According to the Wilmington Regional Association of Realtors, 2018 saw a 17.4% reduction in the Months Supply of houses on the market. Fewer listings coupled with rising Average Sales Prices (+5.5% from Nov.2017-Nov.2018) from 2017-2018, some homeowners may consider trying to sell their homes on their own. Known in the industry as a For Sale by Owner (FSBO), there are several reasons why this might not be a good idea for most sellers.
Here are the top five reasons:
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months' supply of listings from the National Association of Realtors.
With home prices on the rise and buyer demand still strong, some sellers may be tempted to try and sell their homes on their own without using the services of a real estate professional.Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves and their families.
Here is a list of just some of the people with whom the seller must be prepared...
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