myths 2018-07-17T12:36:04+00:00
The biggest FSBO myths
Buyers' agents may not want to show your property to their clients

This is a very important statement that needs to be clarified. Yes, agents might not want to show your listing to their clients, but if a buyer finds it on the internet or through any other source, their agents must show your house. The low commission is not an excuse, and an agent can face severe consequences if he/she lies to her client. As we know, the majority of buyers start their search on real estate websites such as Zillow, Realtor, etc. Therefore do not be afraid of an agent not wanting to show your house.

It's harder to keep your emotions out of the sale

It is tough to hear somebody saying bad things of your home where you had the best time of your life with your family. And that is why it is so great that we live in the age of information technology. You do not need to meet face to face with a potential buyer or have a phone call. Email or a message is a good way of communication. The best part is that nobody expects an answer or a comment right away. If you get an email with people saying bad things about your house, take a break, think about why they say it. People who emailed you this spent their time because they are interested; otherwise, they would not even bother. It just their way of negotiations. The technology helps us not being emotional.    

It becomes your full-time job

What this phrase is saying is that it takes a lot of your time coordinating different things. The most time-consuming aspect of selling a house is scheduling and showing your home to potential buyers. We have to say that it is true. But the technology helps even here. Bynsy designed a system of smart showings where a seller does not need to coordinate anything even spending time on showing her/his home. You can learn about it on our main page or in a video on youtube. So it is not your job anymore.  

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You do not have enough experience to negotiate the sale

It is important to emphasize that there is only one person who does things in your best interest, and this person is you! Even if you have an agent who must represent your best interests, think about themselves first. It is human nature, do not feel that there is something wrong with it. Real estate agents make money only when a house is sold. People try to make as much as possible income in the shortest period. That is why people ask for a raise, look for a job with a higher salary, etc. Do not be afraid to negotiate the sale. Establish the worst condition you are willing to accept and do not go beyond it. Remember a buyer is interested in purchasing your house!

Nobody will find out about your house

Maybe be even 10 years ago that was true, but not anymore. Using most of the FSBO services you get on MLS and your house appear on all listing websites. If MLS listing is not included in the service package you use, you can list your home on Zillow, Trulia, ForSaleByOwner.com, and it is enough for thousands of buyers to see it. Some services even market your home in a very professional way, but their prices much cheaper than agent’s commission.    

You put yourself at risk of being sued

This is the most serious statement, but we will give the shortest answer. You can be sued only if you hide or lie about some problems with your house. If you do not work in this area, nobody expects you to be an expert. Be honest when you fill out disclosure forms! A closing company will handle the deed and the title transfer. You do not need to worry about it.    

You can't see what's wrong with your home

The question we have is “Who can?”. Companies spend millions of dollars to understand whether customers like their product or not. Neither you or your agent can afford it. What matters is the opinion of the potential buyers. We do not talk about cleaning and not having the pilling paint. People are different, and they have different preferences and tastes. Your house can’t satisfy every buyer. No product in the world can satisfy all customers. Use your taste and listen to your potential buyers. If most of them say the same thing, then you probably miss something. Bynsy gives an opportunity to get direct real-time feedback from buyers.

FSBO do not know how to price their home

Only two things affect the price: supply and demand. Even if you priced your house too high, there are still can be a person who is ready to pay any money for your home, but the sale might take longer. People might be ok with your price, but their bank does not approve this mortgage. There are many places where prices jumped 30-40% from last year. No comparison can catch it. There are many websites, like Zillow, but people always complain about their estimates. They probably make the same comparisons but in a more fundamental way. There are many more resources today that provide a price estimate for your home.   

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