For Sale By Owner in Boston: Is It Worth the Risk?

If you are thinking of selling your home in Boston, you might be tempted to try the for sale by owner (FSBO) route. After all, you can save on the commission fees that real estate agents charge, right? Well, not so fast.

There are many drawbacks and risks of going FSBO that you should be aware of before you make a decision.

Here are some of the reasons why working with a real estate agent is a better option than FSBO:

You may not save as much as you think. According to Zillow, the typical commission fee for a real estate agent is 6% of the sale price, which is split between the seller’s agent and the buyer’s agent. However, this does not mean that you will pocket the entire 6% if you go FSBO. In fact, you may end up paying more in other costs, such as marketing, staging, photography, legal fees, and closing costs. Moreover, you may have to lower your asking price to attract buyers, since most buyers work with agents who have access to the multiple listing service (MLS). The MLS is a database of homes for sale that is only available to licensed agents. According to Redfin, FSBO homes sold for about 6% less than agent-listed homes in 2017, which means that you may not save anything at all by going FSBO.
You may not have the expertise and experience to handle the process. Selling a home is not as simple as putting a sign in the yard and waiting for offers. It involves a lot of research, paperwork, negotiation, and legal issues that can be overwhelming for a novice. I can help you with all the aspects of the selling process, such as pricing your home correctly, preparing your home for sale, marketing your home to potential buyers, screening and qualifying buyers, negotiating the best terms and price, handling the inspection and appraisal, and closing the deal. I can also advise you on the current market conditions, the local laws and regulations, and the best strategies to sell your home fast and for top dollar.
You may expose yourself to legal and financial risks. One of the biggest risks of going FSBO is that you may make a mistake or overlook something that could cost you a lot of money or even a lawsuit. For example, you may not disclose a material defect in your home, such as a leaky roof or a faulty wiring, that could lead to a claim from the buyer. Or you may not comply with the federal, state, and local laws that govern the sale of real estate, such as the Fair Housing Act, the Lead-Based Paint Disclosure, and the Massachusetts Consumer Protection Act. Or you may not understand the terms and conditions of the purchase contract, such as the contingencies, the deadlines, and the escrow. I can protect you from these risks by ensuring that you follow the rules, that you have the proper documentation, and that you have a professional representation in case of a dispute.

As you can see, going FSBO is not as easy or as profitable as it may seem. It can be a stressful, time-consuming, and risky endeavor that may not be worth the hassle. That is why working with me as your agent is a smarter and safer choice.

I can save you time, money, and headaches by handling the entire selling process for you. I can also help you achieve your goals, whether you want to sell your home quickly, for the highest price, or with the least hassle. So, if you are ready to sell your home in Boston, don’t go FSBO. Contact me Today! I can guide you through the process and get you the best results.