So you’re getting ready to sell your home. This raises several questions, including the most common “should I work with a real estate agent or list it as for sale by owner and cut out the middle man?” Listing the house yourself may sound like an easy and more profitable way to sell your home right? This actually is not right, and before you find out for yourself let’s guide you away from the horrors For Sale By Owner may have in store for you.
Okay, so let’s talk about why selling your home with a realtor is a wiser decision than choosing “For Sale By Owner” (aka FSBO). One reason I often find that people choose FSBO is because of a common misconception that selling your home will save you money. However, this is often NOT the case! In fact, along with the possibility you may actually spend more money selling your own home, there is a laundry list of other challenges and obstacles that come along with it. Including, but not limited to, emotional decision making, risk of exposure to legal issues, and lack of marketing to potential clients.
When living in a home for years, you tend to become attached to things you would not realize. Which then can become an issue when deciding to sell your own home. Potential buyers that tour your home will evaluate your property, aesthetics, decor, set up, and more. Although there will be positive opinions on your home, the negative opinions are what will stick and often cause unwanted emotional responses to sellers. Once the emotion arises, decision-making often is affected in more ways than one. Sellers may turn away buyers who offer too low because they believe the home is worth more, or, on the other end of the spectrum might accept offers that are too low because of time constraints. Emotional decision-making is completely removed when you choose to have a realtor represent you. This is because a realtor is strictly there to sell your home regardless of the buyer’s opinions on the home. They also will be more likely to use techniques and strategies to bring in higher offers, as well as, more qualified buyers.
The risk of legal issues is one of the most crucial determining factors in choosing between a realtor or FSBO. There are a considerable amount of legal documents and requirements when selling a home and if you are not familiar with these regulations you put yourself at risk of getting fined or even sued. Realtors understand the legal ins and outs of selling a home and what needs to be disclosed. Since realtors are covered legally they protect clients from the potential of having legal action taken upon them. They also can help clients in understanding all the legal things that are being discussed and whether or not it is in your favor. Having this type of representation is very important in selling a home.
Finally, realtors have access to numerous marketing tools including MLS systems and pools of clients. This helps move homes on the market faster than FSBO homes because they have access to these unique resources. To market FSBO homes typically comes with more out of the pocket expenses. You may think that marketing is not important in-home selling, however, studies indicate that homes with little to no marketing stay on the market considerably longer than those who had a realtor with proper marketing.
Change your mind? Contact Holly Bellucci today to get started selling your home. And if the reasons above were not enough to help you decide to choose a realtor over For Sale By Owner, check out the informative podcast Sean McGowan of NorthPointe Bank and Homes with Holly recorded on this topic.
