Homeowners who are looking to sell in a sellers’ market might opt for other avenues. A FSBO effort is usually time-consuming & can pose significant risk, when it would be better to work with a true professional.
Sellers might be tempted to forgo traditional selling methods but when inventory is this low buyers will pay attention to even the slightest opportunity. As a result, it might take much longer to sell your home if you FSBO.
- "If you want to save money, FSBO is probably not the best idea. The potential problem is in fact that it might end up costing you more not only monetarily but also psychologically."
It might actually be more expensive to buy and sell a home FSBO. In order to get the best possible price, you need to invest upfront with a professional property listing service. A good property listing service will advertise your home for sale on all of the industry leading real estate websites and market your home to potential buyers that live in your area and may be interested in purchasing a home.
The National Association of Realtors just released the results from their latest Profile of Home Buyers and Sellers. The survey found that 41% of people who tried to sell their home without an agent wanted to avoid paying commission fees.
NAR's report details: "Folks who sold their homes themselves in 2020 sold for less”
When you sell on your own, chances are you’ll earn less profit for the same property than if you were to sell with the help of an agent.
When the seller and buyer know each other, they offer lower prices on properties. For example, when the seller knows the buyer, that amount is much lower than all other buyers.
That's a lot of money to risk losing when you FSBO - far more than what you'd save on commission or other fees. Typically the financial risk of not using a realtor is significantly larger than the cost savings you get without one.
The seller's advantage may be less significant in today's economy, but having a pro on your side is still the key to success.
The real estate professionals at your average real estate agency are trained negotiators with a ton of housing market insights that may never be made available to you. They're the people who know how to find deals and negotiate for you.
When you hire a professional agent they can help you evaluate all of your options, find the right buyer and negotiate on your behalf. They can reduce a lot of the stress involved in selling real estate.
Bottom Line
If you're ready to sell your property this year, and are planning on selling it yourself, we recommend taking a step back & carefully considering that decision.
It's safe to assume that you stand to gain the most from working with a knowledgeable, experienced real estate agent; I can help, especially in today's market. Let's discuss how I can be helpful for you. We don't push marketing or anything else onto you. All we do is show you opportunities to make your home selling
