Why do Sellers attempt to sell on their own?
The typical reason given is to save money
While there’s a willingness to pay an agent to bring a Buyer, the most common stated reason given when a home owner tries to sell their home on their own is to save the listing agent fee.
Upon further discussion, I usually find what’s most important is the
(netting the most amount possible from the sale of their home.)
There are many ways a Seller can leave money on the table when they don’t have a professional REALTOR on their team. Two examples from a recent transaction:
1. Accepting an offer for less than their asking price
The discount they gave my Buyer was more than they would have paid a listing agent to represent them
2. Under pricing the home from the start
The appraisal came back 16.2% higher than they were originally asking
Not knowing the value of your home can really cost you!
And it is not just about the money
Money Magazine agrees with the nearly 90% of sellers who use a REALTOR for a number of reasons:
Selling a home takes time:
1. Time to develop and execute marketing
2. Time to hold open houses
3. Time to take calls from REALTORS, Buyers, Lenders, Attorneys, Inspectors, Appraisers, Surveyors, Repair People and Contractors
4. Time to meet Buyers, Inspectors, Appraisers, Surveyors, Repair People and Contractors
Selling a home requires knowledge of neighborhood trends:
“The market is shifting every day. It’s the agent’s job to keep abreast of those changes,” says Ryan Fitzpatrick, director of sales for New York real estate agency CORE.”
Selling a home requires negotiating skills:
There are many issues to negotiate . . .
Selling price, Earnest Deposit, Due Diligence Period and Fee, Repairs, Closing Costs, Closing Date (just to name just a few)
And don’t forget, when the FSBO cooperates with the Buyer’s agent, they are paying a trained negotiator to work for the other side!
Selling a home takes knowledge of the contract paperwork
This is a legally binding agreement involving what is very likely your most valuable financial asset. (and there is A LOT of paperwork!)
If you are thinking about selling your home on your own, wouldn’t it be worth a 20 minute conversation to see how I get your home sold with the highest net to you?
Reach out today and let’s set a time to get together!