Just Because it’s a Sellers’ Market Does Not Mean You Should Sell on Your Own

Yes, it is true it is a sellers’ market more so than ever before and you might be tempted to try and sell your home on your own, especially when the inventory of homes is as low as it is today, and buyers are tempted to snatch up anything they can get their hands on, but we must urge against this.

Though it may seem like FSBO (For Sale by Owner) is the right way to go because selling your home seems to be like it will be a breeze, this could actually be a big mistake that will in turn cost you in the long run. You may be asking if it is such a risky venture selling your own home without a realtor why do people do it? The short answer is they do so to avoid paying a commission or fee to a realtor, but they don’t realize that even in a sellers’ market, selling your own home will most likely mean you will net a lower profit.

According to a NAR report:

“FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $217,900 in 2020. Agent-assisted homes sold for a median of $295,000”

That’s a lot of money left on the table if you go the FSBO route, and it is FAR more that what you would ever save on commission fees. Now why is there such a gap? Agents are trained in the market to know the best price to list your home, how to negotiate pricing, and have insider market insights that a homeowner wouldn’t have. Not to mention the stress that is alleviated having an agent on your side working to get you the best possible deal.

If you’re thinking of going the FSBO route, really consider what you could lose, talk to a professional and you will see the difference in what working with an experienced can do for you and your home!