Should you sell your home FSBO?
Many People Sell FSBO
Many people consider selling their home FSBO, because they think they can keep the 5% or 6% commission in their pocket. And they’d rather keep it than pay it to a professional. Yes – you can, but….
Every year the National Association of Realtors conducts a survey of thousands of people who have recently purchased a home.
Here are some of the findings:
9% of home sellers who sold their home without the assistance of a real estate agent . Forty-four % of those buyers knew the buyer prior to home purchase. Therefore, a homeowner selling without a Realtor has access to +- 5% of the available buyers.
But you’ll still save the 5-6% commission, right? Probably not. The study finds that buyers of FSBO properties immediately discount the asking price by the 5-6 % and more!
The median sale price of a house sold with the assistance of a Realtor is 13% higher than a house sold FSBO – where is the savings in selling your house by yourself?
92 % of buyers used the internet to aid in their search for a new home. A Realtor will put your house in the Multiple Listing System, showcasing it to over 9,000 Realtors who can show the house to their clients. A Realtor will also have your home prominently listed on Realtor.com, Trulia, Zillow and over 30 more real estae web sites, such as Yahoo Real Estate, Google Real Estate and more.
Realtors are required to notify buyers about the dangers of lead paint, cess pool and septic system issues, the NJ Air Safety and Zoning Act and much more. A Realtor can be fined for not have the supporting paperwork. So can a seller. Ignorance is not an excuse to break the law.
In conclusion, a Realtor will, on average, get your house sold for more, will handle all of the necessary paperwork, can recommend qualified professionals to help the process along and, among other things, get the necessary exposure on the internet to get your house sold.
Do you think you’ll save money by selling FSBO?