When selling property, there are a lot of questions that need to be asked. One of the first things you’ll ask is FSBO vs real estate agent in Naples, FL. FSBO, or For Sale By Owner, poses benefits and disadvantages and the same goes for hiring a real estate broker in Naples. In this article, we’ll go through five key areas and see the pros and cons for each method.
Price
Usually, people who choose FSBO vs a real estate agent in Naples decide to do so for the purpose of saving money. On average, the commission for selling a home is 6% of the closing price, split evenly between the buyer’s agent and the seller’s agent. That can be quite the sum depending on the value of the real estate.
However, in practice you might not actually get to save that much. Although you can stand to save up to 6%, most buyers will still use an agent for the purchase. Some agents aren’t too keen on showing your property to their clients if they don’t get their 3% commission. This bias will mean you might not be able to avoid losing 3% to commissions if you don’t already have a buyer.
That still means you stand to save 3%. However, the reality is that agents are usually able to close at a higher price that considers their commission. This means, with an agent, you can still net the same amount for your property.
Time
Real estate services in Naples will mainly provide you with the convenience of time. On the one hand, listing as FSBO means that the entire process is in your hands, giving you freedom to schedule as you please. Having a real estate agent work for you, however, means you can have someone dedicated to the sale of your home, which frees up time for you to continue with work and life. You’re going to need a lot of free time when prospective buyers contact you asking for a home your and you’ll need to accommodate all those schedules. Otherwise, you might have a harder time finding a buyer. From preparing marketing materials, organizing open houses and home tours, to filing all the paperwork that comes with selling a home, an agent can save you a lot of time and stress.
Marketing
Staging and marketing your home is an important part of the sale of property. This not only takes up valuable time but cost as well. There are a bunch of hidden costs that you might not have considered from staging the home, taking good photos, to preparing signages. These efforts will incur a cost and the seller is going to have to pay for these efforts out of their own pocket. An agent can help you take care of these as part of their fee as well as refer you to trusted professionals with good deals for getting these done.
In addition, an agent can also have a larger potential reach. They will have access to a Multiple Listing Service that puts your property in front of more eyeballs, and this is only accessible to licensed agents. Each agent will also have their own network of fellow real estate agents who can show your property to their clients.
Negotiation
One of the main reasons why you’d want an agent is their skill and experience. Without one, negotiation will fall solely on your shoulders and if you’re not used to these kinds of transactions, you’re leaving yourself vulnerable to more skilled buyer’s agents who can navigate their way to a better price, at your expense. An agent will also be the middleman between buyer’s agents, escrow, and title companies.
Legal
It goes without saying that there’s a lot of legal matters involved in the sale of property. If you’re not familiar with the process, there’s a possibility that you can miss something and wind up in some trouble. Making a mistake on a contract could mean getting sued by the other party.
Looking For Real Estate Services In Naples?
Do you have property in Naples that you’re planning on selling? Get in touch with Domain Realty today and consult with a licensed real estate broker in Naples, Florida. Get the peace of mind of having an experienced real estate agent help you every step of the way when selling your property in Naples!