August 23rd, 2017
Before You FSBO, Call an Agent
Traditionally, there have always been significant pros to using a real estate agent rather than going the for-sale-by-owner, FSBO, route when selling a home.
A recent study by Collateral Analytics states that FSBOs tend to sell their homes for lower prices than homes sold through traditional agents via the MLS, and in many cases below the average differential represented by the prevailing commission rate. A FSBO sale, on average, nets nearly a 6 percent lower price than an MLS sale for a similar property.
The research studied the price changes between homes sold through real estate agents versus those sold by FSBOs from 2016 to the first half of 2017. Although most for-sale-by-owner sellers attempt to avoid the commission costs from using an agent, that can backfire and turn into a much lower sales price. Without a traditional real estate agent’s knowledge and resources, it is more difficult for sellers to price a house appropriately and get through the process without an issue.
It may seem like it would be less complicated to sell your home on your own as a FSBO and cut out the middle man, using a full-service agent to help you list it will allow you to worry less throughout the process.
“You can sit back and let the agent drive the marketing plan, help negotiate with the various parties involved, and secure the highest possible price for your home,” said Mike Thornburg, Broker in Charge of Helen Adams Realty’s Lake Norman office.
In order to accurately price and list your house and get the most possible exposure, going through a traditional real estate agent could be the best option. Agents at Helen Adams Realty can meet with a seller and offer a Comparable Market Analysis and discuss the market activity around the potential listing.
To get the most accurate estimate of your home’s value, contact one of our experienced agents who live and work in the communities we serve and have a deep understanding of the local market.
For more information, read the REALTOR® Mag article this blog is based on.