For most people, a for-sale-by-owner (FSBO) transaction simply isn’t in the cards. Here are five reasons why.1. FSBOs can’t list their home in the MLS. FSBOs aren’t permitted to put their home in the multiple listing service (MLS) because these industry membership organizations are open only to licensed Cincinnati real estate brokers and agents. FSBOs are also locked out of many home search engines and Web sites, including this site. Sure, a determined FSBO can put a for-sale sign in his or her front yard and run a tiny advertisement in the local newspaper, but the home won’t receive nearly as much exposure as it would through the MLS.

2. Agents won’t show FSBO homes. In a typical home sale, the buyer’s agent receives a percentage of the commission that the seller pays the listing agent. Without a listing agreement, there’s no guarantee that the buyer’s agent will be compensated for his or her services, unless the buyer has signed a buyer’s brokerage agreement that specifically provides for such compensation. Even if a FSBO offers to pay the buyer’s side of the commission, most agents won’t want to go through a transaction with an unsophisticated self-represented seller across the table. That means the pool of potential buyers for FSBO Cincinnati homes is limited primarily to un-represented and probably unqualified prospects.

3. FSBOs usually overprice their home. Like most homeowners, most FSBOs honestly believe their own home is worth more than comparable Cincinnati homes in the same Cincinnati neighborhood. Usually, they’re wrong. A Cincinnati real estate agent can provide an update on market conditions, an assessment of the likely selling price of the home and tips for improving the home’s buyer appeal. Overpricing a for-sale home is a sure way to deter potential buyers.

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