Despite there being many benefits of a for sale by owner ("FSBO") real estate transaction, there are nemerous drawbacks as well. While you may think that selling your home by yourself is all fun and games, there are times when things can get tough on you. If you know what the FSBO drawbacks are, you can better deal with them in the future. Many owners who choose to sell their house without an agent believe that it is all fun and no drawbacks. This is simply not the case.
The biggest drawback of a FSBO is that you will not have a professional by your side, so you have no one to consult if things deviate from the plan. Agents know what the market can handle, what people are looking for, and how to price your home. This is something that you will have to figure out on your own if you are going to sell your home without an agent. While you can do this, it is a time consuming process that a lot of people may not be able to afford.
Another drawback of a for sale by owner transaction is that you will have to handle all of the walkthroughs and open houses on your own. And not only will you have to show people the home, but you will also be responsible for marketing it so that people show up. While this may sound easy in theory, it can be a difficult in practice
Finally, you will have to complete all of the negotiating on your own. This may be fun for you, but other people feel that this is the biggest FSBO drawback. If you do not like to play “hard ball” and fight for what you think your home is worth, you may want to simply hire an agent. They are skilled at the art of negotiating, and can help you to get the best price possible.
Overall, there are some for sale by owner drawbacks that you should be aware of. The more that you know about these drawbacks, the better off you will be when deciding whether or not to sell without an agent.