Many homeowners think they can sell their home themselves without an agent and that it is easy.  The main reason they do this is to prevent having to pay a commission. But in the end, are they really saving anything and is it really that easy?  Even in a good economy when there are plentiful buyers selling by owner is not easy but in these tough financial times it is most difficult.

A FSBO (for sale by owner) will always need to be there for all of the showings. This is because they have to be there to let prospective buyers in. They are letting strangers roam through their house and they have no way to screen potential buyers.  This means that they have to be available all of the time, even if it is a last minute notice. If they aren't available, are at work, or on vacation they miss a buyer.

Buyers are reluctant to see these homes without agent representation because the owners always want to guide them through the home, giving them every detail and this makes buyers nervous. Also, buyers like to have a representative to ask questions to and get a different perspective.

FSBOs often overprice their house at least a little because they do not have the up-to-date information on sales, the history of the neighborhood or the current market. They generally price based on what they need or want to get for their home.

Many buyers are relocated by their companies or move to Salt Lake City Utah from another area. This means they have a buyer’s agent that is looking at listed homes, and not FSBOs. These buyers do not have the time or desire to look for unlisted homes when there are so many listed ones available especially in this economic market. FSBOs are missing out on this entire group of buyers.

Real estate professionals will probably not show these homes because the sellers are not willing to pay a commission. Even if they do agree to pay one, realtors know that they will end up doing almost all of the work since there isn't another agent involved and the owner is not versed in the real estate transaction process.  

To learn how to avoid becoming a FSBO, contact Salt Lake City Utah real estate expert Kathy Opolski at 801-518-4599.

There is a lot of free information available about buying, selling or investing in Holladay and Salt Lake City, Utah real estate.  For complete information about the Salt Lake City, UT real estate market including homes for sale, property values and more, visit the most comprehensive website dedicated to everything Salt Lake City real estate.

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If you or someone you know are in need of a competent and caring real estate professional in or near Salt Lake City, Utah, I will be happy to help, just call me at 801-518-4599.

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