5 Reasons FSBO Should be a "No"
Louisiana Realtors • January 31, 2019
We have the ability and the resources to do a lot of things that may have been out of our comfort zone a few years ago. Videos on YouTube give you step-by-step instructions on everything from changing your oil to cooking to playing an instrument. However, no matter how ambitious you may be, or how clear the instructions are, there are still some things that are better left to the professionals. Obviously the more complex the endeavor, the more risk it brings. One thing you never want to risk is your home; this why opting to sell it yourself can often be a mistake. So, before you place that “For Sale by Owner” sign in your front yard, here are a few reasons to reconsider and trust this process to knowledgeable, professional REALTOR®.
Buyers Prefer Not to Interact the Homeowner
Home shoppers can be uncomfortable when dealing directly with a homeowner. It makes them feel as if they can’t speak their mind and voice opinions, restricting their home buying experience. This self-consciousness could lead to many prospects declining to make an offer.
Lack of Access to the MLS (Multiple Listing Service)
Most home buyers use the services of a REALTOR®, and REALTORS® have access to the multiple listing service, more commonly referred to as MLS When you sell your home yourself, as a non-agent, you won’t have access to this database; meaning it will be difficult to be found. This greatly reduces the number of eyes and opportunity to sell it.
Paperwork
Real estate transactions are complex, complicated business deals. From the initial offer to the closing table there are immense legalities and obligations. If you are unfamiliar with the process and terminology, this could cause signification issues.
Pricing & Negotiation
Knowlegeable and professional REALTORS® have experience in negotiating on their clients’ behalf, as well appropriately pricing homes. Several variables are considered when determining the right asking price, and this is one of the most important decisions in selling a home. Oftentimes when homeowners attempt to sell their home themselves, they get caught up in personal and emotional connections that can interfere with their judgement and decision making when it comes to the transaction.
Perception of Value
Homes that are for sale by an unrepresented seller, on average, sell for 33% less and spend more time on the market than homes that sold by a REALTOR®. There is a perception that these homes are “on sale”, not “for sale”.
If you are considering selling your home, it is important to trust the knowledge, experience, professionalism, and expertise of a REALTOR®.
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple announced today that the Louisiana Department of Insurance (LDI) continues its work to develop a regulation creating benchmark discounts for Fortified roofs in Louisiana. The LDI is working with the National Association of Insurance Commissioners (NAIC) to develop the benchmark discounts using Louisiana-specific data, hurricane modeling and actuarial considerations. “With over 11,000 Fortified roofs in Louisiana and two years-worth of insurer experience with rating for those roofs in our state, now is an appropriate time for the LDI to establish benchmark discounts for homeowners insurance companies operating in our market,” said Commissioner Temple. “These benchmarks are being thoughtfully developed to help consumers receive the discounts they deserve for fortifying their homes while making sure insurers know the benchmarks reflect how much Fortified roofs actually mitigate their exposure to risk across Louisiana.” Like in Alabama’s Fortified benchmark discount structure, the LDI regulation would require Louisiana insurance companies to either meet the minimum benchmark discount established by the LDI or provide actuarial justification for why the company’s discount does not meet the benchmark. Louisiana is the fastest growing state for Fortified roofs in America. To date, over 11,000 Fortified roofs have been installed in Louisiana, including over 4,100 through the Louisiana Fortify Homes Program.
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