Why FSBO Can Actually Cost You Money

Why FSBO Can Actually Cost You Money

If you are considering selling your home by yourself in order to save on real estate commission, you may want to think twice.  Statistics show that selling a home with the use of an experienced agent can actually net the seller a higher proceed than homes sold by the owners.  The use of a real estate agent also significantly reduces the legal liability for the home owner.  Here are some reasons why it is smart to use a real estate agent to assist you in your home sale:

In general homeowners are not experts in the area of negotiations.  Real Estate agents are trained professionals who deal with negotiating on a daily basis .  This expertise often results in homes selling for a higher percentage of list price.  Real estate agents have knowledge of recent sales of comparables at their disposal to use to argue and support a higher sales price.  Also, buyers are often very uncomfortable negotiating directly with home owners and this may deter them from making an offer at all.

  

This also applies to knowledge of real estate contracts.  Most homeowners would have a very difficult time understanding all of the fine print and legal jargon on a standard real estate contract.  This increases the probability of legal ramifications for the home owner.  Real estate agents are experts in this area and can explain in detail the intricacies of the real estate contract to both parties.  Also, once you have a ratified contract , actually getting to the closing table is a very complicated, multi faceted, time consuming, process.  A real estate professional can handle the attorneys, lenders, inspections, repairs, etc on your behalf.

It's statistically proven that using a real estate agent significantly reduces the time required to get your home sold.  As a FSBO you simply can not garner the exposure needed for your home to get it sold quickly.  The process could be drawn out for many additional months if you try and sell your home yourself.  The longer it takes to get your home sold the more mortgage payments you will have to pay during the time your home is for sale.

Real estate agents already have a built in network of other real estate professionals to promote your property to.  We also already have a large amount of buyer leads in our inventory that may be interested in your home.  Most importantly we work with lenders to ensure that only prequalified buyers will be allowed to view or make offers on your property.  No one wants to wast time and energy preparing their home for viewing to an unqualified buyer.

A typical home owner does not have the tools at their disposal to be able to price their home accurately.  Real estate agents can easily look at list and sold prices per square foot of comparable properties that are for sale of have recently closed to ensure your property is priced correctly.  We can do a CMA on your property for free that will provide the home owner with detailed information on accurate pricing that a seller would have to pay hundreds of dollars for an appraiser to do.

Home owners generally have jobs and other commitments that do not allow them the flexibility to show their home at times convenient to buyers.  It is extremely important to make a potential buyer viewing your property as easy as possible in order to get it sold.  Also, buyers are very uncomfortable viewing homes while the owners are present.   Showing homes and meeting their clients needs is the primary job of real estate professional and can alleviate that awkwardness.

There are two  main reasons why it is in a sellers best interest to leave selling their home to a professional .  The first is simply that we have the buyers.  Buyers come to us seeking our knowledge, advice and expertise in purchasing a home because the service is free to them.  Why would they not take advantage of our services???  I always show buyers everything that meets their needs that is listed in the MLS before I would attempt dealing with a FSBO.  I only resort to working FSBO's for my clients if I have exhausted MLS options and was unable to find them anything that suits their needs.

 That leads into the second most important reason to list your home with a professional:  ONLY A REAL ESTATE AGENT CAN SUBMIT YOUR HOME TO THE MLS!  The exposure that the MLS gives your home to potential buyers and other agents is of immeasurable importance in selling your home.  There is simply no other more powerful tool available in selling a home, period.

There are many other benefits of working with a real estate professional, too many to list in this brief blog.  If you are thinking of selling your home,  it is in your best interest to avoid the undue stress and legal liability of handling it yourself.  Call me and I will be glad to do a free CMA on your home!

Click here to search the entire MLS for your dream home:

www.gready.scexit.com

Gready Frazier
Broker Agent
Exit Midlands Realty
803-924-5785






Gready Frazier Headshot
Author:
Phone: 803-924-5785
Dated: April 30th 2014
Views: 1,709
About Gready: I am a licensed Real Estate Broker with over 15 years experience of real estate sales in the Columb...

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803-753-4961
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