FSBO Realtor Reality
What a good Realtor brings to the transaction
It sounds tempting. Sell your home on your own and skip the agent commission. You could save a few thousand dollars, right? Not so fast. There is a reason more and more consumers now are choosing instead to work with agents.
Research from the National Association of Realtors indicates fewer than one in every 10 transactions are now completed without a Realtor—and that the average FSBO home sold for $174,900 compared with $215,000 for agent-assisted home sales. That’s a difference of more than $40,000!
One of the primary reasons for the difference is that agents know how to price a home correctly for sellers and identify correctly priced homes for buyers. That’s probably the biggest factor. When it’s your home, it’s hard to be objective and it’s easy to let emotions get in the way.
Second, agents have far more marketing tools and are more proficient in using them. In addition to the traditional yard sign, agents nearly always post properties on a variety of online platforms (think social media, videos, etc.), whereas consumers aren’t aware of all the marketing avenues available, much less how to optimize them.
Third, owners usually have their own jobs and careers that are their primary focus. Selling homes is the primary focus of agents. Because agents list and close homes all the time, they know how to get the job done, and they’ll spend focused time selling yours.
Finally, don’t underestimate the value of that experience. When it’s time for home inspections, written offers and especially contingencies in the offer, they know how to help you avoid problems that could derail the transaction in a hurry.