Selling a house is hard work. You need a licensed listing agent, or seller's agent, to help you get the job done right. In fact, 89 percent of Americans choose to sell their home with a listing agent. Here's why:
Selling real estate is a full-time job. Agents work when buyers and sellers are available, which is typically nights and weekends. If you already have a 9-to-5 job, this means that all your available free time will be spent trying to sell your home, which could take weeks or even months.
2. Low Ballers:
FSBOs, or For Sale by Owners, choose to try to sell without an agent to save money. Unfortunately, they attract low ballers. A low baller is a buyer who writes up an offer at a ridiculously low price, wasting everyone's time. Being on the receiving end of a low ball offer is incredibly disheartening.
3. Multi-Listing Service:
Listing agents have access to the multi-listing service, or MLS, which is a database that all licensed real estate professionals use to find houses for their clients. As an FSBO, you cannot access this source.
4. Sell For More:
According to the National Association of Realtors, or NAR for short, the average home sold with a real estate agent in the United States in 2019 sold for $280,000 while the average FSBO only sold for $200,000 that same year. That reflects a huge price gap and one that most homeowners just cannot ignore. If you need to get the most money out of your home as possible, you need to list it with a Realtor.
Selling real estate is a complicated legal transaction that requires that all documents be filled out correctly to avoid future liability. An experienced agent is trained to protect you from future lawsuits and to remove you from any liability associated with selling your house. You wouldn't go into court without a lawyer and you shouldn't sell a home without a real estate agent.
6. Social Media Reach:
As social media platforms begin to multiply, real estate agents are using them more and more to market their services and to sell houses. Listing agents typically have extensive social media reach that includes past, previous, and prospective clients. The more people that they can reach out to in order to sell your home, the better.
You may think that skipping the real estate professional is saving you money, but it may cost you much more in the long run. If you have further questions, reach out to a local real estate agent.