Sale By Owner (FSBO) vs. a
Many people are making the choice
to sell their homes themselves.
While it is said that this method
of home sales can save owner
money in commission fees, it
should be noted that usually the
money saved in commission is
spent in other areas. Typically
an agent's commission for a home
sale is approximately 5-7%.
However what many people do not
realize is that it will cost them
at least that to see that their
home closes properly. There are
many costs about which the
average home owner does not know
that are covered in the sales
process by a realtor.
The sale of a home is a major
undertaking. It is kind of like
taking on a second full time job.
The marketing of a home itself
can be a costly and time
consuming process. A realtor has
a great selection of tools when
it comes to marketing a home.
Usually they will have a
previously established web
presence. This is vital in
ensuring that your home receives
proper coverage and exposure. The
first time that many prospective
buyers see your home will be on
the internet, not only on the
realtor's site but on the local
MLS as well. This is one aspect
that is difficult to achieve when
selling a home yourself. Realtors
also have the advantage of being
able to take out full page color
ads in the local newspapers to
showcase their listings and often
at reduced rates.
The main area where a realtor's
training and experience comes
into play is during the contract
negotiations and execution
phases. Agents are trained in the
proper execution of contracts and
all aspects of closing a home
sale. This part of the selling
procedure can be extremely
confusing and expensive. There
are numerous lawyers or escrow
and notary costs that can easily
inflate a sellers cost beyond the
small saving on commission. Also,
consider the fact that a large
percentage of people who attempt
to sell their homes on their own,
eventually end up listing with an
agent when their home does not
draw the necessary attention to
sell in a timely manner. Add to
this the fact that homes sold
with an agent typically close for
over 20 thousand dollars more
than homes sold by owners.
Considering all these facts,
having an agent becomes a fairly
attractive proposition. Remember,
it is likely that a professional
agent will be able to dedicate
more time to the sale of your
home than you can. After all, you
have to work yourself, and for an
agent, selling homes is their
full time job.
Be sure to visit these other
helpful real estate resources:
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