Real Estate: It’s Still a Lack of Supply, Not a Lack of DemandOne of the big questions real estate professionals are asking these days is whether prospective homebuyers still believe
5 Reasons to Use a REALTOR® When Selling Your Home
Dated: August 15 2021
Selling your home yourself (also known as "for sale by owner" or FSBO) may seem like a great way to save thousands of dollars. After all, with low inventory and a large buyer pool, conditions are primed for a quick, highly profitable home sale. Selling a $200,000 home with a 6 % commission would cost $12,000! Anyone can sell their home in this market right? Well, not so fast, selling your home FSBO might not be all it's cracked up to be on the surface. Let's dig a little deeper, here are 5 reasons why using a realtor to sell your home is usually the best option:
1. Selling your home is a lot of work!
Being a real estate agent is a full time job for a reason. Here is just a small sample of tasks a realtor will take off of your plate when selling your home.
-Field calls and emails
-Schedule appointments and showings
-Host open houses
-Pro-actively market your property
-Do a market analysis to determine appropriate sales price
-Screen potential buyers
-Gather feedback to improve a home's marketabiltity
-Draft and prepare documents
-Communicate with appraisers, lenders, and title companies
There are a lot of moving pieces when selling a home. A great agent will be there to take on those tasks and make the process easier and less stressfull.
2. Keep Yourself Out of Legal Trouble
If you've ever bought or sold a home, you know there is a mountain of paperwork involved. The contract for purchase is just one small piece of that paperwork. Selling your home is a legal transaction. Without the proper knowledge of required forms and disclosures, you could potentially open yourself up to a lawsuit down the line. A realtor will ensure that all of the required documents are in place during the transaction and keep you out of hot water. Hiring an attorney to do the paperwork is an option, but of course you would have to pay them for their services while not receiving the numerous benefits that having an agent working for you provides.
3. Avoid Making Emotional Decisions
Selling your home can be an emotional process. For instance, selling a home that has sentimental value to you could cause you to over-price the home, killing potential buyer interest. Sellers have also been known to be reluctant to make small changes to their home simply because they like the way it is, in turn decreasing it's marketability. Being upset or offended by a buyer's requests or feedback can also cause a seller to make poor decisions. A good agent will be able to give constructive criticism and offer reasonable solutions throughout the selling process. Through experience and knowledge, your realtor will be able to advise as to the best course of action without your emotions getting in the way.
4. Keep Your Home and Personal Info Safe and Secure
How do you know who is coming into your home when selling FSBO? Short answer: you don't. Are they qualified to buy your home? Are their motives sincere? When you list with an agent, your home will be viewed through other agents who have not only been through a background check to obtain their license, but have also vetted the buyers they are bringing into your home. FSBO's can also be targets for scammers who might be looking to take advantage of someone not working with a professional. You could get stuck in a shady contract or unknowingly put your personal information in the hands of someone with bad intentions.
5. You'll Net More Money
The higher purchase price your home will bring by listing with an agent will almost always outweigh the commission you're paying that agent. Agents bring exposure to your home through marketing and networking. Roughly 89% of buyers work with an agent when buying a home. Those buyer's agents typically only look at FSBO's as a last resort. For starters, a buyer's agent will probably need to negotiate their commission with that FSBO before showing their buyer, in addition to holding the seller's hand through the process. Why go to that trouble if it's not necessary? Essentially you're pulling that huge portion of buyers out of the pool of buyers looking at your home. Less showings = less offers = less money. An agent will also be able to price your home correctly. Studies show that most FSBO's get their price from a website estimate of their home's value, which can be significatly lower than what the home could sell for. It would be like self-diagnosing a medical condition after googling your symptoms instead of seeing a doctor. The last thing you want to do in a red hot seller's market is price your home too low and drastically reduce it's exposure to buyers.
The expertise a realtor brings to the table when selling your home will lighten the work load, ease the stress, limit legal liability, and put more money in your pocket when it's all said and done. Saving a 3%-6% commission to do all the work yourself and potentially sell your home for 10%-20% less just doesn't make sense.
My name is Patrick Foresee and I'm a Realtor with 12 Stones NWA, Brokered by Exp Realty Rogers. I'd be honored to help guide you through the selling process. Call, text or email me anytime!
614 N 2nd Street, Ste D,
Rogers, AR 72756
I was born in Ft. Smith, Arkansas. I have lived in numerous states including Oklhaoma, New Mexico, and Illinois, and I can honestly say that Northwest Arkansas is the best place I’ve ever lived. The....
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Selling your home yourself (also known as "for sale by owner" or FSBO) may seem like a great way to save thousands of dollars. After all, with low inventory and a large buyer pool, conditions are
|Address:||614 N 2nd Street, Suite D
Rogers, AR 72756