Right now in the Greater Daytona Beach area, real estate inventory is down. As a potential home seller, the big question is, is selling “Buy Owner” or FSBO smart? Let us share some important facts that every home seller should know.
National Association of REALTORS Statistics
- FSBOs accounted for 8% of home sales in 2015. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.
- FSBO methods used to market home: Yard sign: 33%
- Most difficult tasks for FSBO sellers: Getting the right price: 18%
Real estate agents jobs are to price your property right, marketing to anyone and everyone. The days of a news paper ad and yard signs being enough are over. Global marketing and MLS exposure is extremely important as 51% of home buyers found their home online. If you want top dollar, you’ll want to have global exposure.
Deciphering between buyers and lookers is important. REALTORS provide protection by pre-screening people, scheduling appointments and making sure people are pre-qualified to even step foot in your house.
Is it cost effective for you to market your own property? Many home sellers do not know the additional costs it takes to sell a property. Avoiding a commission could possibly reduce your selling price if the only people looking at your property are bargain hunters and lookers. Time on the market can drag out and cost you thousands.
Many real estate agents work directly with a mortgage person to get potential home buyers approved for a mortgage. This is the best way to keep lookers out and true home buyers in!
Lets talk paperwork. There is a mountain of paper work required to sell a property. Understanding contracts and real estate terminology can be quite confusing. If your paperwork isn’t right it can present problems in a transaction, including delays or having the transaction end before it truly begins.
Negotiations. Sure, anyone can negotiate but agents are trained at it. As a matter of fact, there are so many creative ways to negotiate a transaction that a home seller may not even think of, but an agent will!
While you can read and watch videos on how to sell a property, agents sell everyday. Some might say they are obsessed with the business but the truth is that being a real estate agent requires a lot of time and energy to assist buyers and sellers.
Always remember that there are no set times an agent works, agents often work more than the average person and provide a service for people to achieve the American Dream.
Have a property to sell? Ask us about our marketing plan and if you choose to sell For Sale By Owner, we wish you all the luck in the world!
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