If you are thinking of Selling Your Home, it may be tempting to bypass a Realtor® and do it on your own. While there are scenarios in which this can be successful, listing your house as For Sale by Owner (FBSO) can be extremely risky, and often does not actually save you Money or Time in the long run.
So, why use a Real Estate Agent?
Here are the top five reasons to have a Realtor support you in this Selling Journey:
- Net More Money = A study conducted by Collateral Analytics found that when a Home is listed as For Sale by Owner, the owners typically net 6% less money than they do when using an Agent. Despite cutting back on the cost of acquiring a Realtor, you risk Pricing the Home wrong, having less exposure which causes less bidding, etc. Because of this, you will actually often Net More Money using an Agent and allowing them to get you the best Selling Price possible!
- Knowledge of Documents and Loopholes = From contingencies to necessary documentation to avoiding legal ramifications, listing your home on your own can be very overwhelming. Utilizing a Realtor that is well-versed in the knowledge and verbiage of the industry will keep you protected from legal issues and sneaky tricks.
- Negotiations = There are often more Negotiations than one may think! This includes Negotiating with: the Buyer, the Buyer’s Agent, the Buyer’s Bank, the Inspection Company, the Appraiser, the Title Company, and more. These can be overwhelming to navigate on your own, but with the help of a Trusted Agent, you won’t have to worry about how to Negotiate any of this!
- Advertising Exposure & Marketing = Using a Realtor gives you much more Exposure than listing FSBO. Including a professional For Sale sign in your yard, Realtors will both pay for and execute an online marketing strategy, listing your Home in the MLS (Multiple Listing Service that syndicates to thousands of agents), posts on social media, and advertisements to those in your area.
- Save Time and Stress = In addition to all of this, a Trusted Real Estate Agent will make you feel more comfortable, having your back each step of the way. Selling your Home can be an exciting yet emotional journey, and we are there for you through the ups and downs. Plus, with so many aspects of Selling that there is to think about, using an Agent can save you so much time and stress! Just relax and watch the Sale happen!
All in all, research has indicated that homes usually sell for $120,000 BELOW the median price, indicating they are “priced to sell.” However, they are less likely to sell above their asking price.
If you are thinking about Selling, make sure you think through what all that entails before listing as a FSBO. It can save you more Time, Money, Resources, and Stress than you realize!
Written by Olivia Williams, Digital Media Marketing Intern