Selling by Owner vs Using a Realtor
A good number of home sellers will try selling their home by themselves as a FSBO (for sale by owner) before listing with a realtor. Most of these people would like to save or preserve as much of their equity as possible by not paying a commission. While there are a great number of resources now available to home sellers, there are still clear advantages to involving a realtor in the sale and marketing of a home. To help you as a seller make the right decision and fully understand your options, let’s look at a couple of statistics:
- The average cost to sell by owner has been estimated nationally to be between 7-10%. Most of this percentage, the owner gives up in negotiations and concessions and there are a few hidden costs as well (e.g. repairs, warranties, closing costs, etc).
- Typically, on the other hand, an agent's commission for a home sale is approximately 5-7% from start to closing. Real Estate commissions are based on part on the above statistic.
- Another interesting statistic is that homes sold using a realtor typically sell for twenty thousand more than homes sold by owner. This is a NAR (National Assoc of Realtors) national statistic.
- Marketing and showing a home can be stressful, time consuming, and expensive. Realtors clearly have an advantage here. They are professionals that sell homes for a living and have a broad selection of marketing tools to utilize.
- Negotiations and closing: An experienced realtor is usually a great negotiator and expeditor. Good Agent's are typically well versed in the proper execution of contracts and all aspects of closing a home.
Overall, using an experienced and well trained realtor is usually a winning proposition. We at the Carolina Realty Guide are certainly not saying that a home seller cannot be successful at selling by themselves. Many are. But we would like to point out that there are statistical advantages to hiring and involving an experienced realtor.
For realtors in other areas:
Search the Tampa MLS for Tampa Bay area real estate and homes.
Destin Florida Real Estate Listings for those interested in beautiful Florida Beaches, and the laid back Florida atmosphere.
Fort Myers Real Estate
Visit greaterftmyers.com for complete real estate information and MLS listings
Myrtle Beach Realtor
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