Selling your home in Orlando, Fl, can be a tricky endeavor without a real estate agent, especially if it’s your first time in the market. However, For Sale By Owner (FBSO) remains a fairly common practice in the Sunshine state as many residents take the DIY route to sell their properties to make more money or avoid high agent fees. So, if you’re asking yourself, “Am I Making the Right Decision By Choosing to Sell My House Without An Agent?” the answer is – it depends.
It depends on how you feel after assessing the pros and cons of For Sale By Owner in Florida, which we’ll share in this post so, keep reading to find out!
Pros and Cons of For Sale By Owner in Florida
Pros
1. More Money from the Sale
When you opt for the DIY route, you don’t have to pay the agent fees, which is usually a percentage of the sale price and can easily be tens of thousands of dollars. So, no matter how much you sell your property for, you get to keep all the money. And this is the biggest reason people attempt to sell their homes on their own.
2. Complete Control
When you do things yourself, you’re in full control of the marketing, sales, and negotiation process. Therefore, you don’t have to worry about anyone’s opinions in any aspect of the sale. Of course, this can easily backfire. However, if you have experience in sales and marketing, you can use this to your advantage. Or, if your property is located in a seller’s market or in-demand neighborhood, you can attract more potential buyers without professional intervention.
3. Better Communication with Clients
Many realtors get straight down to business without taking the time to learn more about their clients and their homes. Therefore, they may not be able to give potential buyers every detail since they have neither lived on the property nor assessed it properly. Therefore, as a homeowner, you can establish better communication with buyers and highlight the perks of your home and neighborhood.
Cons
1. Little or No Profit
According to the National Association of Realtors, over 90% of FSBOs in the state fail and end up hiring a Florida realtor. Those who successfully sell their properties on their own often end up with little or no profit due to the lack of market knowledge or negotiation skills.
2. Marketing is Difficult
Hiring an agent not only improves your chances of selling your property but also getting the best possible value for it. They’re highly trained professionals who have established networks of buyers, sellers, and other agents in the vicinity. So, they can employ several channels to advertise your property and reel in potential buyers from an oversaturated market flooded with thousands of unsold properties.
3. Buyer Assessment
Even if you find potential buyers on your own, how can you make sure they’re qualified to purchase your property. Hundreds of sellers have been burned by buyers simply because they don’t understand the difference between being pre-approved for a mortgage and pre-qualified for one.
4. Safety
By taking the DIY route, you’re willingly inviting strangers into your home and putting yourself at risk of theft and injuries. When you hire a Florida or Orlando real estate, you’re hiring a professional service that is accountable for the safety of clients from both parties.
Looking for an Experienced Florida Realtor?
To sum up, selling your property in Florida is a major transaction that requires a fair bit of expertise and experience in the market. For Sale By Owner (FSBO) is not a walk in the park, no matter how much free time you have. An established Florida real estate agent can simplify the process for a small price and take care of everything from advertising to showings, negotiations, and paperwork.
If you’re looking to sell your property in the Winter Garden, Windermere, Ocoee, Clermont, and other neighborhoods in Orlando, Fl, visit Megan Dowdy Realty to get in touch with an experienced Orlando realtor or call 407-509-9279.
