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Think Again.
By: The Daigle Team
For every homebuyer, there is a seller. And for every seller, there is someone who has - however briefly - thought about selling his or her own real estate. In real estate circles, property listed by owners is referred to as "fizz-bo," the pronounciation of the acronym FSBO, which stands for "for sale by owner."
Obviously owners can and do sell their own property. There are Internet sites offering all manner of tips and suggestions designed to help you sell your home. But hints to sellers on how to spruce up a home to help it sell are usually good ideas for every seller - even those who elect to use a professional real estate agent. The fact that the do-it-yourself sites feel it necessary to have articles on "contingencies," "credit scoring," "locking-in interest rates," "buy downs" and "home inspections," speaks volumes about the need for a professional to handle your transaction.
Sellers deny themselves the benefit of using a real estate professional because they want to "save" money. If selling it yourself is such a good idea, why are FSBO transactions only 16 percent of home listings nationwide.
The National Association of Realtors (NAR) announced an advertising campaign recently in which they hope to persuade FSBOs to use a Realtor. The FSBO spot illustrates the convenience and expertise Realtors bring to complex transactions. It makes side-by-side comparisons between selling a home with and without Realtor expertise and lets viewers draw their own conclusions about which method is preferable.
Despite the sellers' markets in many locales and predictions the Internet would diminish the role of agents, a recent NAR study found the median selling price of a home sold directly by an owner was $113,000, while the median sales price of a home sold using an agent was $129,000.
What's even more telling, however, is that of those homeowners who did successfully sell their home without a professional's help, 50 percent vowed they would never do it again! They cited these complexities and hassles:
- holding open houses,
- arranging for appraisals and inspections,
- understanding and filing paperwork,
- helping buyers obtain financing and
- having time to do it
Again, it should be emphasized that it is possible to save commission costs by selling a home on your own or using discount firms. You must understand, however, the trade-offs involved. Namely, you deny yourself access to someone trained in real estate terminology and practices, which can be most advantageous.
Experienced real estate agents are able to provide up-to-date reports on comparable sales in your neighborhood. Because they work in the local market daily, they have a much better understanding of what is happening there and what financing options are available. If the agent is a Realtor, they can provide more exposure, via the Multiple Listing Service, than most homeowners can obtain on their own. In most cases, it takes less time to use a licensed real estate professional to sell your home.
Need help buying or selling. Call The Daigle Team today!
(409)893-1275 / 350-9622
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