Some homeowners, when they decide, it’s time to sell their home, seriously consider, whether they should use the services of a qualified, professional, licensed real estate agent, or, try, to sell it on their own, using what’s referred to, as, For Sale By Owner, often known as, a FSBO. In my over a decade, as a Real Estate Licensed Salesperson, in the State of New York, I have witnessed, when this occurs, and the corresponding reasoning, reasons, and considerations of these individuals. Most of them, have stated, if they opt for that approach, they feel, either they can do it themselves (and don’t need an agent), and/ or don’t want to pay commissions and/ or fees. This article will, therefore, briefly discuss and examine, 6 reasons to use an agent, rather than going, the FSBO, approach.
1. Studies/ statistics: Many organizations, including the National Association of Realtors (NAR) have examined the differences in results, between houses, sold through agents, versus those, doing it themselves. Not only, statistically, do agent – represented homes, get prices higher, by more than the commission paid, but, generally, get houses sold quicker.
2. Showing/ screening professionally: Since a real estate shows houses, for his living, doesn’t it make sense, his greater experience, will usually translate to, far more expertise, in terms of how well a house is shown, to potential buyers. In addition, agents have access to tools, which screen qualified buyers, from the ones, who are merely looking! In addition, agents have access to tools, such as the Multiple Listing Service, and networking/ promotion, which get a house, shown, more often. Remember, the more qualified views, the better the possibilities!
3. Objectivity: It’s often quite challenging, for someone, to evaluate and consider his home, objectively, and thus, a lack of this important ability, often harms one’s possibilities!
4. Pricing/ negotiating: Doesn’t it make sense, a professional, who has seen many of the competitive houses, in your local real estate market, might be better equipped and capable, of pricing the house, properly and to its best advantage. Houses priced properly, from the start, generally sell, faster, and at a better price. In addition, this knowledge, combined with experience and expertise, generally means, an agent, is better able to effectively negotiate, on your behalf!
5. Transaction process: The real estate transaction process, is often, somewhat complex, and/ or involved! If the paperwork is incomplete, or, in – error, it risks losing the sale!
6. Staging: Some homes benefit from staging, while others may not need this important process! Wouldn’t an agent, have a better handle, on whether it would make a difference, for the better?
If, statistically, agent – represented houses, sell for a higher price, in a shorter – period of time, and homeowners undergo less stress/ hassle, and an agent offers superior negotiating, advice and insight, doesn’t it make sense, for most home – sellers, to use an agent, rather than trying to do it, on their own? Hopefully, by knowing and better understanding more, and better, you will realize some of the shortcomings of the FSBO.