For Sale By Owner or Hire an Agent?
So you think you want to sell your home
….. and you think you can do it yourself, “For Sale By Owner.”
I mean how hard could selling your own home be? Especially in this market?
Take some pictures,
Get it online,
Stick the sign in your yard, and
BAM!
The buyers will come running, Right?
If only selling your home was that simple…
More often than not, selling your home can be a long, tedious, and sometimes frustrating process.
A lot goes into it and for the vast majority, FSBO’s fail.
Not convinced?
Fair Enough.
Here are 8 reasons a real estate professional should earn your business and assist you with selling your home.
1. Experience
Experience brings expertise. Real Estate Agents know how to navigate the market and get your home sold. From listing to closing, there are several steps in the process, as well as numerous legal contracts. And in this market, there’s a high possibility you may end up with multiple offers on your home. Each of those offers may contain different opportunities and financial possibilities. An experienced agent can help you understand your offers as well as assist you with navigating through the entire transaction.
2. Negotiation Skills
It takes specialized skills negotiating a home sale and real estate agents are professionals. Your listing agent is on your side. They will work with the buyer’s agent to get you an offer that meets your needs while also guiding you to make smart decisions on counteroffers.
3. Marketing
The marketing your agent provides is one of the most important factors to selling your home. A listing agent has access to a number of valuable online platforms, including the MLS. A listing agent could provide professional photographs as well as recommendations on how to best stage your home. Furthermore, with the proper marketing, listing agents can bring in numerous potential buyers by hosting Open Houses and scheduling showings.
4. Access to Database Including Potential Buyers, Realtors, and Other Industry Professionals.
Real estate agents may have access to a database filled with potential buyers as well as other industry professionals. By networking with other real estate agents, your listing agent has endless possibilities positioning your home as a match to other buyers.
5. Knowledge of the Market
Real estate professionals provide expert knowledge of the local housing market. Pricing your home correctly is extremely important. Agents consider the market condition to strategize the optimal plan for selling your home and for their seller to net the most money possible.
6. Safety- Confidentiality and Security Against Scammers
Agents have a fiduciary responsibility to their clients. They are legally responsible to put their clients best interests first. Your confidentiality is vital and should be held to the highest standard. Conversations regarding your finances may take place throughout the transaction. You should trust your agent. Furthermore, your agent should know how to protect you and your finances from unreasonable requests from all parties and/or potential scammers.
7. Cons FSBO’s May Face
–You Might Miss Out on Possible Buyers Without a licensed real estate agent, you may not be able to list your home on MLS. Therefore, buyer’s agents may not see it and may not show your home to their clients. Furthermore, some buyer’s agents may not even want to participate in a FSBO transaction, knowing that there is not another licensed professional on the other side of the transaction.
*”89% of sellers listed their homes on the Multiple Listing Service (MLS), which is the number one source for sellers to list their home” –National Realtor Association
– Possible Exposure to Legal Risks A lot of legal paperwork is involved in selling a home. You are exposing yourself to huge liability by not having an expert correctly complete and review all the necessary paperwork.
–FSBO May Attract Lowball Offers Some buyer’s and/or investors can think they can get a reduced price and submit low ball offers, simply because you are not being represented by a real estate professional.
–Emotions You are selling YOUR home. The place you have spent “X” amount of years making memories. This may result in you letting your feelings get in the way throughout the transaction.
8. You Net More Money by Working with an Agent
Let’s be honest, one of the biggest reasons sellers decide to sell their home FSBO is to save on paying a commission. However, the problem with that idea is data shows that FSBO sell for significantly less than agent listed properties. According the The National Association of Realtors “FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $200,000 last year (the same as the year prior), and significantly lower than the median of agent-assisted homes at $280,000.” With that in mind, a seller should do their due diligence when hiring a listing agent. Be sure to ask the agent to explain just what they plan on doing to get your home sold . At the end of the day, a seller should feel like their agent exceeded expectations and earned their commission.
Bottom Line
Selling your home could be one of the most important transactions you will ever make. If you stop and consider the scale of the transaction wouldn’t you want an experienced professional by your side?
We would be honored for the opportunity to EARN your business. Give Seay Group a call today, and schedule a free consultation to discuss what your home is worth and the benefits of selling your home with us. 214.636.8485
