It’s a seller’s market, there isn’t much inventory available, homes are selling in a day! That is all true. So, why should a seller use a professional real estate agent? You may be thinking, “I’ll sell it on my own, it can’t be that difficult.” Let’s discuss some reasons you should consider before you decide to go the FSBO (for sale by owner) route.
While FSBO may seem tempting, in most cases, the risks of going it alone will likely outweigh the benefits.
The top five risks are:
* Finding qualifies buyers. Agents pre-screen buyers to assure that they have the funds and are “Real.” If a buyer is not pre-approved and can’t get the financing from a bank, it doesn’t matter what they offer.
* Avoid making emotional decisions. Selling your home is an emotional process. Having an agent buffer you, an agent helps you avoid emotional mistakes such as becoming offended by a buyer’s comments or their low offers. A realtor can follow up in a non-personal and professional way.
*Proper negotiations and reviewing multiple offers. Realtors have the knowledge and experience to work with offers and other agents to get the most money in your pocket. They also have the expertise to sort through multiple offers and determine which one is truly the best one to accept. Offers may contain numerous contingencies or stipulations that could dramatically affect the bottom line or cause the deal to blow up. That would put you back on the market, having possibly lost quite a bit of time and money (carrying costs).
*Not understanding what sells or ignoring your home’s flaws. Agents know what sells. They can walk you through your home and point out changes you should make to attract buyers and get the best offers. They may see flaws that you have become accustomed to. Quite often agents will advise you to not make a costly improvement where you would likely not get the return for your money.
Exposure to legal risks. Selling a home involves a lot of complicated paperwork, if not completed and filled out properly such as the Property Disclosures could put the seller in a position of being held liable for fraud, negligence, or breach of contract. If they do not disclose something such as a hazard nuisance, or defect—and the buyer comes back to you after having moved in and found a problem—the buyer could sue you.
Selling your home will likely be the largest transaction of your life. Hiring an Agent brings many advantages to the table. Agents can attract and screen to assure you have qualified buyers. They can provide broader exposure for your property through marketing. Agents will help prevent emotions from sabotaging a deal and negotiate the best deal for you. They will also put you in the best position to sell your home because they know what buyers are looking for and what sells. Real Estate Agents will minimize your legal risks and guide you through the complicated paperwork.