For Sale by Owner
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It's time to start your new life
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 – For sale by owner. 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. In the end, only 11% of sellers end up selling their home without a real estate agent.
Consider these 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. Homeowners that attempt FSBO transactions are more likely to be Millennials, city dwellers, and minorities.
If you look at the many steps of real estate transaction, each can become an overwhelming problem even with the help of an agent.
To sell it without a professional help is of course not an easy task.
However, it really depends on your lifestyle.
For some, FSBO is enjoyable.
“Homes for sale by owner, or FSBO, transactions are commonly seen in seller’s markets or whenever homeowners want to maximize their profits by not having to pay commission. A home sale by owner option sounds like it could be a pretty sweet deal for the seller. After all, if you’re doing the work, you’ll walk away with the most money, right?
Well, maybe not …
Statistics show that selling your home with the assistance of a professional real estate agent will garner you a higher profit, enough to cover the commission as well as put more money in your pocket. According to the National Association of Realtor®’s 2016 Profile of Home Buyers and Sellers, the average FSBO sales price was $185,000, while the average price for a home represented by an agent was $245,000. That’s a difference of $60,000! Here’s how to find a real estate agent in your area.”
Price your home right is the first important thing.
There are some online tools that you can reference.
It is better to do a market study of your neighborhood by going to a few open houses of similar homes.
“I could believe that real estate agents sell homes for a few percentage points more than home sellers who don’t use agents but 32% seems crazy.
If real estate agents really sold homes for 32% more, wouldn’t every home buyer in the country just go around real estate agents and buy their homes directly from “For Sale By Owner” sellers?
The National Association of Realtors is usually a good source of statistics but they’ve gone off the rails with this factoid.
It is possible to set your price right after some study.
Similarly you can prepare for all other things involved.
Therefore, do your home work appropriately.
How to do it appropriately?
It is actually dependent on your lifestyle.
If your lifestyle needs to be changed, it may take a while.
Nevertheless, change it.
For the time being, you can take actions in good faith.