Selling Long Island NY Real Estate – FSBO Dangers

Many XXX homeowners think they know their homes better than anyone, and it's probably true. But that doesn't mean they're the best person for the job when it comes to selling XXX real estate, especially their own property.

Selling Long Island NY real estate as for sale by owner can be risky.

Some sellers are tempted to try a For Sale by Owner (FSBO) transaction because the XXX community is in the midst of a sellers' market and they think they can sell easily without help. Others try the FSBO route because they want to maximize their profits and avoid paying a commission to a real estate broker.

Statistics show that selling XXX real estate with the assistance of a professional real estate broker or agent will usually garner a higher profit, enough to cover the commission as well as put more money in your pocket while minimizing your legal risks.

Selling XXX Real Estate FSBO is Risky

Most XXX real estate buyers today work with a buyer agent to represent their best interests. If you choose to sell your XXX real estate on your own, you'll be negotiating with a professional and relying on your own skill to finalize a contract. Not only could you end up selling your XXX real estate for less money, you could leave yourself open to potential legal problems unless you have the contract checked by an experienced real estate attorney.

Buyers also typically prefer to look at a home without the seller present so they can feel more comfortable exploring the rooms and visualizing themselves in the property. At an FSBO sale, you, as the seller, must be present.

Selling your XXX real estate as a FSBO can be successful, but 90 percent of homeowners prefer to work with a professional rather than risk an unsatisfactory home selling experience.

For more helpful tips and articles on selling XXX real estate, check out our other articles on XXX Home Selling Tips under XXX Real Estate Categories to your right.

Selling Your Long Island NY Home By Owner

Selling your Long Island NY home yourself has its disadvantagesSelling your Long Island NY home yourself and going the “For Sale By Owner” route is a well-intentioned concept. The most common reason people do it is to save money on commission — the sales fee that is split between real estate agents and brokers.

Who doesn’t want to save money? But the reality is, many sellers who sell “By Owner” end up losing money and go through a great deal of stress in the process.

Selling your Long Island NY home is a multifaceted process — much more than just putting a “For Sale” sign in your yard and listing it online. Even if you have experience in real estate, you’ll probably be selling yourself short by selling your Long Island NY home without the use of a licensed, experienced agent. Let’s look at some of the ways how.

Reasons Not To Be Selling Your Long Island NY Home Yourself

Pricing.

Real estate agents know how to price the market using reliable, real-time data. Some FSBO homes are underpriced because the seller doesn’t realize the true market value.

Most FSBO homes are overpriced — sellers often get greedy or unrealistic because they love their home for sentimental reasons or read too much in the news. A real estate agent takes emotion out of the equation helps you set your price based on current data and market conditions.

Exposure.

It’s a seller’s market right now. It’s not uncommon for real estate agents to get multiple offers on a properly priced home shortly after it goes on the market. But that demand is created through exposure — exposure that leads to more potential buyers becoming aware of the availability of your home for sale.

FSBO severely limits that exposure. A real estate agent has the ability to market your home on avenues such as the MLS (multiple listing service).

Negotiations.

First, there’s the complicated issue of agreeing on a sales price or of handling multiple offers. That’s actually the easy part. Navigating and troubleshooting the many steps that result in a successful closing is where a real estate agent’s expertise is vital. The most difficult part of a real estate transaction is from the contract to the closing — a place where deals can very easily fall apart. A qualified real estate agent has a wealth of experience of inspections and negotiations under his or her belt. The average seller may have only been through this process once or twice.

An experienced professional real estate agent can guide you through selling your Long Island NY home and avoid the countless pitfalls and liabilities that can catch a homeowner by surprise. These problem areas could include legal, logistical and even ethical issues that homeowners can fall victim to. Real estate agents have been educated, trained and certified to handle all of these issues.

If these factors don’t scare you, then perhaps For Sale By Owner is the route for you. If they do, then you just might want to consider hiring a licensed real estate agent to help you in selling your Long Island NY home.

For more tips on selling your Long Island NY home, see our section on Long Island NY Home Selling Tips to your right under Long Island NY Real Estate Categories.

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