With so many tools and so much information available to home sellers, it’s tempting to want to save money and take the job of selling your property into your own hands. But are you really saving money? Are you confident you have the stamina, time, and expertise to conduct a thorough marketing campaign, buyer negotiations, and complete the steps necessary to file the proper paperwork as a FSBO (for sale by owner), let alone know how to accurately arrive at the proper asking price?
It’s possible that any money you do save on agent fees could be spent paying for unnecessary and unexpected expenses or even legal blunders because you didn’t have a knowledgeable representative leading you through the process. Sellers need someone to help them from the get-go to avoid mistakes and bad decision-making as a result of inexperience.
Here’s are just nine reasons why you're better off selling a house using an agent instead of selling it yourself:
A professional opinion on what your home is worth. Agents know the market, and what pricing is appropriate. They have access to the most recent and accurate data, data that non-professionals probably can’t get.
Objective suggestions on increasing buyer interest. Your agent can point out how you might increase the value and asking price with simple, low-cost fixes. They also probably know the best and most economical contractors to get those jobs done, and done right.
No advertising, marketing or networking costs. FSBO’s must pay upfront for certain marketing services and listings. If you’re hoping to get exposure on those high-traffic real estate marketing websites that match the kind of viewership, data, and reliability that are already available to agents—such as MLS—you’re probably going to have to pay for it.
Agents market to a professional network to which you don’t have access. Agent-to-agent networking is an invaluable asset. The National Association of Realtors (NAR) statistics show that half of homes sold are through a cooperative sale, where another agent brings the buyer.
Weeding out the time wasters. Buyers from connections between your agent and other buyer agents are also more likely to be serious and pre-qualified for financing.
No time spent on open house and showing bookings. You have a life and probably a job and family to tend to. An agent handles these events for you, eliminating the need to deal directly with potential buyers, which may also be stressful and undesirable for you and for the buyer.
Sale negotiations. Your agent is the buffer that allows negotiations to be carried out professionally, objectively, and expeditiously. He or she can help you evaluate an offer and suggest what might be negotiated.
Proper handling of paperwork. Your agent makes sure you have all the necessary paperwork, that it’s completed properly, and meets legal requirements. You don’t have to start from square one learning, hoping you didn’t miss anything, and did it correctly.
Better price. You increase your chances of getting more for your home. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales, according to 2013 NAR statistics. Also, NAR reports that getting the right price is one f the top tasks on the FSBO’s difficulty list.
Agent-assisted home sales are the best route to take. You are being helped by a knowledgeable ally, find your buyer more quickly, come away with more money from the sale, rest easy knowing that legal procedures were followed, and that all parties have proper documentation. It’s no wonder why FSBOs account for only 9% of home sales.
