As we search together for your next home, you may see properties listed as “For Sale By Owner” (FSBO). This means that the owner has decided to sell the home themselves without the help of a real estate agent.
You should understand that it’s perfectly fine to consider these homes, but there are some things you’ll want to keep in mind:
First, even if the seller is going it alone, they still must comply with real estate law. Unfortunately, they may not understand or even be aware of all of the laws. Often we have to educate these sellers along the way.
Second, because the seller represents themselves in the sale, it’s likely you’re going to interact with them directly at some point. They may be present at their own open house, or they may even be there when you tour the home. This can feel awkward because sellers are often emotionally invested in their home and lack the proper professional distance. But don’t worry; as much as possible, you may rely on me to interact with them. This is especially true during any offer or negotiation process.
Third, their pricing may be off. FSBO sellers frequently overestimate the value of their home because they “have to get a certain price” or do not have the experience to price it accurately. I will, however, advise you of a fair market price should you decide to make an offer. Pricing discrepancies can be sticky situations with FSBO sellers.
My job is to represent and protect your interests, so I’m here for you to make sure any offer, negotiation, or closing goes well. Don’t be afraid of considering any FSBO property on the market. I hope this helps as you hunt for your next home!