Selling your home FSBO to save on paying a commission to a real estate agent might sound like a good idea, but there are several reasons why you should reconsider. Here are eight reasons why sellign your home FSBO may not be the the best idea:
When it comes to selling your home, you might be tempted to go the For Sale by Owner (FSBO) route. After all, why pay someone else a commission when you can save that money yourself? However, there are a number of reasons why using a real estate agent to sell your home is a good idea. Real estate agents have the experience and expertise to help you sell your home quickly and for the best price. They also have a network of potential buyers that they can tap into. If you’re thinking of selling your home, here are a few reasons why you should use a real estate agent to help you make the sale.
1. You might not get as much for your home.
-Real estate agents have access to local housing data and can guide you in setting the right price for your home so you don’t leave money on the table.
-Only “11% of sellers actually succeed at selling FSBO. And if they do? Those FSBO homes sell for about 26% less on average than agented properties, which often negates any savings!” (Clever.com)
2. You’ll have to do your own marketing.
-Real estate agents can provide recommendations for staging services or have a photographer virtually stage your home.
-They can provide a photographer to take professional photos
-They host open houses, schedule showings, and can also show your home to buyers.
-They list your home on the local MLS and online sites like Zillow, Realtor.com, etc.
-They can run social media campaigns advertising your home
3. You’ll have to show your home to buyers.
-Real estate agents will plan and schedule showings around your schedule and any potential buyer’s schedules so you don’t have to be there.
4. You’ll have to negotiate with buyers.
-Real estate agents work with the buyer’s agent with your needs in mind for timing, price, repairs, etc.
-They can advise you through negotiating counter offers and multiple offer situations
5. You might not be able to attract qualified buyers.
-Real estate agents will talk to other agents about your home to see if it would be a match for any buyers they have.
-They put your house on the local MLS which other agents have access to
6. You’ll have to deal with the paperwork yourself.
-10% of FSBO sellers hate the paperwork involved
-Real estate agents handle and manage all paperwork during the process of selling your home so you don’t have to.
7. You may not want to handle the emotionally charged situations that can come up during a sale.
-They can serve as a buffer between the buyer and buyer’s agent so you don’t have to deal with certain situations.
8. You might not be able to take advantage of all the skills and resources that a real estate agent can offer.
-While you can hire a real estate attorney to handle some of the paperwork, that can be expensive, and they won’t be able to help you through negotiations, repairs or give market advice.
-Real estate agents also have contacts for contractors, painters, mortgage officers, inspectors, exterminators, etc., for anything you may need.
Working with a real estate agent is the best way to get the most money for your home. If you’re thinking about selling your home, give us a call at (931) 520-7750 and we can help you through the process!
