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April 26th, 2016 10:48 AM
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With housing inventory low and prices consistently rising, some homeowners in this market consider selling their home on their own, as a "For Sale By Owner" or FSBO.  But here are several good reasons that using a realtor is a much better choice, as stated in a recent article of AARP magazine:

1.  There are too  many people to negotiate with.  The buyer who wants the best deal possible; the buyer's agent who solely represents the best interest of the buyer; the buyer's attorney; the home inspection companies who almost always find some problems with the home; and the appraiser if there is a question of value.

2.  Exposure to prospective purchasers.  Studies show that 89% of buyers search online for a home.  You must have an internet strategy and large exposure online to promote the sale of a home.

3.  Results come from the internet.  Buyers find the home they actually purchase 44% on the internet and 33% from a real estate agent.  Only 10% of buyers come from a yard sign or newspaper ad.

4.  Doing a FSBO has become much more difficult.  The paperwork involved and specific disclosures needed in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory in recent years.  And every year, these documents are updated or changed, which provide protection for both sides of the transaction.

5.  You net more money when using a real estate agent.  Many homeowners believe that they will save the real estate commission by selling on their own.  But the main reason buyers look at a FSBO is because they also believe they can save the real estate commission.  So they expect the seller to come down much lower in price.  The seller and buyer can't BOTH save the commission.  An agent will work hard to assure the seller gets the most money for market value.  

The old saying holds true in real estate as well as everything else:  "You get what you pay for."  It is worth paying the commission in order to be in compliance with regulations and have peace of mind, knowing it is the real estate company who accepts the liability, not the seller.  

Written by Barbara Doeringer

Posted in:Real Estate
Posted by Allen Doeringer on April 26th, 2016 10:48 AMPost a Comment

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