At first glance, FSBO, or selling a home without a real estate agent, seems like a great idea. Who wouldn’t prefer to avoid agent fees? Nonetheless, there is more involved in selling a home than most people realize, which makes an expert to help you navigate the home selling process a worthwhile asset.
1. Endless negotiations
Here is a list of some of the individuals with whom you must negotiate with if you decide to go with For Sale By Owner:
- The buyer who wants the best possible deal, and is specifically looking at FSBOs to save the same money that you intend to save.
- The buyer’s agent, who exclusively represents the best interest of the buyer.
- Home inspection companies that work for the buyer (and typically find something wrong with the home)
- The appraiser if there is a discrepancy between the calculated value and asking price.
An experienced agent has local connections. They talk to other agents to find out which potential buyers are looking for a home like yours.
A successful sale is contingent on a successful marketing plan. Sellers with an agent don’t have to come up with, or orchestrate a marketing plan.
Skilled agents know who to contact, the best websites to list homes on, and which local social media accounts should feature your home.
Real estate agents also know the right professionals to stage the house, take photos, and create a 3D tour.
Additionally, a seller doing a FSBO likely doesn’t have the existing audience an agent has on their website, YouTube, and social media channels. On top of that, many agents also leverage the power of SEO (Search Engine Optimization) and Google and Facebook ads in order to specifically target audiences in the market to buy a home in your area.
3. FSBO has become more difficult
The paperwork involved in selling and buying a home has increased considerably due to industry disclosures and regulations becoming mandatory.
Selling a home also involves a variety of complex legal processes. There is a seemingly endless amount of documents to sign, and COVID has added to the workload. Real estate agents understand how to best handle all of these forms, and can help prevent you from signing something that is not in your best interest.
4. An experienced agent nets you more money than FSBO
Most homeowners considering FSBO understandably believe they will save money by not having to pay an agent’s commission.
However, FSBO homes attract a certain type of buyer. They also want to save the agent’s commission. Unfortunately, not everyone can win in this situation. A buyer and seller can’t both save the same commission.
Before being committed to FSBO, meet up with a real estate pro in your market and see what they can offer you!
Luxury Fire Island Homes – Why Should You Sell Your Home With Us
Luxury Fire Island Homes, formerly known as Fire Island Homes, is a full service real estate agency located in Fire Island, NY. We offer rental, sale, investment and property management (coming soon) services. Laura and Brian Smith, Fire Island residents, ran Fire Island Homes for over 20 years. They merged with Sydney and Susan McCoy, owners of The Real McCoy Team – Your Home Sold Guaranteed, a residential real estate team located in Long Island, NY. The Smith and McCoy family have combined forces – resulting in the largest real estate brokerage in Fire Island. With thousands of buyers in their databases, 60 years of combined real estate experience in Long Island and Fire Island, innovative marketing approaches, and value-driven ideals, Luxury Fire Island Homes is your one-stop shop for all your real estate needs.