Selling a home is no walk in the park. It’s more work than you might think, which is why four out of five homes sold annually in the U.S. are sold through a real estate agent. But there are valid reasons why you might want to try “for sale by owner,” or FSBO (“fizzbo”). Let’s look at the pros and cons.
FSBO could be for you if:
- You have the time and motivation to learn more about the process, answer phone calls and show your house.
- You want to save the full commission that agents would earn by being involved
- You have a good real estate attorney who can protect you through all the legal facets of selling your home
- You can detach yourself emotionally from your home
FSBO could be a bad idea if:
- You have a hard time handling tension, complications and rejection
- You don’t have the right information to price your home: Over-pricing can delay a sale, while under-pricing forfeits any gains you may have made by avoiding an agent’s commission
- You’re uncomfortable negotiating
- You unknowingly stumble into legal mine fields because you don’t have a real estate attorney on your side.
Before looking at the benefits of using a real estate agent, here are some terms that you should know:
- A real estate “agent” is tested and licensed by the state
- A “broker” has taken an additional test, and is authorized to operate a private real estate firm
- A “REALTOR®” is a licensed real estate agent who is a member of the National Association of REALTORS
- A “listing agent” is the real estate agent a seller hires to place a home on the market.
- A “buyer’s agent” is the agent working for a buyer.
BENEFITS OF USING A REAL ESTATE AGENT
- Agents know the market and can help you determine the right price for your home
- Agents have a vested interest (commission) in selling your home for the highest amount possible
- They have far greater resources than you for locating buyers and steering them to your home
- Agents can better advertise your home
- They make sure in advance that prospective buyers are financially able to buy your home
- Agents aren’t emotionally invested in your home, so they can keep cool, level heads during the negotiating process
- Agents work 7 days a week and are dedicated in selling your home. This is their full time job and area of expertise.
Selling a house requires a lot of time and dedication. It also requires working with home inspectors, appraisers, mortgage companies and title companies to ensure your transaction reaches closing. Let my knowledge and expertise in real estate and social media work for you. Call me today, 504-309-1700. I can help you with all your real estate needs.