I’m here to set the record straight about a particular four letter word that gets us people in the real estate industry a bit frazzled – FSBO. Thinking about putting your home on the market for sale by owner? Before any impulsive decisions are made, get educated on the facts that debunk the myths.
Myth #1: FSBO puts more cash in the seller’s wallet at the end of the day
Truth: Okay, so this is a reasonable initial assumption, but take a look at the bigger picture. While you may save some money on Realtor fees, you will likely not get the full value for your home. A licensed Realtor has knowledge of your community, competition in the area and prospective buyers to offer a realistic picture of where your home should be priced to sell. Additionally, they will negotiate offers for you to ensure that you are happy with the outcome. According to NAR, the typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales.
Myth #2: The rise of the Internet has made it easy for any individual to list and market their home
Truth: Sure, anyone can throw information about their house on a website or social media, however this alone doesn’t cut it. Today’s Realtors are expanding their networks to thousands of previous clients and referrals through social networking sites and eMarketing campaigns, but they also have the resources to develop professional printed materials with quality photographs of your home. Also, don’t underestimate the value of a brokerage’s internal network. Word of mouth between two Realtors can be all you need to pull off a sale.
Myth #3: Selling your home isn’t THAT time consuming
Truth: One missed call, text or email can be detrimental to the sale of your home. Realtors alleviate the stress and time commitment involved to show your home as much as possible to make sure that you are getting as many offers as possible. Diligent follow up is essential and your Realtor will also be sure to provide feedback from each showing so that you will know how your home is being perceived and what may need to be tweaked to get your home sold faster and for the highest amount possible.
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