For Sale By Owner

Josh's in-laws have given him bad advice. Dave doesn't think a for-sale-by-owner deal is the way to go.

QUESTION: Josh has had his home on the market for a year. It started at $389,000 but he’s been unable to sell it even with price drops. His wife’s parents are telling them to do a for sale by owner deal. Does Dave agree?

ANSWER: Don’t do a for sale by owner. Her parents are giving her horrible advice. To start with, real estate sells based on exposure. A for sale by owner can’t expose the property as well as a high energy real estate person. The average home also sells for about 12% to 16% more with a high quality real estate agent. I’m a strong believer in a good, quality agent.