Thinking of selling FSBO? 5 Reasons to hire a realtor

Are you considering selling your home? With a feverous seller's market ,and the aid of apps like Zillow, it's easy to think a home pretty much sells itself. While sellers currently have several great advantages at their disposal, here are 5 reasons why you still may want to seek the help of a real estate professional.

1. You are costing yourself money. There is a misconception that selling your home solo will help save you money. Research done in 2015 showed that for sale by owner (FSBO) homes sold for 16% less compared to agent assisted sales. While attempting to save money by cutting out an agent, a homeowner selling their own property may be sacrificing neighborhood market knowledge, marketing strategies and negotiating skills that an agent can provide. Spending a little money to work with a real estate professional is often a great investment in maximizing the sale of your home.

2.You open yourself up to liability and Scams. Without professional help, buyers and sellers can open themselves up to scams like fraudulent paperwork, bad checks, wire fraud, and releasing unnecessary personal information. Agents also carry errors and omissions (E&O) insurance to cover themselves if something is misrepresented (think hardwood floors vs laminate or bedroom count) or if there is an error in the documentation process. Sellers without E&O burden the cost of any litigation themselves.

3. Do you know what it takes? The process of selling a home is often more detailed and extensive than our favorite TV shows lead us to believe. For a quick and efficient sale, are you prepared for the many steps required prior to listing and all the way thru closing day. These include: property valuation, pricing strategy, staging and (possible) repairs/updates, professional photography and videography, preparing disclosures, MLS input, showing coordination and lead follow up, negotiation and offer acceptance, earnest money deposit collection, home inspection and appraisal. It can be a bit overwhelming if you are not prepared

4. Representation is critical. Imagine the following situation, you listed your home on your own. Your priced the house correctly and after a few showings you received an offer, shortly after you come to an agreement. Congrats! A few days later during the inspection the inspector notes that the stairs are too steep and not up to today’s code. The buyer now asks you for $15,000 off of the contract price to rebuild the stairs, what do you do? A real estate professional would tell you that you do not have to pay to replace the stairs if they were up to code at the time when the house was initially built. Hopefully you have someone in your corner looking out for you!

5. Your time is valuable. In 2017, 70% of sellers who initially tried to sell their home on their own, ended up hiring a real estate professional. 18% of FSBO’s admit they did not sell their in their desired timeframe. Do it right the first time. Hire an outstanding agent, and allow yourself to move on to the next chapter of your life.