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Sellers Regret FSBO - Hire an Agent!

sellers regret fsbo

Most people don’t know this, but the classic number, “My Way”, crooned by none other than Mr. Frank Sinatra, was actually a song about selling real estate “For Sale by Owner”, or FSBO for short. Yes, Ol’ Blue Eyes knew about those sellers who liked to do things their way, and he also must have been able to see the future when he he sang, “Regrets, I have a few”, because a recent survey found that sellers who tried to sell their home or condo on their own were twice as likely to be unsatisfied with the process, and more likely to change their mind about those “overpaid agents.” The Sultan of Swoon even warns against trying the home selling process on your own with lines about crying and a “share of losing”, but still some sellers dare to embark on this solo journey.

Now joking aside, this survey did find that sellers who tried FSBO listings had more difficulty than expected, and in many cases, these sellers felt like they made less money from the sale than they would have with professional representation. More than a third of respondents admitted that they potentially made legal mistakes during the transaction, had difficulty understanding the contract, and experienced buyer distrust because there was no listing agent involved. Sellers without a Realtor® also reported more stress, with half of the survey participants saying that they felt overwhelmed, and even admitting to crying at some point during the transaction.

Now, only 7% of home sales in 2022 were sold “by-owner”, so not too many tears were shed, but for the majority of sellers that did use an agent, there was nearly an 80% rate of satisfaction. Of course, the rate of satisfaction is much higher, so contact us for real estate help across the Sunshine State. We’ll take “all the blows” for you!

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