Should you list your home as For Sale by Owner (FSBO) or with a Real Estate Agent? Here are some the things to consider when selling your home.
When talking with homeowners who have decided to go the FSBO route, they will usually tell you that saving on commissions paid to REALTORS® is one of the biggest reasons they decide to sell on their own. And while that is certainly a valid point, you should know that, according to REALTOR® magazine, “FSBOs tend to sell their homes for lower prices than homes sold through traditional agents.” So you might save on commission, but you won’t get as much money for your house. Read more about the statistics of FSBOs by clicking here.
Property Value/Listing Price
The next question I usually ask is – How did you come up with the pricing for your FSBO? I hear so many answers, including: “we did our research and looked at the price per square foot” and ” that’s how much I wanted.”
As a real estate professional, I don’t just arbitrarily pick a price that sounds good. There’s a method to the pricing madness. Research, research, research! I can’t stress this enough. My value to you as a professional is in having in depth knowledge of costs per square foot and comparables on the market, and because of that I know when a home price is too low or too high to sell quickly.
Long story short here, do your research or ask an agent. I, for one, love to look at FSBO homes and help as much as possible. Let’s schedule an appointment to discuss how I can help you.
Photos/Staging
This is one of my favorite topics and I could stay on this for pages on end, but I won’t. 92% of people start their home search online, which means that the first impression MOST buyers get is from the photos on your listing. If you take photos of your FSBO after your family has come in and out of the house and there is clutter everywhere, it will detract from the beauty of your home and buyers may not even call to schedule a showing. You’ve got to get the in the home to sell them the home!
Marketing
How are you going to market your home if you decide to list on your own? The MLS (multiple listing service) is the best way to make sure your home gets exposure to agents and the public. There are websites that you can pay a flat fee to and they will publish your home on the MLS for you. However, just having it in the MLS or a sign in the front yard probably isn’t going to be all you need to do. As REALTORS®, we post it on multiple websites, social media sites, share with our office, and tell everyone we know about houses we have listed.
Open houses are also great for marketing – it opens your home for 2-3 hours on a weekend and allows anybody and everybody to stop by and see the house. This is a great way to allow neighbors, friends, potential buyers to see the property for themselves and pass along the word of this amazing home you’ve got for sale!
Time for Showings
You are going to need a lot of time to answer phone calls, texts and emails, not to mention having to be at home to show your FSBO. A REALTOR® will come whenever is best for you, but not all buyers have a flexible schedule. Additionally, how will you qualify buyers that want to come and see your home? As real estate professionals, we work with qualified buyers – we don’t waste time with individuals who may not be able to buy.
The Bottom Line: It makes the most sense to work with a REALTOR®
Working with a REALTOR® is your ticket for a smooth journey to selling your home quickly and for the highest price. The benefits are clear: from start to finish, we are on your side. We save you time, we provide real estate expertise and professionalism, and there is no immediate cost to you.
So, reach out, start a conversation with us and let us assist you in finding your perfect new home!