consequences. The National Association of Realtors® and Bankrate.com have reported on their sites that most FSBO homes are overpriced. That is true, and is usually a natural effect of people not knowing the actual cost of their property and the value of their hard-built equity, combined with a desire to draw as much profit as possible out of the sale. Unfortunately, overpriced properties are far less likely to be sold and have a much higher chance of scaring off potential buyers. While the issue of correct pricing can be bypassed with some solid real estate and community sales market research, the following negotiations cannot. It is a known fact that a lot of owners who lack professional presentation skills and/or developed negotiation skills end up selling their houses at far lower prices than they are actually worth. Statistically, a professional real estate agent manages to sell homes for a price that is, on average, about $27,000 higher than the prices private homeowners settle for. So, considering all of this, saving 5-7% of your house value in commission may be tempting at first glance, but is it really worth it considering the much larger percentage you might stand to lose on the final selling price?
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