Kimberly DeSocio
Coldwell Banker Realty

Selling Your Home On Your Own

  Here's a few reasons WHY your home might not be selling!   Learn HOW your HOME can SELL FASTER and for the Highest Dollar.

 

How to Sell your home for TOP dollar

 

Here's some info direct from Zillow Research when selling your home on your own as a FSBO (For Sale By Owner)

For Sale by Owner (FSBO) vs. Real Estate Agent

Selling your home means making dozens (if not hundreds) of decisions, starting with whether to work with a real estate agent. While the vast majority of homeowners hire a listing agent, others brave the world of FSBO.  According to Zillow research, 36% of sellers attempt to sell their homes themselves, but challenges along the way lead many of them to eventually hire an agent. I

In the end, only 11% of sellers end up selling their home without a real estate agent.

Here are some FSBO statistics: In addition to the 57% of sellers who believe that selling FSBO will save them money, 36% believe it will save them time, and 27% don’t hire an agent because they feel they know their home better than any agent could. 

If you’re trying to decide whether you’re better off taking on the ultimate DIY project or enlisting the help of a local real estate professional, read on....

When selling on your own, you’re responsible for the process from start to finish, including pricing, staging, listing, negotiating, drawing up paperwork, and closing.  Most sellers decide to go it alone in order to avoid paying the commission fee to the real estate agents involved in the sale. While most FSBO sellers are trying to keep more of their profit in their pocket, it’s important to note that a local real estate agent likely has more expertise in pricing strategy, so in many cases the net profit you earn as a FSBO could end up being lower than if you had listed with an agent.   Data actually shows statistically that FSBO's actually net less money in their pocket than when listed with an experienced agent.  Actually 16% lower to be exact according to the National Association of Realtor's data.

Here's a few Key Benefits and VALUE that hiring an agent can bring :

1.  When you work with an experienced agent, they have a great handle on just what your home is worth in your area, and what kind of pricing will get buyers through the door. They can help you walk the tightrope of getting you as much money out of your house as possible, while still appealing to a wide range of buyers.

2.  Good real estate agents have a deep understanding of their local market and want to show your home in the best light. They also have relationships with photographers and home stagers, who can all work as a team to highlight the amenities that local buyers want.

3.  With access to the local MLS and online listing portals, social media presence, professional networks, connections with other agents, and name recognition, your real estate agent can get a lot of eyes on your listing and plenty of potential buyers in the front door.

4.  Real estate agents are paid on commission, so some agents may not take the time to show your FSBO listing to their clients, since there’s no guaranteed commission.

5.  Experienced agents can spot serious buyers and guide you toward the strongest offers, which eliminates the burden of calls and negotiations with less motivated shoppers. Agents are extremely familiar with both the selling process and your local market, so they can recommend appropriate counteroffers. Bottom line: They’ll help you get as much money as possible. No wonder 82% of sellers surveyed by Zillow said they value their agent’s ability to lead contract negotiations.

6.  There’s a lot of documentation involved when you sell a home, and without an agent, the burden of making sure it’s complete and accurate falls on the seller (or an attorney you’ve hired to help). Seasoned real estate professionals are experts at the purchase and sale process, and all the legalese that comes with it.

7.  Hiring an experienced agent will save you from many tire kickers looking at your home that just want to see the inside and look around.  An experienced agent will be sure each person that is ready to view your home will be pre-approved and have the necessary paperwork that they have the ability to afford and buy your home.  As a FSBO many of you open your door to every stranger that wants to see your home and says they are an interested buyer, but do you really know if they can afford our home?  

8. When the offer is accepted your agent will handle every step from inspections, appraisals, repair issues, lender/financing, escrow deposits etc. The list goes on and on.  Your agent will do all the negotiating keep as much money in your pocket when it comes to inspection repairs or appraisal issues.  If an appraisal falls short which we are seeing in today's market in order to avoid a repeat of the great recession, your agent will go to bat for you and dig into data to find closed sales to help support your sale price.  Can  you as a FSBO take on that job and justify with proven data to challenge an appraised value?  A "GOOD" agent does that every day so they know how to handle those challenges. 

According to the National Association of Realtors, The typical FSBO home sold for $200,000 compared to $265,500 with an agent. 

Together "WE" can net you more money than doing it on your own as a FSBO, it's been proven.

 

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Kimberly DeSocio

Whether you're a first-time home buyer in search of your dream home, a seller looking to downsize or an investor looking for a great opportunity, working with a dedicated real estate professional can make all the difference.

I deliver unmatched customer service, and my genuine desire to see your property goals come true makes me the go-to resource for all your real estate needs. For sellers, I take full advantage of Coldwell Banker's® marketing tools to ensure that your property is broadly promoted on a variety of channels, including major real estate websites, and my negotiation skills are second to none. For buyers, I effectively analyze the local market and target trends to help you find the perfect home at the right price.

If you're looking for a positive, helpful partner who is ready to provide you with exceptional service, let's talk today!

Miami listings last updated Jul 11, 2020 8:40:am.