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 By-Owner
Sales Can Ricochet in Costly Ways
Selling It Yourself: Are You
Sure It's the Right Move?
By , Michele Lerner, Washington Times (02/02/01)
In a seller's market, where owners
watch the neighbors sell their homes quickly and for a substantial
premium, a Realtor's services might seem unnecessary. One estimate
holds that the for-sale-by-owner (FSBO) segment represents 17
percent of the national market. While
those choosing the FSBO path may avoid the commission that
is paid to agents, they still must compensate the buyer's
agent with a commission, plus they assume duties they may
not be qualified to handle. Even lawyers working on behalf
of sellers are not well versed in negotiating multiple contract
situations.
Sellers who elect to work on their
own behalf also may end up fetching far less for their property
than an agent would have negotiated, thus canceling out the
perceived savings.
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