Home sellers naturally want to make as much as they can from the sale of their home. This is the main reason why most home sellers try to avoid paying a real estate agent.
However, there are some drawbacks (or Cons) to selling a home as For Sale By Owner (FSBO) without the help of an agent.
If you want to sell your home by yourself in Costa Rica, make sure you know the drawbacks as well as the benefits to FSBO process before you take the leap.
It is understandable why home sellers want to “cut-out-the-middle-man”, real estate agents do make a lot of money. We, Gap Real Estate, just want you to be aware that selling a home for sale by owner is a lot harder than you think!
The “Pros” to Selling Your Property by Yourself
As a home seller, you may make more money from the sale of your home doing it alone. It can be done but, statistics have shown that many people fail to try to sell their home and end up using an experienced real estate agent in Costa Rica.
You have complete control over the sales process. The only drawback to this is that you may be losing the valuable counseling and expertise of a potential professional.
You can devote your full attention to the sale of your home as a For Sale By Owner. This is only an advantage if you truly have the time to do it. If you work during the day or evening when potential buyers want to see the home, and you’re not available, it’s going to be very difficult to make the sale.
The “Cons” to Selling Your Property by Yourself
An established and respected real estate agent knows how to market your property. They know how to price your property to attract the right buyers and to negotiate based on the hard facts about your home. If you don’t have the experience to do that, you should let a company like Gap Real Estate assist you with marketing and promotion of your property.
Marketing by yourself, at home, can be very difficult.
It is easy to list your property online, it doesn’t take much effort. But, everyone else can do the same too. A seasoned real estate agent that creates a marketing plan for you, ensures that your property is noticed when listed. He/She will find buyers that are a good fit for what you have to offer. And, yes, a real estate agent will also list your property online. But, an agent will also know how to spread the “good word” about your property across a network of agents. That is a big difference between FSBO and using a real estate agent.
Here is a quick list of additional facts that make FSBO difficult:
- Selling a property is hard work
- FSBO network sites aren’t that effective
- A home seller can not replace a skilled real estate agent
- You will need “qualify” a potential home buyer. Do you know what that means?
- You may need to appraise your home or find someone to do it.
Here are the top reasons why selling your property by yourself usually fails:
- The list price of the home was wrong from the start.
- Not making the home accessible when the buyer’s schedule dictates.
- The home was not prepared properly to sell. This can include fixing items that should have been repaired as well as knowing how to stage a home properly.
- The home was not marketed properly including presentation, photography and internet exposure.
- Not knowing how to properly qualify a buyer to ensure they can get a mortgage.
- Not knowing how to negotiate home inspection repair requests.
- Being stubborn enough not to offer a buyers agent a commission if they bring a buyer.
As you can see, there is a lot that goes into selling a property. If you want to sell your property in Costa Rica, contact us today, we will be glad to sell your home!