buyers who are comfortable buying a home directly from an owner.
If you want to expose your home to the largest possible pool of buyers and sell your house quickly and for the most money possible, your best bet is to list your home with a real estate agent.
The Takeaway:
While selling your home “for sale by owner” (FSBO) might seem tempting to save on commission, it often comes with challenges that limit buyer interest. From trust issues and scheduling hassles to buyer discomfort with unrepresented sales, FSBO properties tend to draw a smaller buyer pool. If you want to maximize your exposure and sale price, working with a real estate agent is most likely going to outweigh any potential savings you’re hoping for.
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