For Sale by Owner: 4 Myths that Have You Leaving Money on the Table

Selling a home seems easy, right? You head down to your nearest Dollar Store, purchase a For Sale sign, add your phone number, and stick it on your front lawn. Then, snap a few iPhone photos to post on Zillow. Now you sit back and wait for the offers to roll in. 

You may have sold your home this way in the past, or you may consider the for sale by owner (FSBO) route in this seller’s market. However, you can leave thousands of dollars on the table when you sell your home without an expert Realtor to guide your transaction. 

Here are 4 FSBO myths that will keep you from receiving the highest return on your home sale… 

Myth 1: It’s Easy To Do

Selling your home is more than taking cell phone pictures and putting the listing on one site online. The truth is that it can take up a significant amount of your time because you have to take on all the behind-the-scenes responsibilities that Realtors usually take care of. 

For example, marketing your home well with high-quality photos and videos can’t be achieved on your cell phone, and video editing can take hours of your time. Because pictures and videos can make or break the sale of your home, we work with professional vendors that highlight your home’s good side, and you don’t have to spend any of your time learning how to edit photos.  

Selling your home also comes with the potential for challenges and unwelcome surprises. Suppose you haven’t dealt with issues like multiple offers, negotiating terms, potential inspection issues, or an appraisal curveball. In that case, you may scramble to find a solution that may cost you thousands of dollars and hours of your time. Cha-ching!

Based on our years of experience, we can help you anticipate any challenges a home sale may face and guide you through all available options. Having an experienced Realtor by your side saves your sanity and money. 

Myth 2: Saves Money 

Speaking of saving money, this is the number one myth people believe about FSBO transactions. “If I don’t work with a Realtor, I don’t have to pay commissions.”

Although you may feel like you’re saving on commissions and fees, think of it this way, “If I don’t work with a Realtor, I’m missing out on thousands of dollars.” 

Working with an agent means that they are pricing your home correctly, marketing your home exceptionally, and getting you multiple offers. Multiple offers result in you making more money, even with the commission. When you pay the commission, you invest in a professional whose goal is to work in your best interest to get you the highest ROI. That’s an investment that will pay off every time. 

Another scenario to consider is that a realtor may bring in a client to see the home and then ask for commission on their side of the transaction. There go your savings! And if you try to sidestep this issue and decide to work with people who aren’t working with a realtor, you shrink your pool of buyers significantly, and your home sits on the market longer. 

Myth 3: It’s a Seller’s Market, So It Will Sell Fast 

Although it’s a seller’s market, we’ve seen plenty of FSBO homes sit stagnant on the market for weeks. But why? You’ve heard stories about tons of offers on a home and crazy bidding wars, so why aren’t these houses being snagged up?

Your FSBO price is based on your best guess or based on the amount of profit you’d like to see. Either way, these approaches won’t set you up for a multiple offer scenario, and that’s why your home will sit on the market. As Yakima Realtors, we stay up to date on the Yakima housing market, so we price your house competitively.

It’s also all about marketing and visibility. The red and white For Sale sign with your phone number scribbled across the front isn’t enticing anyone. Yup, we said it! 

An agent’s marketing is essential to selling your home at the highest-selling point possible. We create eye-catching graphics, market on multiple platforms online, and all marketing materials are exceptional.  

Bonus: We also have an extensive database of potential buyers to help you sell quickly. 

Myth 4: All Realtors Are The Same

You may have worked with a real estate agent that left a bad taste in your mouth, and you’ve sworn never to use a Realtor again. Each realtor has their own philosophy, work ethic, and style. Just like any profession, there are good eggs and bad eggs. This means that some agents aren’t very good at their job or don’t care to go above and beyond for their clients. 

The good news is that not all real estate agents are the same. (Read 5 reasons why we’re not like your last Realtor.) However, when you have a great experience with an agent who provides value and prioritizes your listing, the choice is easy.  

We Can Help!

Are you selling your home soon? We’d love to meet with you to check out your house and talk about strategically listing it for a competitive price to get you the highest return possible. 

Please don’t hesitate to call, text, or email us. 

Until next time,

Mal & Joel