TIP TUESDAY: HOW TO HANDLE A FSBO
Have you ever come across a For Sale By Owner as you are searching for homes? Let’s talk about what to do if you find a FSBO you’re interested in.
If you find somewhere that isn’t on the MLS, such as a FSBO or Zillow “Make Me Move,” your first move should be to call your Realtor. Optimally, a buyer will have zero direct contact with a seller. One reason for this is because you might “show your cards” unintentionally, and if a seller KNOWS you are in love with the home, your kids have already picked out their rooms, etc, then they KNOW they don’t need to negotiate as much.
Realtors can only help you as much as you let them, and one of our perks is that we can fight for you without the emotional ties that inevitably come with really wanting the home. One large negotiating power is the willingness to walk away. If the seller knows you won’t, that wins you no power.
Finally, once a seller has had direct contact with buyers, they are often less willing to cooperate with a buyer’s agent, which means if you want the help and guidance of an experienced professional guiding you through the purchase, you may need to shoulder that cost yourself. It is better to let the agent facilitate communication to set the expectation from the start.
So, I hope this helps you in your hunt for houses. As always: the more you know the better off you’ll be.