Who Gets Better Results, FSBO or Realtor® ?
For Sale By Owner guru Colby Sambrotto founder of the largest website for home owner sales (ForSalebyOwner.com) ended up using a Realtor® after unsuccessfully trying to sell his own home for six months. According to the WSJ article the local real estate agent was successful in marketing the property with multiple offers and was able to closed $150,000 above the original asking price.
The 2013 National Association of REALTORS® Profile of Home Buyers and Sellers report shows that in 2013 FSBO’s accounted for 9% of home sales which has been steadily decreasing from a high of 14% in 2003.
The report shows that the typical FSBO home sold for $184,000 compared to $230,000 for agent assisted home sales. For the home seller that is an average gain for Realtor® assisted sales of $46,000 which more than covers a 5% or 6% commission (5% commission on $230,000 is $11,500, 6% commission on $230,000 is $13,800).
The report shows that FSBO methods used to market the home was relied over 60% of the time using yard signs and friends/relatives/neighbors for selling. The benefits of using a local professional Realtor® are shown in this report by using their experience, knowledge and ability to market the home. While a FSBO seller is like a single fisherman casting for fish, using a Realtor is like having a whole fleet of fishing boats who selectively will cull out the best offers and qualified buyers for a home seller.
A true life story from FSBO sellers in Des Moines, Iowa shares their experience as For-Sale-By-Owner and why after six months decided to hire a Realtor to successfully sell their home.
From the article here are some of the lessons learned are:
Homeowner become emotionally attached to their homes and become starry eyed on value of their home, a good Realtor® will talk you through the real numbers.
House sales is about numbers, the more people who can find your home the more likely you will sell. That is why listing the house is so valuable and with over a million Realtor® nationwide who are paid members of your local MLS. The seller will be able to attract many many more qualified buyers thus getting the best selling price for the market.
Your Realtor® is a professional who specializes in real estate and will earn their keep by assisting you with marketing, pricing, the offer/counteroffer, paperwork and inspection process.
The advice of an experienced local Realtor® can ultimately save you time and a lot of hassle, it is worth the commission paid.
Article written by David Popoff, Connecticut licensed real estate broker.
For local experienced real estate services in lower Fairfield County, Connecticut contact DMK Real Estate serving Greenwich, Stamford, Darien, Norwalk, New Canaan, Wilton, Westport and Fairfield.
Cell ~ 203-228-0646 www.DMKrealestate.com