FSBO (For Sale By Owner) sounds like a great option to save money. But what are you really saving when going it alone? According to reports from the NAR (National Association of Realtors) you are not going to save time or money since homes listed by agents sold for 10% more than homes without. Taking into account the average commission of 6%, and you’re losing money by not using one. Below is a list of the reasons that account for this phenomenon.
1. You are emotionally attached
No matter how level-headed you think you are, selling your home is emotional. When someone comes in with a lowball offer or offends your decorating style, will you be able to remain professional? Remember, this is a business transaction.2. You like your house
A “lived-in” house is not going to wow buyers. Beyond the obvious tips of making your house sparkling clean, a Realtor will help you stage, declutter and depersonalize to get it in selling shape. Agents know what buyers are looking for.
3. You are nose-blind
We’ve all seen the “nose-blind” ads on tv. You are used to the odors in your house whether it be from pets, must, or just daily living. Perfuming it with air fresheners isn’t going to cover it either as many people are allergic to those odors and no matter how great the house is, if someone has an allergic reaction they will not be making an offer.
4. You don’t know current trends
A dated kitchen isn’t just going to affect your sales price. It may keep you from getting offers altogether. The rule about kitchens and bathrooms selling homes is still true; even small but impactful changes can help substantially, which Realtors are keenly aware of.
5. You don’t hear the noise
Think it’s gonna be easy to distract from the eyesore down the street or the overwhelming noise in the backyard? An agent will give it their all in ways you may not have thought of or be skilled in, using smart pricing and marketing strategies to deflect, downplay, or refocus attention on other, more attractive elements of the home.
6. You don’t know thousands of people. And you’re not connected to hundreds of agents.
That’s the difference an agent can make in using their network to market your home far and wide and getting it in front of potential buyers. This is typically the biggest benefit a realtor can give you.
7. You can’t read market values
Referring back to the emotional attachment you have, you may think you know what your house is worth. Sellers rarely get what they want for their houses, since a house is only worth what someone is willing to pay for it. Market value is market value, and a real estate agent will have a much easier time establishing that and sticking to it.
8. You have your own style
Your style will show through in the staging of your house. Most buyers can’t see past how the house is presented to see the potential. An agent will be able to tell you what changes to make to appeal to the most buyers.
9. You don’t know what to do with a low offer
What if you play hardball and lose the only interest in your house? What if you agree and always regret the idea that you left money on the table? Agents are expert negotiators and know how to read the situation to make sure your best interests are being met.
10. You can’t fix everything from the inspection
It’s an agent’s job to handle the multiple unpleasant details and you don’t want to fight about who’s going to pay to fix the leaky roof and the cracked living room window. Buyers can be demanding and having an agent to deal with them can be well worth the commission you pay.
11. You don’t know what curb appeal is
Curb appeal is critical to getting your home sold. A real estate agent will help you focus on the simple steps to get it in good shape. Fail to address this key area and those coming to see your home may just pass on by, not even wanting to go inside.
12. You are there
Shadowing potential buyers while they check out the house, pestering them with questions about how they like it, interrupting their agent to add inconsequential details – all of these things may turn off buyers and send them off to the next home. Agents know what to emphasize and how to give potential buyers space. Crowding and/or annoying them may be enough to make them walk. After all, if dealing with you during the home tour is a drag, who’s going to want to deal with that during the escrow?
According to NAR reports, the median selling price for all FSBO homes was $210,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $151,900. However, homes that were sold with the assistance of an agent had a median selling price of $249,000 — nearly $40,000 more for the typical home sale. Still want to do it on your own? Call Helen today at 847.967.0022 or email [email protected].
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