Why you should hire a Realtor instead of selling FSBO
When it’s time to sell your home you’ll always be faced with that age old question: “Should I for-sale-by-owner or hire a Realtor?”. In truth, the for-sale-by-owner (FSBO) approach is becoming pretty popular. This is partly because of the huge DIY movement combined with sites like Zillow that make it easier for homeowners to put their own houses on the market. However, just because something is increasing in popularity doesn’t necessarily mean it’s the best route to take.
If you were building a home, you might face a question like “should I build my own home from scratch or hire professional contractors?”. Of course you would want to hire professional contractors. It would save you time, wasted money, and ensure the job is done properly. These are many of the same reasons why you should call a realtor instead of taking the FSBO route.
Increased Pool Of Qualified Buyers.
When you choose to sell your own home, you don’t have many tools for verifying the legitimacy of a potential buyer. Even if the tools are available, using them typically requires that you expend a significant amount of money and time. Professional Realtors have a wide range of tools and networking relationships at their disposal, and they tend to know exactly what to do or who to contact to verify if a potential buyer is capable of buying a home at the available price.
The Realtor will always ask that the buyer consult with a reputable lender who can obtain financial documents to determine the buyer’s overall credit-worthiness and ability to obtain a mortgage. If they are making a cash offer, the Realtor has the ability to network with a financial specialist who can verify if the funds are legitimate and where they are coming from. This means that deals are less likely to fall apart once they reach the contract stage.
Expertise, Experience, And Data.
Professional Realtors come armed with expertise, experience, and market data. All three of these things will help ensure that you price your home right and get the best offers in a timely manner. That is likely why, on average, homes sold by Realtors sell for higher prices and spend less days on the market than homes sold by the owner.
Some important market data that Realtors use includes specifics regarding previous sales in the local area. This includes the asking price, sales price and days on the market, as well as other important factors such as whether the home was a foreclosure, short sale or traditional sale. This market data is often used to assist you in properly pricing your home for the market. A home that is priced in the appropriate range when first listed is likely to sell quicker than one that is priced to high, reducing your chances of sitting stagnant in the market for some time.
Experience and expertise are perhaps the most valuable assets that a professional Realtor will bring to the table. An experienced Realtor can guide you toward preparing your home for sales and overcoming any obstacles, such as inspection concerns, in a cost effective and expeditious manner. They have more contacts, more associates and can reach more buyers through systems like the MLS who might be interested in your home. Realtors can market your property on a much larger scale and with much less effort than you can when going it alone.
Finally, there’s the simple matter of convenience for both you and the buyer. Buyers prefer to visit homes without the owners present, but it’s difficult to make that happen with a FSBO property. It also means the Realtor can show the home when you aren’t available, thus keeping your schedule free from interference.
While it might seem convenient and cost effective to try the FSBO route when selling your home, the truth is, you’re more likely to sell quickly and get closer to your asking price by hiring a reputable Realtor. These professionals have made a career of selling homes, and their reputation depends on your satisfaction and their continued success. Put your home in the hands of a professional, and you just might find that you’re turning the keys over to a new owner sooner than you ever anticipated.
About the Author
Patrick Rogers runs Asurent Property Management based out of Medford Oregon. If you are needing property management services in that area, you can learn more at MedfordPropertyManagement.com.