It’s possible that you’ve thought about selling your home “For Sale by Owner” (FSBO) without an agent. However, in the current shifting market, more homeowners are concluding that the risk is simply not worth it.
Homeowners selling without an agent have never been more common, according to the most recent data from the National Association of Realtors (NAR) (see graph below):
Additionally, statistics reveal that even among the few homeowners who choose to sell independently, they are still unsure that they are making the right decision.
Three out of four homeowners who don’t intend to use an agent are unsure if it’s the right choice, according to a recent survey.
Here’s why. The market is evolving, but not in a negative way; rather, it calls for a more astute and calculated approach. And it’s very beneficial to have a real estate specialist on your side.
Just two examples of how an agent’s experience matters are as follows.
1. Getting the Price Right in a Market That’s Evolving
Determining the right price is one of the most difficult tasks when selling a house on your own. You must hit the bullseye for the current state of the market, not just pick a number that seems right or sell your house for what your neighbor sold it for a few years ago. You’re more likely to fail if you don’t have an agent’s assistance. According to Zillow:
“Agents are pros when it comes to pricing properties and have their finger on the pulse of your local market. They understand current buying trends and can provide insight into how your home compares to others for sale nearby.”
In essence, they are aware of what is selling, what local buyers are willing to pay, and how to best position your home for a speedy sale. Such knowledge can make a significant difference, particularly in a market that is balancing out.
2. Handling (and Actually Understanding) the Legal Documents
When selling a home, a ton of paperwork is also involved, ranging from contracts to disclosures. Additionally, a mistake could have serious legal repercussions. Having an agent can also be beneficial in this area.
They have dealt with these documents innumerable times and are aware of what is required to keep things moving forward and prevent delays. Additionally, since buyers are now requesting concessions and adding more contingencies, your agent will walk you through each form step-by-step to ensure that it is completed and recorded accurately the first time.
3. Selling Your House Quickly Even in a Shifting Market
Homes aren’t selling as quickly as they used to because there are more homes for sale now. However, if you have a tried-and-true strategy to make your home stand out, you can still sell it quickly.
Just keep in mind that homeowners lack the same marketing resources and network as seasoned agents. Therefore, you’ll probably want an expert on your side if you want the process to go quickly.
Bottom Line
In a changing market, having the appropriate agent and strategy is crucial. Get in touch with a local pro to avoid doing this alone and to list with assurance that you’ll have professional advice from the start.