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Why Some People Choose FSBO

For Sale By Owner (or, FSBO — often pronounced “fizz-bo”) is when the owner of the home decided not to hire a real estate agent to sell their house for them, and instead are taking on the responsibility themselves. It seems simple enough, but For Sale By Owner is much more complicated under the surface. Most people don’t have a fundamental grasp on just exactly how much goes into selling a home. There’s the marketing and advertising, taking photographs, listing, showing, appraisal and inspection processes, negotiations, paperwork, etc. But regardless, there are plenty of people who do choose to sell their house ‘By Owner.’ Here are some of the reasons why, followed by some obstacles someone like this might run into on their FSBO journey:

They are the top expert when it comes to their home.

considerations when selling by owner

No one knows the history, layout, and personality and charm of a home better than the homeowner. They can use this knowledge to dazzle buyers, really selling the personal touches they may have added over the years. Buyers may feel that they can trust the homeowner, a person who has actually lived in the home, more than a real estate agent paid to represent them. 

BUT: A home has personal sentimental value to the homeowner, and they probably won’t be able to be objective. 

To that same effect however, is the fact that their home might be so special to them that they let their emotions take the place of logic. It might be difficult to price their  home based on factors that matter, such as size, location, comparables, when all they can think about are the priceless memories they shared in the home with their  family. 

They can trust in themselves.

Homeowners may find it hard to trust a real estate agent, especially if it’s the first one they are working with. They might wonder if they really have their best interests in mind, or if they’re just there to get a commission. 

BUT: Negotiating is messy.

Let’s face it, most people aren’t the best negotiators. Especially when they’re bound to have personal biases get in the way and emotional ties to the object they are trying to barter for. Also, not only do they have to negotiate with the buyer, but also the buyer’s agent, appraisers, inspectors, mortgage bankers, etc. It helps to have someone who’s on their side, backing they up when they need it most. 

They might just have what it takes to create the perfect strategy.

Some homeowners may have sales or marketing experience. If they do, they may have a leg up on other FSBOs. Real estate agents may be experts when it comes to the real estate market, but who knows who has some tricks up their sleeve of their own.

BUT: They may NOT be an expert at marketing their home.

Okay, so maybe not all homeowners have knowledge of marketing techniques. Or, they simply don’t know enough about real estate to use the skills they do have. After all, the real estate world is a completely different beast. Agents are highly trained in marketing and selling homes, so they’ll know exactly what works and what doesn’t.

They like being in control. 

They can choose the price, who comes in and out of their home, and who they want to sell to. There’s no one else chirping in their ear saying “do this!” “don’t do that!”. they have the power, and they can use it to personalize the process.

BUT: Selling a home by themselves will take up a ton of their time. 

While, yes FSBO gives homeowners a lot of freedom on how they choose to sell, with great freedom comes great responsibility. The stuff they’d usually just let their agent take care of (the marketing, document preparation, arranging and hosting tours, answering questions, negotiating, etc) is now on their plate. They have to factor this into their schedule and make time for buyers, otherwise selling their home will be a very drawn-out process, and likely cost them more in the long-term (in terms of not only money, but time)!

They don’t want to compromise on the price.

A real estate agent might push a homeowner to accept a lower offer in order to get their home sold quicker. Luckily, if they sell their home by owner, they can sell their  home at whatever price they choose, because there’s no pressure to take certain offers.

BUT: They likely have little to no sales experience.

They might have the marketing skills, but are they also a sales expert? Real estate agents know more than anyone how to help buyers buy and sellers sell. They are familiar with how the market operates, they have access to pricing data, the legal standards and loopholes, and most importantly: they know exactly how to make their  house sell, and sell fast!

They can take advantage of FSBO resources.

The ushering in of a new digital era means sellers can access resources for pretty much anything and everything at their fingertips. This, of course, includes tons of sites for FSBO. Websites like Craigslist, Facebook, Nextdoor, and more are all great places to advertise a home for sale. There are also sites specifically for listing FSBO properties, such as ForSaleByOwner.com, FSBO.com, and HomesByOwner.com

BUT: They’ll have a lack of access to qualified buyers, and they may even get some sketchy characters popping in.

Real estate agents are able to screen interested buyers so that they are only inviting serious potentials to view a house. This prevents sketchy characters from entering a home, who might simply be looking to case the place. 

They can leverage their digital network.

As we mentioned above, anyone can use their social media following and connections with friends and family to advertise their home and get the word out. They can easily ask people to share their posting with anyone who is looking to buy in the area.

BUT: Buyer’s agents may discourage buyers from looking at a home because it is FSBO.

Some FSBOs are disorganized, unprofessional, and quite simply the owner has no clue what they’re doing. This discourages agents from choosing these listings to show their clients, as they do not want to risk wasting the client’s time. 

They can pay a FSBO website to list their home on a multiple listing service (MLS). 

Homeowners don’t have to let their lack of a real estate license get in the way. Even though they personally may not have access to multiple listing services, there’s always a way to pay someone to list their  home for they. This will increase the listing’s visibility to agents.

BUT: They have to put up with a slower selling process.

Because they are probably inexperienced and are taking on the full-time responsibility of selling their  own home and all of the baggage that comes with it, they need to expect delays. Real estate agents are trained in the most effective, quick ways to get homes sold, and unfortunately they don’t come in already equipped with that knowledge. 

There’s no commission fee.

Probably the main reason people choose to sell by owner is that they are able to pocket the commission fee that would otherwise go to a realtor. According to Redfin, while they can negotiate a commission, “typically, real estate commission is 5%–6% of the home’s sale price. In most areas the buyer’s agent receives 2.5%–3% in commission and the seller’s agent receives 2.5%-3% in commission.” So if they are selling a home, they have to pay a commission to both their  agent and the buyer’s agent when their house closes.

BUT: …There’s also a chance of actually losing money.

They may be thinking, okay wow, maybe this FSBO thing is worth it if I don’t have to pay commission costs! But really, it’s not so black and white. Realtor.com says “statistics show that selling their  home with the assistance of a professional real estate agent will garner they a higher profit, enough to cover the commission as well as put more money in their  pocket.” And we can see the comparison in numbers gathered by the National Association of Realtor®’s 2016 Profile of Home Buyers and Sellers, which shows that the average FSBO sales price was $185,000, while the average price for a home represented by a real estate agent was $245,000. That’s a $60,000 difference!

Not to mention: Paperwork, paperwork, paperwork!

We’ve already mentioned the sunk cost of time, but did we really drive home the amount of legal paperwork that they’ll be responsible for? Not to mention, if they slip up and make a mistake, they might pay for it in the future — financially and legally. 

Is FSBO for you?

It’s a lot to take in but it’s important to know exactly what you’re getting into if you are considering doing FSBO. Phoenix real estate agent Steve Penate suggests, “If you are thinking about or planning on doing a for-sale-by-owner on the property you want to sell, I encourage you to find a real estate agent you can trust. Sit down with them, ask them hard questions. I guarantee that the whole process of selling your house will go so much smoother.” It doesn’t cost they anything to ask an agent questions, and if you do go the FSBO route, you’ll be empowered with even more knowledge than you came in with. 

Ricki Irwin
Ricki Irwin
00:06 24 May 19
This was so easy Casey was very helpful and kept in contact through the entire process thank you again for everything. Highly recommend this company.
Lela Leedham
Lela Leedham
03:08 22 Feb 19
Great experience working with Casey and Ryan. We would recommend them anytime. They are very knowledgeable and very professional.
Emily Binder
Emily Binder
21:16 18 Feb 19
Jennifer Gibbs
Jennifer Gibbs
19:58 18 Feb 19
A very impressive operation. Very professional and knowledgeable. They follow up when they say they will. Very helpful Team. If you're looking for a fast and fair cash offer on your home, these are the guys to call!
Mario Elizondo
Mario Elizondo
19:58 18 Feb 19
Very professional and a pleasure to work with.
Danny O'Bannon
Danny O'Bannon
19:53 18 Feb 19
I called 5 different companies from google trying to find a company that would pay the most for my rental and their offer was higher than the others. Extremely streamlined process. Easiest transaction I’ve done
Ross Greene
Ross Greene
18:04 17 Feb 19
Ryan & Casey were great to work with! Absolute pro's in the business. I would definitely recommend them. If only I could give them more than 5 stars. Hope to work with them again soon! Thanks guys!
Pam Dickerson
Pam Dickerson
23:53 15 Feb 19
Excellent customer service! Helped us through the entire process. Highly recommend!
steve Balsacker
steve Balsacker
19:35 14 Feb 19
Me and my wife had gone through a divorce and we wanted a quick way to get rid of our property so we could just move on with our lives, Thankfully Ryan came in and helped us out, I didn't have the time to deal with the headache of people coming in and out as well as all the repairs that were needed. He gave me top dollar for my home and I was out in 7 days!
jason almeida
jason almeida
16:52 14 Feb 19
We have seen their signs around town and thought it was a scam, we decided to give them a call and I couldn't have been happier with our experience. They were professional and knowledgable, they paid for all closing costs and even helped with our family move. Great guys and great company! Thanks again!
Peter Floratos
Peter Floratos
04:51 14 Feb 19
This team handles their business right. They are a pleasure to work with.
Tyler Hubbs
Tyler Hubbs
04:38 14 Feb 19
Ryan and Casey treated me with patience and respect during the whole transaction! Very trustworthy and explained each and every question I had!! I would highly recommend We Buy Any Vegas House!!
Dennis Ripley
Dennis Ripley
03:55 14 Feb 19
Very professional and very knowledgeable from start to finish. They went above and beyond to help me find what I was looking for. I would definitely recommend them.
Avraham Metal
Avraham Metal
01:58 14 Feb 19
As a Real Estate Agent I have sold properties to Casey and his Team. They are men of their word and have never let me down.
Dena Shapiro
Dena Shapiro
01:29 14 Feb 19
What an AWESOME experience!! Casey and Ryan are THE BOMB!! They either answer their phone ALWAYS or respond within minutes. They originally called to see if I wanted to sell but I wasn't interested in selling. However, my neighbor had to sell immediately so I referred them to her, she accepted their offer & they closed escrow within weeks. It would've been A LOT sooner but there were delaying issues on the seller side. Anyways, they got it closed & EVERYONE is happy!! Thank you so much Casey & Ryan :). YOU'RE THE BEST!!!
Ron Lorenzo Woods
Ron Lorenzo Woods
00:51 14 Feb 19
Great team with quick and professional service!
karina giraldo
karina giraldo
00:36 14 Feb 19
Knowledgeable, fair, and professional. I loved working with Casey. I did my research before selecting a company, and I’m so happy I went with them!
Cody Raynoha
Cody Raynoha
00:27 14 Feb 19
Casey runs a great company that's honest, easy to deal with, and is always fair. I'd absolutely work with him again!
Whitney Carter
Whitney Carter
21:42 08 Feb 19
Grateful to have worked with such a great company! Long story, short they really did help me through a tough time. No need to get into details, but this company really knows what they are doing. Thank you for all of your help with my home. Highly HIGHLY recommend!
Alan Giblin
Alan Giblin
23:01 07 Feb 19
I was shocked when I heard that We Buy Any Vegas House could sell my house so fast without any fees or charges at all. Thanks again guys!
Crosbey Proffitt
Crosbey Proffitt
22:48 07 Feb 19
I started off using a realtor thinking that I would be able to sell my home fast, but that wasn’t the case. I ended up reaching out to different companies and I ended up finding We Buy Any Vegas House. They were on it the second I reached out to them and were able to sell my home fast!
Investors
Investors
18:59 07 Feb 19
I have been in Real Estate for many years, it’s so refreshing to meet such professional, kind people to work with. We Buy Any Vegas House has great employees who are responsive and get things done quick. You can tell they have a true passion for what they do. If you are looking to work with a great team and you want to sell your house quick, I highly recommend this group!
Scott Henry
Scott Henry
18:53 07 Feb 19
We Buy Any Vegas House truly is one of the most reliable companies I have worked with. You can really tell that Casey and Ryan really care about what they do and really want to make you feel comfortable in the process. Thank you for all your guys help!
Ashlyn Mazur
Ashlyn Mazur
21:26 02 Nov 18
Most professional real estate company I've ever worked with! Would for sure recommend them!
Ashley Thompson
Ashley Thompson
18:59 02 Nov 18
I called 3 different companies and Casey was the most responsive. His offer was higher than the other ones as well. I really liked that they were a local company and everyone who helped me in the process was great to work with!
Katrine Baker
Katrine Baker
18:39 02 Nov 18
My mom and I had to move out of our house pretty quickly due to her martial differences. They were honest and extremely professional during the process and we are forever grateful to have worked with such a great company! Highly recommend!
Gregory Mitchell
Gregory Mitchell
00:26 01 Nov 18
Unfortunately, I never thought I would see myself having to get rid of my home, especially in a fast time frame. However, life happens, and I needed to sell my home quickly due to a death in the family. I reached out to 4 companies in Las Vegas, and We Buy Any Vegas House not only was the most efficient, but the friendliest, most reasonable, and compassionate. The other 3 companies did not even compare. Casey and Ryan have gone above and beyond to make sure that this worked for me. They truly care about you, which means a lot especially during a tough time. They put in the effort to care about the client first, as well as my family during this tough time. I am so grateful to have found them, and to top it off, they bought my house and put cash in my pocket in 7 days. Would recommend to all! Use this company, you can't go wrong! Thanks to Casey, Ryan and John!
Samantha Bonneville
Samantha Bonneville
00:23 01 Nov 18
We buy any houses is one of the most honest companies I have worked with. They are always upfront with issues of the houses, honest with fees And closings. We have not had a bad experience after 10+ Transactions
Alyssa Trent
Alyssa Trent
23:08 31 Oct 18
I worked with them to help my Mom sell her house and they were so amazing!! They explained to us exactly how everything worked step by step. I called them on a Monday and they got us cash by Thursday. Casey is such a genuine person.
Robert Johnson
Robert Johnson
22:10 31 Oct 18
After a tenant trashed my rental property, I was faced with the decision of remodeling or selling the property in its current state. I called Casey and he walked me through the entire process, start to finish. After factoring in the amount of time and money the remodel would take, it was clear that selling to them was the best decision for me. Within a week of my first contact with Casey and his team, we closed on the property and I had cash in hand. I'll definitely be reaching out to them in the future. THANKS!!!
Corey Trent
Corey Trent
02:33 31 Oct 18
I reached out to Casey and Ryan when I needed to sell my house. They were very professional and helped me through this tough time. They were able to buy my house and close fast. What a great team they are! I would recommend them to anyone. Thanks again!
John Washington
John Washington
02:24 31 Oct 18
As a very skeptical person I always believe that my best interest is not priority when dealing with people that want my business. I cannot name the countless times that I have been burned. After looking to sell my house for a cash offer, I was called by a lot of investors, most of which had very little customer service. Several didn't return call when they said they would and then when they finally called me back, they got anger when I decided not to use their Services. From day one Ryan not only treated me like is #1 customer but also treated my whole family like long time friends. I most also state that his offer wasn't even the highest. I took the lower off with him due to the fact that he help with crucial tax situations that I needed taken care before receiving them money so it wouldn't bit me in the butt later. He answered every call before and after the process was completed. 99% of others wouldn't have even answered a text once they got the money. Could I have made a couple of thousand dollars more with someone else? Sure, but the peace of mind in knowing that it was done the right way by someone who actually was professional and care was more than worth it. Ryan has made a customer and friend for life.
Green Girl
Green Girl
00:00 31 Oct 18
I was in a really tough spot because my Husband was in the Hospital and had passed away. I was completely unready for this and had discovered that there would be considerable expenses!  I had received several letters from companies interested in the property on an "as is" basis.  Most had never got back to me after I called them or were too low of offers.  I put an inquiry in their website and was immediately contacted by the Owner who was able to come the very next day!  The entire process was easy and professional.  Thank you We Buy Any Vegas House!
Mike
Mike
23:37 30 Oct 18
Casey and Ryan were so helpful! I was was a week from being Foreclosed and they were able to get me cash in my account in 5 days! And even let me rent back until I was able to find a new home!
Karl Workman
Karl Workman
21:03 30 Oct 18
This company was not only the most professional real estate company i've dealt with, but they're the most reliable and respond quicker than most companies i've ever dealt with. They were fast, professional, and knowledgable in all aspects of our deal. Would and plan to recommend them to all of my friends and family! 10/10.
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