Homeowners that are considering selling their home on their own need to be aware of the truth; that hiring a real estate professional is absolutely the course of action to take when selling real estate. Many homeowners are probably thinking, “Of course real estate agents are going to say that” however, here are five reasons homeowners should take into consideration before attempting a for sale by owner.
Homeowners may not realize is that there are a lot of people to negotiate within a real estate transaction. A homeowner needs to know every aspect of the transaction because they will have to deal with the buyer, the buyer’s agent, the appraiser, the home inspection; the list goes on and on. Doesn’t that sound more stressful than just hiring a real estate professional to handle it all?
Half of all buyers find their home online, compared to only 1% finding theirs in the newspaper or other methods? When a homeowner hires a real estate professional, it opens their home up to all kinds of marketing strategies. Any quality real estate agent will already have a complete marketing strategy in place, and most will include listing the home on the MLS, a listing page on their website, and other digital marketing tactics such as paid social media advertising. When a for sale by owner transaction is attempted, the only marketing resources a homeowner has is the local paper, a sign in the yard, and sometimes getting the listing on a website or two.
Did you know that 90% of buyers use the MLS when looking for a home? Only an individual that is licensed in real estate can list a property in the MLS.
The paperwork required for a real estate transaction becomes more difficult each year. Regulations and disclosures for the real estate market have made the success rate for completing a FSBO transaction decrease by 10% in the past few years.
When working with a real estate professional, a homeowner makes more money. Most sellers are under the impression that they are saving money with a FSBO because they do not have to pay commissions and fees. What they often fail to realize, however is that when working with a real estate agent their home is priced more accurately and generally sells quicker.