Selling Without a Realtor®: Is it Worth the Risk?
Maybe It's Time To Rethink Things.
1. You'll Likely Walk Away With Less Money
According to data gathered by Collateral Analytics, the National Association of Realtors (NAR), and Clever Real Estate, homes listed with an agent sell an average of 16% higher than those sold FSBO.
2. Limited Exposure
FSBO listings often lack the exposure that properties listed through real estate agents receive. Real estate agents have access to multiple listing services (MLS) and various marketing channels that FSBO sellers might not have access to, limiting the pool of potential buyers.
3. Lack of Knowledge & Resources To Home Prep
Before listing a home for sale, several crucial steps must be taken to ensure optimal returns. These steps encompass, but are not limited to: staging, painting, neutralizing the interior by removing family photos and memorabilia, carpet cleaning, decluttering, landscaping, minor repair work and more. Ensuring your home is inviting is crucial. Unfortunately, inexperienced sellers may inadvertently neglect these essential tasks, potentially resulting in a lack of interest from potential buyers.
4. Negotiation Expertise
Experienced real estate agents possess negotiation skills that can be invaluable during the selling process. FSBO sellers may lack the expertise needed to secure the best possible deal.
5. Time Commitment and Effort
Selling a home and ensuring a smooth transaction demands considerable time and dedication. It involves a multitude of tasks, including marketing the property, attending inspections, assessing potential buyers, coordinating showings, liaising with attorneys, managing paperwork, finalizing permits, and addressing building department requirements. Achieving a successful deal requires substantial effort. With nearly 500 transactions under our belt, we've accumulated valuable expertise and have access to a range of efficient tools and resources. Despite these advantages, each transaction still demands an average of 60 hours of our time. Our objective throughout is to leave no detail overlooked, striving for a streamlined and efficient process from start to finish.
6. Legal Risks
Real estate transactions come with a myriad of legal and financial complexities. From understanding contract terms to navigating disclosure requirements, there's ample room for errors that could land you in legal trouble or cost you financially down the line. Realtors® are trained to handle these intricacies and protect your interests throughout the process.
7. Delays and knowing next steps
Once our buyers or sellers have an accepted offer, we initiate a sequence of actions to ensure that the transaction progresses smoothly. Our extensive experience in real estate enables us to take appropriate steps to keep the process moving. However, in the case of FSBO sellers, there is a risk of a deal stalling due to lack of expertise. Real estate transactions are complex, involving numerous tasks that need to be completed. Not knowing what to do next can result in delays up to weeks or deals falling through.