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FSBO - For Sale By Owner Advice | Virginia Real Estate

Often, people believe they can sell real estate themselves; FSBO. With real estate selling rather quickly and prices increasing, you may think it is a good idea too. However, real estate studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. There are several reasons for this but the bottom line is selling your property on your own just might not make sense.

No doubt, some people are able to sell property on their own but they don't always get the best price nor do they always adequately protect themselves from potential legal issues associated with real estate transactions.

Before you decide to go FSBO, consider sitting down with one of our real estate agents and see what they have to offer. It costs you nothing. You may be surprised at how much is involved with selling real estate and how a qualified agent can help you maximize your return on investment.

Why You Shouldn't For Sale By Owner

  • There are too many people to negotiate with to close the deal: buyer's agent (working for the buyer not you), home inspection companies (working for the buyer as well), the appraiser (if any issues with value arise), buyer's attorney (many buyers work with an attorney when dealing with a FSBO property).

  • Exposure to prospective purchasers: it is no surprise that most potential buyers are looking for real estate online and if you don't have a comprehensive online marketing strategy you'll lose buyers to sophisticated agents that do. Also, real estate agents network with dozens of other agents that can help promote your property to "qualified" prospective buyers.

  • Results come from the internet: a yard sign, newspaper ad, and paying a fee to be included on the MLS doesn't cut it anymore. Real estate companies now dominate online searches and that's just one reason fewer and fewer people sell their own properties in today's market. Networking and marketing on multiple platforms are key to finding the right buyers for your property.

  • FSBOing has become more and more difficult: the amount of paperwork, industry disclosures, and regulations are more extensive than ever. The time required to educate yourself is significant, not to mention the time involved with marketing, showing, qualifying, and negotiating with potential buyers. 

  • You net more money when using an agent: the commission you save as a FSBO seller may not be as much as you think. First, add up your marketing costs and the value of your time spent researching, preparing your marketing materials, listing, showing, qualifying, negotiating, and closing the deal; they are real costs. Then, realize upfront that most buyers targeting FSBO properties expect and want a discount. The buyer and the seller can't both pocket the commission savings.

Please contact us if you would like to discuss what we can do to sell your property. We have an extensive marketing program, industry connections, contracts that protect you, and extensive experience with the pricing and negotiation process. We know how to stay focused and close deals.

Our agents are well versed in all areas of real estate: residential, commercial and industrial. We'll be glad to provide you with the information you need to make an informed real estate decision. And, we are just a call away; Hardesty Homes: 804-651-2157.