People are getting smarter and technology is getting better. This certainly makes way for consumers to begin wanting to do things on their own and skip the middleman (or REALTOR® in our case). The main reason most want to try to sell their home on their own is because they do not want to pay the commission to an agent. Here are some points as to why that should not be a deciding factor in how you decide to list your home:
- You usually end up paying a real estate agent anyway. These days, it is hard to find a buyer that is not already working with a real estate agent. Typically, in order to get the buyers in the door-you have to be willing to work with real estate agents.
- Don’t you want your home to get the most visibility? Selling your home on your own only gives you the chance to put it on free sites and maybe social media if you’re on that. At NextHome, we have the capability to list a home on hundreds of sites so the home gets the most visibility, not to mention the MLS (multiple listing service) that all agents use to put homes on the market. It is the first place agents go to find homes directly for their clients.
- How do you know what price to put on your home? Part of a real estate agent’s job is to complete an analysis and look at several different numbers and factors that go into pricing your home (not just what Zillow tells you). If you overprice your home, you won’t have any buyers and will get stuck with your home just sitting on the market. If you under-price your home, you are cheating yourself out of money.
- Real estate agents know what buyers are looking for. Usually, if the agent is working with a home seller, they are also working with home buyers. This gives you as a seller an advantage when it comes to staging, photos, descriptions, and so much more!
- The paperwork in real estate is outrageous! Doing it on your own or even going up against a buyer’s agent on your own is not ideal. Having an agent along the way to explain and work on your behalf is just the beginning on how smooth and easy they should make the transaction and selling process go.
- Most people think listing the house on their own will save them time. Actually it is quite the opposite in most cases. Everything is going to be done by the agent when you are working with one. If you are on your own-that is just it-it’s only you. Even if you hire someone such as an attorney to help you with paperwork or a photographer for your photos-it all is then on their time and you are waiting on them to complete their part before you can even begin with the next step.
- Selling the home quick is always the goal, right? Well, on average selling a home on your own as FSBO (for sale by owner) takes 19 days longer than if it were listed with an agent.
- According to NAR, if a typical FSBO home sells for $200,000, while a typical home sold by an agent sells for $265,500. That adds up to homes sold by agents getting an average of 23% more than FSBO sales. This shows the difference that a REALTOR® can make in many areas in how to sell your home (not just pricing strategies).
- According to NAR, over a third of people who listed FSBO ended up using a real estate agent anyway.
- YOU get to choose your agent. They each are unique and offer different things as a part of what they charge as their commission. It is just part of it! Why do something on your own when a real estate agent has to go through so much training and licensing to do what they do? That should speak to the importance of hiring a REALTOR®.
Ready to sell your home yet? Check out our selling page for information on the process.
Contact one of our licensed REALTORS® to help you get started!