FSBO property listings are one option for homeowners in Kansas City. “Let’s sell it ourselves and save all of those real estate agent commission fees for ourselves!” Sounds great, right? When it comes to FSBO listings for sale by owner, going it alone isn’t always the right move. The process of selling a home is much harder than it would appear. A 90 percent failure rate for FSBOs trying to sell their own home should give you pause, especially with such an important decision.
When you’re ready to select the method you’ll use to sell your home, which is likely one of your most significant financial assets, it’s essential to have realistic expectations. We will explore five things you should know about Kansas City FSBO property listings.
Time and Toil
Selling your Kansas City home FSBO takes a lot of time and effort. Agents make a pretty good income and for many people they feel that this is unfair and undeserved. For some agents, they do little more than take photos on their phone and throw it on the MLS. For those agents, I agree that you’re not getting much for your money. For others however, their years of experience in local markets, negotiations, and connections serve to get you a lot more money. Those agents put in a lot of work and if you go FSBO, you should be prepared to replace all of that work yourself. From scheduling appointments with professionals, such as inspectors and appraisers, through open houses and showing the property over and over, you may come to understand why real estate agents earn such high fees for their services.
You should also know that Kansas City FSBO property listings tend to sell for less than if you had worked with an agent. Agents are on top of their game and understand how important it is to screen potential buyers and market the home properly. Agents are professional negotiators. Because they aren’t emotionally invested in the property and the financial outcomes (to a large degree) they can approach these negotiations more rationally. While your actual advertising efforts are critical in the results, so too is how the home presents during the showing.
Repairs are not something you can escape with Kansas City FSBO property listings. While you may not be aware of disclosure laws, learning this lesson the hard way could land you in legal hot water. Even if you don’t make the repairs, the buyers are likely to counteroffer with extravagant discounts from your asking price for doing the work themselves.
Legalities and Paperwork
Paperwork. Quite often, sellers decide to work with a professional because the thought of doing all of the paperwork is overwhelming. Homeowners with Kansas City FSBO property listings take on a huge responsibility in making sure every contract and form submitted is legit. Failure on this front could mean a deal falls through and will cost you even more. Additionally, if things are not done in a legal way, you can end up in court for violating any variety of contract and real estate laws.
You should also know about holding costs and how they can eat away at the profits of Kansas City FSBO property listings. Sadly, not having realistic expectations about what it takes in today’s market to sell a home could leave the property lingering on the market. you’ll be left with the mortgage payment and all other expenses to keep the property in saleable condition. Even an agent cannot tell you an exact closing date when listing a property on the Kansas City market.
The most important thing you should know about Kansas City FSBO property listings is that there is another option. Selling directly to Fair Home Offer KC is 100 percent successful for sellers. When you work with Fair Home Offer KC to sell your home, you still get to save the commissions for yourself! Fair Home Offer KC pays cash so that the closing can be in a matter of days.
We will go over all of the details of your property and any extenuating circumstances that may be pushing you to sell, helping you determine how much you would profit with a traditional home sale or a direct sale to Fair Home Offer KC. At Fair Home Offer KC, our goal is to help you make the most profit on your most important investment, your home. Feel free to ask Fair Home Offer KC any questions you may have with no obligations. Send us a message or call Fair Home Offer KC at 816-800-9238.