As the housing market continues to struggle, some sellers decide to try to sell their homes on their own without the professional guidance of a Realtor. Although eliminating the cost of a Realtor might seem appealing, selling a home on your own can create several difficulties. If you're weighing the options, see Selling Homes Without a Realtor: Pros and Cons for a closer look at common trade-offs.
Five reasons to reconsider a FSBO transaction
Use of MLS: FSBOs are generally not allowed to list their property in the multiple listing service because the MLS only accepts listings from licensed real estate agents and brokers. Newspaper ads and a front-yard sign usually produce far less exposure than an MLS listing.
Realistic asking price: FSBO sellers often overprice their homes. Homeowners commonly have a strong emotional attachment to their property, which can lead to asking prices above market value and slow the sales process. A real estate agent runs comparable-sales reports and recommends a competitive, realistic price.
Freedom to communicate: Prospective buyers may feel intimidated dealing directly with an owner. Buyers typically feel more comfortable asking a neutral agent about a home's strengths and weaknesses, which can increase the likelihood of offers.
Security during the sales process: Homeowners hosting public open houses may not know whether every visitor is a qualified buyer or a potential threat. An agent can pre-qualify visitors and usually accompanies them during showings.
Avoidance of legal troubles: Real estate transactions involve required forms and disclosures. Missing a required document or disclosure can lead to post-closing claims. A licensed agent has experience with the necessary paperwork and disclosures, which can reduce risk.
When all is said and done, selling a home is often more complicated than it appears. A licensed real estate agent provides value and service on many levels and brings professional experience to the sales process. For related topics, see Motorcycle Sales Insurance and Forklift Sales Insurance. For more ideas about selling online and managing listings, see Online Selling and Business Strategies. If you want personalized help, you can talk to an agent.
Frequently Asked Questions
Can I list my home on the MLS if I sell it myself?
Generally no — most MLS systems accept listings only from licensed agents or brokers, though some flat-fee MLS services exist to help sellers gain exposure.
How does a Realtor set a realistic asking price?
Agents analyze recent comparable sales, current market conditions, and property features to recommend a competitive price rather than relying on emotional attachment.
What steps can I take to keep my home secure during showings?
Limit access by qualifying buyers, accompany visitors, secure valuables, and consider scheduling showings through a professional agent to reduce risk.
Do I still need to disclose problems with my property if I sell it myself?
Yes — sellers are required to disclose known material defects under state law, and working with an agent can help ensure required disclosures are completed.