Why The FSBO Option is Not Always The Best Choice

redpostrealtyleaders
Leaders of Seacoast Real Estate Agency Remain Active in Seacoast Community
March 4, 2016

Homeowners obviously know their homes better than anyone else, but that doesn’t necessarily mean they should sell it on their own. Many people are interested in a ‘For Sale by Owner’ transaction because they believe they will be able to sell their homes easily and for more money, but what they forget to think about is how they can maximize their profits and save themselves time. Choosing to sell with a Realtor is the right choice for a variety of reasons:

  1. Expertise: Starting off, Realtors have access to market data including recent sales plus current homes on the market which can be used to sell a house more quickly and help price a home more appropriately. At the same time, having a Realtor is extremely effective time-wise. It can be difficult fitting the sale of a home into a home owner’s typical daily routine and can become overwhelming trying to juggle both completing a sale and preparing for a move on top of day to day life. A Realtor can show homes when the owner isn’t available to do so, respond to inquiries from potential buyers and their Agents, and gather valuable feedback from visitors – all things that save a seller time, money, and aggravation.
  2. Insider Info: Realtors are dedicated to knowing what potential buyers are looking for in not just any home, but homes like theirs. Simply by looking at a home they can suggest a variety of ways to improve its appearance, allowing for a different visual that would be more appealing to visitors. Along with this skill, potential buyers are more likely to feel comfortable exploring the different rooms and imagining themselves at that specific property than they would if the current homeowner was the one standing there next to them.
  3. Marketing: We all know that the use of social media has taken off exponentially over the years, and with all the different resources available, figuring out how to use social media to an advantage can feel impossible and overwhelming. Which sites will be good for marketing your home to potential buyers? Which will be a waste of time? Realtors have professional marketing experience and will be able to effectively market your home, making sure it gets the visibility it deserves. When working with a Real Estate Agent, owners are not just doing less work but can often times sell for more than they would in a FSBO transaction. Sounds like a good trade.
  4. Perspective: The majority of home buyers today are working with an Agent to represent their interests, so if a seller chooses to sell their home while flying solo, they’ll most likely be negotiating with a professional representing someone else’s best interests while relying on their own skills (or lack thereof) to finalize the contract. This could potentially mean the home sells for a lesser amount than desired… and what seller wants that? Along with this outcome, often times a Buyer Agent doesn’t want to work with a FSBO because they’ll end up doing the lion’s share of the work for the same amount (or less) than they’d be compensated for if they found another similar home For Sale by Agent.

So, when the sale is ready to close, Realtors can and will help a seller negotiate a contract that not only meets their needs for a settlement date but is also in compliance with the local and state regulations of which a homeowner might not be aware of or prepared for. Of course, FSBO transactions can be successful, but when working with a professional Realtor, the sales process is much easier and rewarding for all parties involved.

What are your thoughts?

 

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