You see the signs on yards around town – For Sale by Owner. In fact, 10% of home sales were FSBO just a few years ago, down from almost 20%.
It is an intriguing idea. Why not save the thousands of dollars in commission and put it in your pocket? Well, there are many compelling reasons to use a REALTOR.
I am sure you are capable of writing an enticing description of your home, BUT recent studies have shown that 88% of buyers begin their search for a home online. A licensed REALTOR will have multiple online ways to showcase your house, greatly increasing exposure to potential purchasers. Forty three percent of all home sales find their home through an internet listing on professional sites.
The number of FSBO homes has dropped in recent years due to the mandatory industry disclosures and regulations. Are you ready to navigate frequent changes and deal with the dramatically increased amount of required documentation?
There are at least five crucial people a real estate agent deals with when selling a home, the majority of whom do not have the seller’s best interests in mind.
The buyer who wants the lowest possible price
The buyer’s agent
The buyer’s attorney (in some areas of the country)
The home inspection companies
The most compelling reason, perhaps, to utilize a REALTOR is this:
The average house sold by the homeowner sells for $208,000
The average house sold by an agent sells for $235,000
If FSBO seems an attractive option to you, I urge you to take the time to discuss your home and selling situation with a real estate professional and see what they have to offer before putting up that sign. P.S. – the neighbors hate those signs.
As always, feel free to leave comments or questions below and contact me via email for a consultation or see how I can be of help.