Employing the services of a real estate agent can be a tremendous and reliable option for selling your home, but the cost of hiring an agent will detract from your profits. If you’re keen on making more money, cutting the middleman and selling your home as a FSBO (“For Sale By Owner”) is a process to consider.
How Much Will an Agent Cost You?
Most real estate agents will traditionally charge around 6% for a commission. For a typical FSBO home selling at $185,000—the average price, according to data from the National Association of Realtors (NAR)—6% will run you $11,000. Keeping this money in your pocket is one of the leading benefits of selling your home without an agent. There is also a more hidden cost to using an agent: while skilled at negotiation, a real estate agent can be more inclined to compromise the price of your home to secure the sale.
The Challenges of Selling It Yourself
Avoiding the commission cost and having the freedom to manage your negotiations are definite advantages to handling the sale of your home without a real estate agent, but going it alone creates its own set of challenges. Consider that homes sold by an agent net around $245,000, according to the NAR—$60,000 more than the average FSBO sale.
Furthermore, FSBO sellers face a more limited pool of buyers without the aid of an agent to bring in clients. And although you’re free to maintain your home’s target price, you’ll find that buyers who see your home without an agent will often expect a discount to account for the work required in facilitating the deal.
Finally, choosing to sell your home yourself misses out on some of the best services of a talented real estate agent. A great agent can advise you on home repairs, set a competitive price using current market data, schedule showings with potential buyers, and handle all the paperwork that you must otherwise do yourself. If nothing else, they’ll help you avoid a headache.
Lacking the resources and know-how can cut into a FSBO seller’s potential profits, diminishing the money you save off a real estate agent’s commission. This, coupled with the difficulty in finding buyers and the vast amount of work required when going it alone, suggests that enlisting a professional’s expertise can be a smart decision. If you’re savvy enough to manage your sale and determined to increase your profits, however, selling your home without the services of a real estate agent is a viable alternative.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/