What’s the Best Choice for Home Sellers?
If you’re thinking about selling your home, you may wonder whether you should go the “For Sale by Owner” (FSBO) route or work with a real estate agent. At first glance, selling your home on your own may seem like a good way to save on commission fees. However, before making your decision, it’s important to understand the challenges and potential drawbacks of FSBO as well as the benefits of working with a professional.
FSBO Sales Are Declining
The percentage of FSBO sales has reached an all-time low making up only 6% of all home sales, according to the National Associations of Realtors. This trend suggests that more homeowners are realizing the complexities of selling a home without a real estate agent.
Pricing your home correctly, marketing to the right audience, negotiating with buyers, and navigating legal paperwork can be overwhelming. Mistakes in any of these areas can delay your sale or even cost you money in the long run.
The Benefits of Using a Real Estate Agent
Real estate agents bring a wealth of expertise and resources to the table, which can make the selling process smoother and more profitable. Here’s how they can help.
- Accurate Pricing: Agents have access to local market data and comparative analysis tools to price your home competitively while maximizing your profit.
- Wider Exposure: Agents use the Multiple Listing Service (MLS) and their networks to market your home to more buyers than you can reach on your own.
- Negotiation Skills: Experienced agents can handle offers and counteroffers, ensuring you get the best possible deal.
- Handling Paperwork: From disclosures to contracts, real estate transactions involve a mountain of paperwork. Agents ensure everything is completed correctly and on time.
FSBO Can Cost More Than You Think
While FSBO sellers aim to save on commission, studies show they often sell their homes for less than those who use an agent. According to the National Association of Realtors, over the last year, the median price for all FSBO sales was $380,000, significantly lower than the median for agent-assisted sales, which was $435,000.
Selling your home is one of the biggest financial transactions you’ll make. By working with a trusted real estate agent, you’ll have the guidance and support needed to sell your home quickly and for the best price. If you’re ready to sell, contact us today to learn how we can help.