FSBO ( For Sale By Owner) vs. Real Estate Agent

FSBO ( For Sale By Owner) vs. Real Estate Agent

"Should I sell my property myself or hire a professional"?
"Why pay a commission when I can pocket the money"?
"What can an agent do that I can't do"?
"I can do a better job than an agent."

These are just some of the common questions homeowners will ask themselves before trying to sell their home. Just to be clear, FSBO (pronounced "fizbo") are homeowners that try or do sell their home without a Real Estate agent.

Here are some Pros and Cons to trying to sell your home on your own versus hiring a professional to do it for you.

Pros

• Of course, you get to keep all the money, and you don't have to pay the agent's commission. This number can vary, but typically it is around 3% - 6%. This is the number 1 reason a homeowner will choose FSBO.
• You are in control, and everything is solely on you.
• You know your home better than any other person could. You know every little nook and cranny in the house. You might even know more details about the house that an agent might overlook or forget.

Cons

• FSBOs don't have access to the MLS. They will typically have to find their own marketing strategies. a Realtor can put your home on a bigger platform.
• An FSBO might not have the time on their hands to show the property to every potential buyer. If your not a stay at home parent, working from home or you may be in between jobs, this can be a huge problem.
• If a seller doesn't know the ins and outs to the legal side of things, you could be setting yourself up for a lawsuit. The agent can help assist you in this case.
• An FSBO would have to do all the negotiations. If you are an introvert or not too good in the negotiating area and counteroffers, you could lose a lot of money or the sale.
• Depending on the price point of your home, which is typically on the lower end, FSBO might be a good idea. I feel that a licensed knowledgable agent would be better. According to NAR,89% of buyers buy their home through an agent. Also, according to NAR, you get more money for the sale of your home using a Realtor, usually at a minimum of 13% or more. The time it takes to sell your home can be on an average of 20 days difference.

So let a licensed professional help ease the process of selling your home and stop trying to cut everyone out. Get it done right, and you will be thanking yourself for this later.

Call me today to talk about selling your home.