7 Reasons Why You Should Avoid For Sale By Owner Infographic
Selling a house is no easy feat. There are many guidelines to follow, documents to sign, and inspections to have completed. Having a real estate agent is a no brainer for most but there are some brave hearts who go at it alone. The solo journey, however, is a tough one to embark on. ( Scroll to the bottom to see a For Sale By Owner Infographic we created )
An estimated 89% of home owners sell their houses with the help of a real estate agent. That leaves 11% of homeowners listing their homes on their own. Although a reason for listing a home without an agent might be in order to save money, there are so many advantages to listing with an agent. Here are our top 7 reasons why you should avoid selling a home on your own.
Exposure to Prospective Buyers- An estimated 88% of home buyers utilize an agent when purchasing a property. Those agents are likely to work with agents representing properties to find the perfect home for their clients. It is a common practice for agents representing home buyers to look at various homes before the homes are even officially on the market. A home seller working with an agent will find navigating the network of agents much easier. This will bring much more exposure to the property that it would not have otherwise.
You Make More Money- According to The National Association of Realtors, “The typical for sale by owner home sold for $185,000 compared to $245,000 among agent assisted home sales.” Agents know how to better price the property to get the maximum profit on it. In addition to that, the agent can also assist in making small changes on the house to get the maximum value out of it.
Agents Are Buffers- There are so many intricate parts to selling a home. Negotiating with home buyers, reading through piles of paperwork, and dealing with contractors are all done better when you have an agent working on your behalf.
Neighborhood Knowledge- Most of us believe we know our neighborhoods pretty well. Street names, shop locations, and the neighbors across the street are all part of neighborhood knowledge. But when you’re selling a house, you need a different type of neighborhood knowledge. The value of homes in the neighborhood, how many homes are listed that are similar to yours, the average length of time the homes in the neighborhood sit on the market are all very useful things to know in order to list your home at the right time and at the right price. A great agent will know this and much more so that you can get the best out of your selling experience.
Marketing Advantages- These days, making flyers of your home for sale or taking out an ad in the local paper simply doesn’t cut it. There are so many various marketing techniques agents utilize in order to sell your property. Cutting edge social media marketing and property video tours are very common practices that would be fairly difficult to execute for the average home seller looking to do all the work themselves.
Professional Networking- The average real estate agent has a professional network that extends beyond other agents. There are lawyers, contractors, photographers, stagers, loan officers, and more in their extensive network. If at any stage of the home selling process you need any of these services, the agent can easily refer you to a trusted professional they have likely worked with previously.
FSBoing Has Become More Difficult- The home selling process is more complicated than ever. Even with the help of social media marketing, it is a difficult process to go through without having an expert on your side. Whether your goal is to sell your property quickly or for as much profit as possible, an experienced agent will help you navigate each step to get you to your goal.
Here is a For Sale By Infographic We Created to help see things easier