Real Estate Agents Make You Significantly More Money
When considering selling listing your house “For Sale By Owner” (FSBO) it is important to consider, in addition to the challenges faced by FSBO’s, the expertise Real Estate Agents bring to the table.
When selling your home, a Real Estate Agent can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and conditions of competing properties. These are key factors in getting your property sold at the best price attainable.
In fact, a 2011 Home Sellers study reports that the median sales price of an Agent-Assisted home was 27% higher than one for sale by owner.
A Real Estate Agent will market your property to other Agents – as well as to the public – and will know the best way to go about doing so. An Agent can also help you objectively evaluate buyer proposals, and then, finally, help you navigate and close the sale.
In 2011, the typical FSBO home in Bradley Beach and surrounding areas sold for $357,927 compared to $490,308 for Agent-Assisted home sales.
FSBO Buyers & Sellers
Analysts have stated that FSBO’s believe their homes should fetch more than buyers are offering. On the other hand, buyers believe that FSBO properties are overpriced. This is where a Real Estate Agent’s expertise in pricing your house to sell is invaluable.
Competitive Market Analysis
The best price can only be determined by testing the market and challenging the competition. The market dictates value based on current conditions. A Competitive Market Analysis provides the information needed to determine the value of your home.
Buyers “comparison shop” and the Competitive Market Analysis focuses on properties on the market competing for buyer attention.
The Benefit of Right Pricing
Right pricing clearly works to your benefit by resulting in a premium selling price in the shortest time. Pricing right means more qualified buyers are viewing your property, you will not lose money by chasing the market down and you will avoid the stigma of being a ‘stale’ listing. Pricing is the most important aspect of selling your home and it requires the extensive market knowledge that only a Real Estate professional can bring.
Only a Real Estate Agent has the tools and resources needed to pull, analyze and apply this data effectively.
Are you currently listing as FSBO? What challenges are you facing? How can Patrick Parker Realty help?