Why For Sale By Owner Homes Lack Representation?

Naturally, if a seller elects to list a home as For Sale by Owner, they are stating to the world that they are capable of handling a real estate transaction on their own. By going solo, they don’t have the protection or the support they would get by hiring a real estate agent, who comes with the backing of a firm. This may seem fine to sellers who think that selling a home is an easy process. However, when the unexpected happens, or buyers try taking advantage of loopholes, suddenly the seller with no representation is left feeling around in the dark, haphazardly avoiding lawsuits.

Going Rogue

There’s a lot that goes into the home selling process. From listing the home and accurately describing features to buyers, to staging the home and overseeing the contract period, it’s nearly impossible for everyday people to claim expertise in real estate sales. There are a lot of loopholes that come with selling a house. Here’s an example of something that could go wrong.

Let’s say a seller has found a buyer through FSBO and is in the final stages of completing the home sale. The home is under contract, and almost fully the property of the buyer. However, while under contract, a car crashes into the downstairs kitchen and bedroom, completely destroying a fifth of the house. Serious repairs and attention are needed to fix the destruction. Suddenly, the buyer is asking for a storage unit, temporary housing, and a variety of other expenses that you did not foresee when you listed as FSBO.

Homeowners with no representation will be out thousands of dollars, even though none of it was their fault.

Representation Matters

Lawyers need law firms to back them up in court just like homeowners need realtors and agencies to support them through the massive financial negotiation that is home selling. Without representation, sellers open themselves up to a slew of not only lawsuits but also unforeseen payments that come out of contracts drafted and signed sans the professional opinion of a real estate agent.

People are high on litigation and lawsuits today. If you have no representation, you are voluntarily taking on one of the most aggressive and expensive industries in America. Representation matters when it comes to selling your home.