Selling your home yourself (FSBO) or Selling your home with a Real Estate Professional Pro’s and Con’s
Homeowners who declined to use a real estate agent to sell their property are twice as likely to say they weren’t satisfied with the selling experience, according to a new survey from Clever Real Estate of 1,000 home sellers in 2022 and 2023. Survey responders say they realized they likely made less money on the home sale and faced more stress by not having a professional represent them.
Why do sellers want to sell their home themselves? It is so they will not have to pay a realtor’s fee which is typically between 5%-6%. On paper that can look like quite a big savings. However, there are several factors to consider when evaluating whether you can make more money selling your home yourself.
Using A Professional
- Market Knowledge: Real estate agents have expertise in pricing properties competitively to attract buyers while maximizing the seller’s return. Without this knowledge, FSBO sellers may overprice or underprice their homes, potentially leading to longer days on market or missed opportunities for higher offers.
- Marketing Resources: Real e.state agents’have access to extensive marketing resources and networks, including Multiple Listing Services (MLS), professional photography, and targeted advertising. These resources can help attract more buyers and generate higher offers than FSBO sellers may achieve on their own.
- Negotiation Skills: Experienced real estate agents are skilled negotiators who can advocate for their clients’ interests during price negotiations with buyers. They can often secure higher sale prices and better terms than FSBO sellers who may lack negotiation experience.
- Legal Protection: Real estate transactions involve complex legal documentation and regulations. Real estate agents are familiar with these requirements and can ensure that all necessary paperwork is completed accurately and in compliance with relevant laws. FSBO sellers may face legal risks if they’re not familiar with the legal aspects of selling a home.
- Time and Effort: Selling a home FSBO requires significant time and effort on the part of the seller. FSBO sellers must handle tasks such as marketing, scheduling showings, coordinating inspections, and negotiating with buyers, which can be time-consuming·and stressful.
As always, rather you are Buying or Selling or needing to borrow a cup of sugar or just need to ask some real estate questions “I’m Your Next Door Agent.” Give me a call. I will be glad to help.
For more insights on Huntsville’s real estate trends or to connect with a trusted real estate professional, visit Terri Coleman, Your Next Door Agent, at www.myrealtorterri.com or contact her directly at (936) 581-4434. Specializing in North Houston, including Spring, The Woodlands, Conroe, Lake Conroe, and Willis, Terri is committed to serving and guiding clients through their real estate journeys.
