Experienced sellers of real property and many real estate investors know to hire a realtor to protect their interests and help them through the process. Unlike these sellers, I had to be stubborn and learned the hard way. I was not going to hire a realtor and just knew I would save a bus load of money. They can’t do anything I can’t do on my own, I reasoned. 

 I was dead wrong! Let me back up to the beginning.

The people next door were getting a divorce and wanted to get out of their house quickly so I bought it. First it was going to be used as an office, then family members came, then I got tired of having two mortgages and cutting two lawns. Time to sell. 

Like a lot of people, I went to the hardware store and bought a red and white sign. That would be my first loss of money. Unless you’re on a main thoroughfare which I’m not, very few will see it and those who do are more than likely not your target market. 

Next, I put an ad in the newspaper. I don’t remember exactly how much it was, but it wasn’t free like a garage sale ad. I think it may have been $150, but it could have been closer to $300 – not sure on that, but it was just like having a garage sale 24 hours a day! The sign said “For Sale” with my phone number. You would think it said “come peek in my window at all hours anytime you like!” or “come into the backyard and take a look in my shed”. It was absurd. 

The main reason sellers, including myself, consider selling their home For Sale by Owner (FSBO), is to save money and get the highest net profit. However, selling a piece of property is not quite as simple a task as they make it out on the television commercials. “Thanks Buy Owner!” they say. It can be a complicated, confusing, and time-consuming venture filled with legal, personal, and financial concerns. Before you know it, you’re spending money you hadn’t anticipated that you would have never spent had you hired a professional realtor in the first place. 

The FSBO companies tell you not to pay a realtor commission and to use them to show your property.
Some guy who just lost his job at the used car lot will come to your house, whip out a notebook, and show you the advertising packages they have available. The cheap package puts your house on a website with hundreds of other houses no one will ever see. The expensive package will feature your house in their glossy magazine that is available everywhere. The secret is, the magazine is available NOWHERE to be found. And you’re paying upfront, whereas with a realtor you never have to write a check. 

Realtors enter your property into a Multiple Listing Service (MLS) where thousands of other realtors will have access to for their buyers. They also run ads, print fliers, deal with inquiries, signage, contacts, inspectors, appraisers, and everything else. 

In conclusion, I learned my lesson. Let a professional realtor handle my real estate transactions which is what I ultimately did. It’s too much extra work and the money you think you will save will be eaten up in unforeseen expenses.