FSBO

 

Something else you might encounter in your home-buying journey is what we call a FSBO. That's F-S-B-O, and it stands for For Sale By Owner. The reason you need to be careful of FSBOs is ... Well, there's a few factors involved. First of all, the reasons someone would choose to try to sell their house by themselves are many, and typically it has to do with saving money. Sometimes a buyer will think that they can get a better price on that house, and you can't both save the same money, so that's not realistic on either side.

For Sale By Owners tend not to be realistic in general. They often are trying to price their house too high and perhaps they couldn't get a realtor to list it at the price that they want to list it at, they didn't want to do the things that a realtor told them were necessary in order to sell their house, and they may just not want to deal with having to follow the rules and the laws. So there's a lot to be careful of.

If you're driving and you see a For Sale By Owner, we can absolutely, we have tons of experience working with them. We are sometimes able to make a successful sale with a For Sale By Owner, so it can happen. We don't want you to to cross it off your list completely, just make sure that you take a picture of that sign and send it to your agent so they can reach out to that FSBO and see how realistic they're going to be, see whether they'll work with a buyers agent. If they don't, if they just want to do everything themselves, then that's really a red flag. Most will, most just don't want to pay a listing agent. Unfortunately it doesn't usually work out to their advantage, but that's their choice.

But what we want to be careful of is that they're going to follow the law, that they're going to do what's expected of them, and that everybody will be able to get to the closing table. We will get answers to all of those questions, and then we can see if we can schedule an appointment and show you the house. So just do that, make sure you send us a picture of the sign or text us the number and we will follow up.