4 Reasons to Rethink FSBO

As a homeowner, you know your home best. So, when it comes to selling, who could do it better than you, right? While we agree with you on the first statement, the selling of a home is always best left to a professional real estate agent, for so many reasons!

Reason #1: You could be leaving money on the table.

According to a NAR study, For Sale By Owner homes sold at a median of $260,000 in 2021, while agent sold homes were at a median of $318,000, a difference of $58,000. The typical real estate commission on that home would be $22,260, so you could be losing out on over $35,000!

Reason #2: Real Estate Agents Provide Errors & Omissions (E&O) Insurance

You could draft the contracts yourself if you are a skilled litigator, or have a lawyer draft contracts for you, but neither of those options provide Errors & Omissions Insurance. This protects the selling party in the case of any errors or omissions during the selling process that led to a defaulted contract. Say you incorrectly calculate the lot your home is sitting on, or the square footage of your house. The new owners discover this and decide to sue over the value of the home, feeling it is worth considerably less. As the seller, you would likely be found liable, and without insurance, this could be a costly lesson.

Reason #3: Advertising your home

In today’s digital age, there are places for homeowners to list their own homes for sale. But those websites can often be difficult to navigate and without an expert to assist, you are on your own for advertising your home. Real estate agents are part of a network of agents and will distribute your listing to sometimes hundreds of websites nearly instantly, and many have multiple step marketing strategies to get the word out to various audiences. This will insure the most eyes on your home so you can leverage that into showings, offers and eventually the right buyer.

Reason #4: Coordinating Showings, Reviewing Offers and Conducting Negotiations

In today’s seller’s market, it is not unusual to see homes receive huge numbers of showing requests right away. As a homeowner this can be really overwhelming to coordinate that many strangers coming into your home, plus creating a secure process for this to occur is often frustrating and stressful. Real estate agents have this process in place already and will help assist in scheduling showings and being present if needed so you can focus on your family, finding your new home, work, or whatever you need. Multiple offer situations are also common, and it can be hard to determine the best offer when they all sound similar. An agent can help talk you through the offers so that you can pick the best fit for your needs.

Ready to contact a REALTOR® to sell your home? Reach out to one of our agents today!