Most real estate agents require a 6% commission after helping to sell your home. Many sellers will decide to list their properties themselves (For Sale By Owner, or FSBO) to save this expense, but how much are they really saving?
What Really Happens When You Choose To Sell Your Property Without Using A Real Estate Agent
First of all, your home will have less exposure. Realtors have access to Multiple Listing Services (MLS). A licensed real estate agent will list your home on multiple services to notify all real agents that your property is listed for sale. This guarantees maximum exposure.
Next, your home may sell for less. On average, homes listed with a licensed real estate agent sale for 25% more than homes listed by their owners. This is because realtors understand the market. It is better to speak with a realtor about a customized CMA, to know how much your property is really worth. A home owner may not have access to all of the correct information.
Lastly, a realtor has a network of vendors. If you do list your home using a FSBO method, how will you gain access to the proper forms to make the sale legally binding? Will you be able to point the buyer in the right direction to obtain a home mortgage loan? What about the closing, which attorney should you use? Licensed realtors usually network with home inspectors, appraisers, mortgage lenders, and closing attorneys. They can provide the buyer with a list of preferred vendors to help them with purchasing a home.
Real Estate Listings Are Not More Expensive Than FSBO Listings
Did you know that real estate agents are not paid if your property doesn’t sell? Realtors are paid from the purchase price. Please remember homes listed by agents usually sell for significantly more. Suddenly, that 6% commission doesn’t sound so bad! Especially when realtors will be responsible for much of the marketing for your property.
How much are homeowners really saving when they choose to list their homes using the FSBO method? In my opinion, they lose instead of saving. So, if you are ready to place your home on the market, call me so I can help make the process as smooth as possible.
Let Me Get You Those Keys,