Did you know that FSBOs —homes that are For Sale by Owner — account for only about 8 percent of home sales? Or that many properties that start out as FSBOs end up being listed with and sold by a Realtor? Here’s why so many people sell their homes with the help of a real estate agent:
More exposure. Homes offered by owner get less exposure to home buyers, and in multiple offer situations, fewer bidders. The higher the number of bidders on a property and the more exposure a property gets, the better, when it comes to a home’s selling price.
Pricing assistance. A common mistake among those selling on their own is pricing their property too high or too low. A real estate agent is armed with information that can help you price your property right so that it sells quickly without leaving money on the table. So it’s not difficult to understand why the typical FSBO home sold for $185,000 compared with $240,000 for agent-assisted home sales. Real estate agents can be a tremendous help in setting the right listing price and helping home sellers get the most for their property.
Assistance with selling process. Real estate agents do many tasks other than simply helping you get the most money for your property. Agents manage all of the required paperwork involved in selling a home, help the seller determine things they should do before they list their home and during the listing process, and coordinate the other professionals involved in a home sale, such as an inspector and appraiser.