There may come a time when you decide to sell your home, whether it’s because you’re moving to another area or paying off credit. But the big question you’re probably asking is, “How do I sell my house?”
Some homeowners hire an agent, but many sell their homes all by themselves (also called For Sale By Order) for budgetary reasons. It’s hard work, but it can save them a lot of money.
When it comes to selling your home without a real estate agent there are pros and cons, and ultimately, it’s up to you to weigh your options and decide what’s best for you and your home. The following are all of the pros and cons of each side for your consideration.
Price For The Home
Arguments for why it’s best to sell a home in Naples, Florida on FSBO usually talk about the net income. By selling your house yourself, you avoid paying a realtor’s commission. It was found in one small study that buyers who sold their homes themselves made at least as much money as sellers who sold through a realtor.
Real estate agents make a percentage of the sale price (usually 6% for buyer and seller agents), but those fees cover a lot of work and money that go into selling a home. You will have to pay money to stage and list your home on the market, as well as host open houses for potential buyers if you decide to sell without a realtor.
Marketing The Property
In 2012, 90% of homebuyers searched online for their new home, according to a study by the National Association of Realtors. FSBO sellers can purchase ads in magazines or newspapers, or post the listing online, but real estate agents have more ways to get visibility to a home, such as the Multi-Listing Service.
Time Before A House Gets Sold
In general, the longer a home is on the market, the less it will sell for. NAR research shows that homes sold through the Multi-Listing Service sold 20 days faster on average, while 20% of FSBO listings had to renew their listing on the MLS because they didn’t sell.
Many agents work long hours, as well as weekends and holidays to ensure that the house is sold for the right amount as soon as possible. FSBO sellers sometimes have to reduce their work hours so they can show the home during business hours, which cuts into their paychecks. Some FSBO sellers keep their home on the market for a long period of time because they can’t drop everything and run when a buyer wants to see it. As a result, they don’t put enough effort into their home’s sale, which means the house sits on the market for even longer. This is a red flag to potential buyers, regardless of whether it’s justifiable or not.
Negotiating A Sale
When buying a home through an agent or FSBO method, the buyer, buyer’s agent, buyer’s attorney, the appraiser, the inspector, the bank, etc. will all need to negotiate.
A real estate agent will handle all negotiations, but a FSBO buyer will need to handle all negotiations themselves. Realtors actively sell homes and know the market in your area—they are the experts when it comes to selling a house. A real estate agent typically sells three to four homes in a week, while an FSBO seller would likely sell three to four homes in a lifetime.
Legal Assistance
Some states may not allow you to close on a home without a real estate attorney present. In addition, unless you’re well versed in legal documents, you could overlook a required form or disclosure, resulting in a lawsuit after closing. Real estate agents know the legal ins and outs of home selling, so they can prevent you from facing a lawsuit.
Selling Your Property Soon?
Domain Realty is a real estate company covering Naples, Florida. Our office is staffed with agents who live in the area and understand the local demographics. This helps us keep our brand consistent throughout the city by knowing how to market to each specific area.
We have a team of proficient real estate brokers in Naples, FL who are ready to assist you with your real estate needs. Having a smooth buying and selling experience for you is so important to us. The members of our real estate team are well versed in the Naples real estate market, and we specialize in finding you the right buyer at the right price.
Learn more about our services by calling (239) 206-6577.