FSBO: For Sale By Owner. This means that the seller is not listing their abode with a real estate agent. However, this does not mean that you the buyer should not be represented by a licensed professional. Here is why you need an agent when buying a FSBO.
Reason #1 that you need an agent for a FSBO:
Do you have the time to run your entire transaction and make sure you’re protected? Since you’re not buying houses every day, there are many things home buyers overlook. Having an experienced pro on your side, that has your best interests in mind, can keep you from overlooking potentially HUGE problems.
We’ve seen too many clients get wrapped up into the cuteness factor or sticker price that they forget this is likely their largest investment ever. Your real estate agent knows the red flags and can tell you when something is “off.”
Reason #2 that, even for a FSBO, you need an agent:
This goes back to having your best interests at heart. Let’s say something comes up with the foundation. But, Mr. & Mrs. Seller tell you “oh it’s no big deal… we had that fixed.” Do you take their word for it? (Because let me tell you, many people do.) Or do you try to get down to the real, underlying issue?
When you hire a really good real estate agent, they should be one step ahead of you and already have called their favorite foundation contractor – whom they likely have on speed dial.
Reason #3 to quit stalling and call an agent to protect you during a FSBO:
We know the other professionals. Like the example above, we have a slew of contractors, roofers, foundation experts, insurance reps, etc that we work with day in and day out. We can call on these people to help us out in a jam for a quick quote or repair estimate.
Unless you’ve got hours to call around and try to schedule a roofing inspection – leave it to a pro to get this job done.
Reason #4 to get an agent for a FSBO:
ALL. THE. PAPERWORK.
Y’all. Real estate contracts are no joke and they are set up to protect or fail you. Without having the years of skillful contract writing under your belt, you might be setting yourself up for dire consequences. A real estate contract is legally binding. You don’t want to be sued because you decided to roll the dice with hundreds of thousands of dollars.
There are tons of other factors: appliances, closing date, financing contingencies, hurricane clauses – and the list goes one.
Importantly, if you need closing cost assistance, how do you write it into a contract and not let any of it get wasted?
These are some of the HUGE reasons why you need a Realtor®.
Reason #5 to quit being silly & call and agent immediately for a FSBO:
How do you even know what the “value” on the house is? And if you say Zillow, then I need you to GTFO right now!
Zillow does not know what your house is worth. It’s like me deciding I’m a detective after watching some CSI.
You want to make sure you’re not overpaying for this new home. Your awesome real estate agent can look at all the comps and determine what you should offer.
Here’s the real question? Why haven’t you call a real estate agent yet?
Are you worried about paying for one? Typically, the agent negotiates with the seller to pay their professional fee. If the buyer ends up needing to pay for their own real estate agent, we have creative solutions for that as well.
Quit stalling and get a REALTOR® today. Text us now!