A “For Sale by Owner” is a homeowner, who decides to sell their property without a real estate professional. There are some downfalls to this approach for a homeowner, which may include limited advertising and lack of knowledge in the real estate field.
A homeowner can advertise in newspapers, online, and host an open house. A real estate professional can offer the same and give your property exposure to their real estate network, in addition to other services. Realtors have access to the Multiple Listing Service also known as MLS. This system allows other realtors throughout the area to pull up properties for sale, in an area their buyer may be interested in looking. This opens up maximum exposure for the homeowner.
Lack of knowledge in the real estate field can cause a home to be over priced in a competitive market. In turn, an overpriced home can sit on the market for months. A real estate professional has expertise in the local real estate market. They are able to provide efficient market analysis to price the home according to the market. This can eliminate costs and unwanted time for the homeowner.
Limited advertising and lack of knowledge in the real estate field are only a few downsides to selling a home without a real estate professional. Hiring a real estate professional can maximize property exposure, reduce unwanted costs, and eliminate unnecessary time on the market.