While "For Sale By Owner" (FSBO) home sales may seem like a good way to save money, did you know that approximately 80% of FSBO sellers end up hiring a real estate agent? Here's why.
by Robin Corey, MBA | Realtor | Marin County, CA
Without a real estate agent, you limit your home's exposure. Agents have access to multiple listing services (MLS) and marketing resources that help your home get more exposure. Plus most agents these days work with their buyers on customized search platforms which do not feature FSBOs.
Lack of expertise:
Agents have a wealth of knowledge. They provide guidance on pricing, staging, and negotiation. They know how to qualify a buyer, and even know how to create multiple offer situations for certain properties, resulting in higher prices. Most buyers and agents also prefer to work with professionals as it is perceived as less risky.
Real estate transactions involve a lot of legal paperwork and regulations. If you are not familiar with the requirements, you could inadvertently make a mistake that could cost you time and money and result in legal liability.
If you are not experienced in the home selling process, you may spend a lot of time researching and learning how to do it properly, plus you’ll need to be available for buyer, inspection, and appraisal appointments to name a few.
You're not saving as much as you might think:
If your buyer has an agent (which most serious buyers do) you will likely be paying their commission (typically 2.5-3%) either directly or indirectly.
You are targeting the wrong buyers:
The people attracted to a FSBO are often investors or people looking to make lowball offers, and may or may not even be qualified to buy your home.
Before you decide to list your own home or if your home is currently listed by you and you are not getting the response that you had hoped for, reach out to an experienced local Realtor for help. Getting your home sold fast for the highest possible price is our expertise. If you would like to be connected to a local agent in your area, I have an amazing network of agents across the country who can help. Let's connect. http://www.robincorey.com