The market in Northeast Indiana continues to be hot for sellers. The “average days on market” for homes is at an all-time low and home prices are up. When buyers are plentiful and homes are selling quickly, it’s easy for homeowners to question the value of a real estate agent and decide to try and sell their home on their own. What they may not realize is this decision could cost them in the long run. If you or someone you know is considering trying to sell a home FSBO, here are some points to consider:
1. For Sale By Owner (FSBOs) sell for less.
Studies from 2016 and 2017 have shown that FSBO homes sell for between 5.5 percent and 16 percent less than agent-represented home sales. A professional real estate agent can help you price the property accurately and market it effectively. Agents know the current market dynamics, nuances of neighborhoods and what it takes to maximize the value of your home. Agents also will also bear many of the costs that you would be responsible for if selling on your own, such as marketing expenses and time off work.
2. A Realtor can help buyers find your home.
From listing your home on the local MLS to online marketing and coordinating showings, a real estate agent can facilitate getting potential buyers through the door. Agents have the tools and experience to attract and screen buyers who are serious, ready to buy and prequalified.
3. A Realtor can help navigate selling safely.
There are many legal forms involved in a real estate transaction. A Realtor will help you avoid future liability by ensuring that all documents and disclosures are completed.
4. There’s no substitute for experience and training.
Professional real estate agents’ education and experience allows them to guide you to avoid pitfalls and deal with issues that arise.
Selling your home is one of the largest financial transactions people make. Hiring a Realtor can help ensure that it is successful, leading to reduced risk, getting maximum value and a smoother transaction with less stress.