By now, everyone is aware that we’re in a strong sellers market. Due to historically low interest rates and an unprecedented inventory shortage, sellers are getting more money for their homes, in a shorter amount of time than ever before. Seems like the perfect time to skip the Realtor®, save the commission, and sell your home yourself (FSBO), right?
I speak to FSBO sellers all day, every day, and there are several reasons that, after our conversations, most of them choose to list their homes with us, rather than going it alone.
1 – Home Prep
Our team pores through listings on a daily basis. We’ve seen it all, and we know which homes will best catch the attention of buyers, and what buyers expect from homes when they are paying a premium. From personal art choices to wall color, landscaping, and even furniture layout, all of these items contribute to the buyer experience, and whether a buyer will even step foot into your home. Prepping your home for sale without expert advice may lead you to invest time and money in the wrong things. Ultimately, this can affect your bottom line at the time of sale.
2 – Pricing Strategy
Realtors® have dozens of market tools at our disposal that range from national trends to hyper-local data telling us what buyers are looking for, and what will drive prices up or encourage multiple bids. Pricing a home too high will scare away buyers who have become savvy in this market as they’ve likely submitted contracts for several homes. It can also lead to problems during appraisal. Pricing too low means you might be leaving money on the table, or attracting buyers who may not be able to close on the home. And keep in mind – while lower pricing will attract MORE buyers, it will also attract more contracts that YOU have to pore through. A realtor will compare every point of a deal, from price to inspection period, qualifying the lender, checking the possession date, and even vetting the cooperating realtor. Doing this on your own can be frustrating and take up hours of your time.
3 – Getting the Home in Front of More Buyers
FSBOs actually net less profit than sellers who use an agent. In fact, in 2020 FSBO sellers sold their homes for 6% less on average when compared to sellers who used a REALTOR. Why take on all the extra work, risk, and liability without any additional net income? Realtors with a solid, proven marketing strategy can get your home in front of more buyers, faster. The more buyers that view a home, the more contracts you’re likely to receive, driving up your price.
4 – Negotiations
Buyers, buyers agents, inspectors, lenders, appraisers. These are just a few of the new people who will enter your life during a real estate transaction, and every single one of these individuals is working AGAINST you and FOR the buyer. They are all trying to get the best deal for the buyer. Having an agent on your side to not only hold all of these parties accountable to the terms of the deal, but to keep the deal moving along and get to closing, puts you at a great advantage financially. And again, navigating the process with all of these people takes a ton of time.
5 – Navigating the Legal Issues Through Closing
In the State of Florida, there is one proven contract for selling residential property. This contract (the FAR/BAR “AS IS” Contract) contains 618 lines of fine print. With supplements such as HOA disclosures, seller’s disclosures, and lender or appraisal riders, there can be thousands of lines of legal text to read and interpret. We know these contracts and their supplements forwards and backwards. While we’re not attorneys and do not provide legal advice, we do understand completely these contracts and the implications and obligations in every single line. If this is your first time selling, it can be difficult to know all of the terms and requirements. Your agent can guide you and help you avoid potential missteps that can not only cause legal problems, but can affect your bottom line.
Selling and closing on a home is a huge responsibility. It takes a ton of time and requires a huge amount of effort and expertise. Before you decide to go it alone, give me a call or get in touch with me here. I’m happy to walk you through the process, and if you still decide to sell without an agent, I’ll give you some tips to help you steer clear of hurdles and get the most out of your investment – free of charge.
Check out my newest listing for an idea of what the right marketing plan can do for your home!
Looking to buy? Get pre-approved with a lender who will be in constant communication with you and your Realtor®. After years of working with many different lenders, our team has partnered with America’s Money Source so that our buyers have access to the best lending team possible.