McWright Realty
Dan McWright
 

Should you try to sell your home by yourself or use a dependable realtor?

problems and stress result from trying to sell your home by yourself


In today’s market, as home prices rise and a lack of inventory continues, some homeowners may consider trying to sell their homes on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for most sellers.

Here are the top five reasons:


1. Exposure to Prospective Buyers



According to NAR’s 2018 Profile of Home Buyers and Sellers, 95% of buyers searched online for a home last year. That is in comparison to only 13% of buyers looking at print newspaper ads. Most real estate agents have an Internet strategy to promote the sale of your home, do you?


2. Results Come from the Internet


 
Where did buyers find the homes they actually purchased?
* 50% on the Internet
* 28% from a real estate agent
* 7% from a yard sign
* 1% from newspapers

The days of selling your house by putting out a lawn sign or putting an ad in the paper are long gone. Having a strong Internet strategy is crucial.


3. There Are Too Many People to Negotiate With



Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale by Owner:

* The buyer who wants the best deal possible
* The buyer’s agent who solely represents the best interests of the buyer
* The buyer’s attorney (in some parts of the country)
* The home inspection companies, which work for the buyer and will almost always find some problems with the house
* The appraiser if there is a question of value


4. FSBOing Has Become More And More Difficult



The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 7% over the last 20+ years.

5. You Net More Money When Using an Agent



Many homeowners believe that they can save on the real estate commission by selling on their own, but they don’t realize that the main reason buyers look at FSBOs is because they also believe that they can save on the real estate agent’s commission. The seller and buyer can’t both save the commission.

A study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is that,

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.

Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?


Our Conclusion:



Before you decide to take on the challenges of selling your house on your own, sit with McWright Realty and see what  have to offer.
 


The following chart with help you compare the benefits:

Price

 Realtor

 FSBO

 You generally get more money from a sale of a home with a realtor, according to the National Association of Realtors (NAR). You don't pay a realtor 6% of the homes closing costs.
 

Marketing

  Realtor

 FSBO

 A realtor has access to the Multi-Listing-Service (MLS), where 1000's of buyers can look at your home.  Sellers cannot get their homes on the MLS. They have to pay out of pocket to market their home.
 

Time

  Realtor

 FSBO

 A realtor dedicates their time and energy to selling the home, hosting open houses and providing  walk-thrus.  Sellers usually have a hard time giving up enough time to show the home to potential buyers
 

Negotiation

 Realtor

 FSBO

 Realtors become the middleman between buyer's agents, escrow and title companies. Sellers must do all negotiation themselves.
 

Legal Help

  Realtor

 FSBO

A realtor knows the legal ins and outs of a home's sale. Sellers who don't know the legal parts of a home sale could be sued.



request book for sale by owner

Call For a FREE Copy today at
(321) 749-0462

 

Featured Properties

 
new construction homes
 
rental homes
 
55+ communities button
 

School Search

Enter a zip code to see the schools in that area.

 

Contact Me

Type the characters

 

Want to Know How Much Your Home is Worth?

Get Your FREE Home Market Analysis Report Right Now!

YES, SHOW ME NOW