- January 24, 2022
- Posted by: Saman Saba
- Category: FSBO
Why It’s Better to Sell a Property as ‘For Sale By Owner’ Than to List with a REALTOR®
If you’re hoping to sell your house in Maryland, there are plenty of options when it comes to choosing a REALTOR®. Alternatively, you can sell as a for sale by owner and skip the hassle of hiring someone to do it for you. However, selling a home as a For Sale By Owner can be quite a daunting task. As such, it would be beneficial if you already have an existing sales background or if you already have a buyer or two lined up with a reasonable price on the line. However, even though this not always the case, selling as a FSBO should still be explored for several reasons. In fact, there are several legitimate reasons why many have been using this method for years now. Here’s a brief rundown on it:
Reason #1 – Prioritize Fees By Hiring An Attorney Instead
Most home sellers are advised to get a real estate agent. Although an agent is experienced enough that they should be able to get your home sold, they are not attorneys and as such, they can not provide the peace of mind in making sure that you have all your t’s crossed and i’s dotted. Instead, a real estate agent’s objective is to sell your home, sometimes with little regard to the law.
And as a result, when a transaction has been closed, and the homebuyer finds themselves in a position where they haven’t been disclosed of any issues regarding the property, this can then lead to legal action. It’s best to save yourself from trouble and prioritize where you use your cash – on an attorney from the start who can ensure your legal liabilities are reduced.
Hiring a real estate attorney instead oF a REALTOR® can be the best option as the legal advice you receive will help you steer clear of any misinformation that can result in a possible litigation.
Decrease The Closing Costs
When you’re selling your home and closing a transaction with a real estate agent, you will be responsible for paying both the listing agent and the buyers agent. It can vary for many cases, but the baseline fee for those in real estate is somewhere between 5-6%, depending on the market trends in your neighborhood.
However, if you opt for FSBO and don’t have a real estate agent, it usually means that the price that you sold it for will be yours for 100% as you do no have to pay those hefty real estate agent commissions. Or, likely, you will only need to pay a commission to the buyers agent. As a result, you will receive more money at the settlement table.
Control the Transaction
The main reason why FSBO is good is that you have full control over how the property gets sold. There’s no need to answer to anyone as you are free to market the property as much or as little as you desire.
Some people may fear having this much control. But keep in mind: being able to steer the direction of the marketing and transaction with the client can give you the peace of mind knowing that everything is being done the way that you want it.
FSBO may not be for everyone but before you quickly hire an agent, try to consider the reasons behind selling as a FSBO in Maryland, no matter how unconventional it can seem. The perks can be truly surprising for property sellers everywhere.
How Can We Help You?
If you are interested in selling as a For Sale By Owner, you’re in the right place.Get the legal assistance you need to sell your FSBO property. Saman Saba is a real estate attorney in Maryland working to empower real estate sellers and buyers so that they may make better and more informed decisions regarding one of their most important assets: their residential properties.
In an effort to help you successfully sell your property as a For Sale By Owner, we have prepared a FREE FSBO Success Packet which includes:
- An in depth explanation of our flat-fee pricing model and exactly which services are included.
- A complimentary copy of Saman’s bestselling book, Sell Your Home With Confidence: Reduce Your Liability When Selling, FSBO EDITION which goes into depth regarding what steps a FSBO seller should take when selling their property.
- A complimentary viewing of a 30-minute Masterclass entitled, Home Equity Protection: How To Not Be Bamboozled When Selling which highlights the main ways that home sellers can leave thousands of dollars on the table when selling.
- And so much more!
Ready to get started? Click here to schedule a complimentary consultation.