When looking to sell real estate, one of the first questions one asks is, “Should I use a real estate agent?”
While it might be tempting to forgo an agent in order to save money, and people often think “How much do they really do anyway?”- using a real estate agent could be one of the best choices you make in your future home sales, and we aren’t just being biased.
Statistics show that selling your home with the help of a real estate professional will get you a higher profit in the end – enough to cover the commission as well as put more money in your pocket. According to the National Association of Realtors (NAR), in 2017, “for sale by owner” (also known as FSBO) homes accounted for only 7% of home sales. On top of that, the average FSBO home sold for $200,000, compared to $265,500 for agent assisted home sales (www.nar.realtor). That’s a $65,500 difference!
Though marketing and selling your home may seem like a breeze, there is actually a lot of work and thought that go into what real estate professionals do. Here are three main points to consider when debating on whether you should sell your home FSBO or use a real estate agent:
- First off there is setting a price for your home. When you do this yourself, you run the danger of either 1) setting the price to low, therefore cutting the earnings you could have potentially made, or 2) setting the price too high and having your home sit on the market for FAR too long, which makes the home look bad and will make buyers hesitant about it when you drop the price later on.
These two things often happen because those who put their homes on the market as FSBO try to use an online assessment tool to gage their home price, which are not reliable, or go off what neighbors claim they were offered. The real estate market varies and changes constantly, and when you use an agent to sell your home, you are getting someone who works in the fluctuating market on a daily basis. They will have the best knowledge and experience to price your home at just the right spot to ensure you get the most for your home.
- Another issue with doing a FSBO is that marketing your home is not as easy as it looks. You may have it on a few social media sites and listing websites, however, your home is unlikely to get the amount of exposure it needs – the amount it gets with a real estate agency – without using an agent.
For example, as opposed to a few websites when listing a home FSBO, when a seller lists their home with the Kathleen Yamauchi Group, we market their home in all of the following ways: professional photography, distinctive signage, short message service (SMS) sign riders, our website kathleeny.com, matterport 3D video tours, print in Homes and Land Magazine, print in Prescott Woman Magazine, realtor.com, zillow.com, trulia.com, tourfactory.com, homesandland.com, listhub.com, point2.com, Instagram, Pinterest, Facebook, and the multiple listing services (MLS) in both Prescott and Phoenix.
When it comes to people marketing their home on their own, or with us, there is no comparison. We want your home to be exposed and viewable in as many places as possible to ensure we find a buyer, and we do everything we can to do that because we want to help you!
- Lastly, one of the main reasons to use a real estate agent over listing your home as FSBO is the paperwork. Unless you have a background in contracts or law, this part of the transaction tends to get tricky. While every transaction has a contract, there can also be counter offers, the HOA Addendum, Lead Based Paint Disclosure, Seller Disclosures, any Addendums to change contract terms, Solar Lease Addendum, Buyer Contingency Addendum, Additional Clause Addendum, and more. Every transaction is different and you never know what you might need, but you will want to make sure that you are covered legally on every aspect of selling your home. If you use an agent, they will take care of everything for you, explain everything to you, and all you have to do is sign when you’re ready. This will help you avoid any liability and makes sure you will not open yourself up to any future lawsuits.
At the Kathleen Yamauchi Group, we seek to do all of the above for you and more! We want to make your real estate transaction as easy, stress-free, and painless as possible. We put your needs first, seek your best interest, and strive to remain a level of professionalism above reproach. With over fifty years of collective real estate experience, hearts that seek to help our client’s dreams come true and to continually improve ourselves, and a kindness and character that far outweigh the rest, you will not be disappointed with us.
If you’re interested in selling your home or looking to buy, check out our website at kathleeny.com, or give us a call at 928-771-1111. You could even stop by our office at 600 E. Gurley St, Suite A. We are open Mon-Sat from 9AM-5PM and Sunday from 11AM-3PM. We would love to talk to you, get to know you, and see how we can help you with your next real estate adventure!