Why Saving 3% Could Cost You

It’s no surprise that when home sellers consider going the For Sale By Owner (FSBO) route they do so to save on commissions typically paid for in a real estate transaction.  In fact according to many FSBO websites, this is the number one reason that sellers choose to go on their own.  But with any do-it-yourself project, listing your most important asset without representation could not only be risky but costly as well.

“A primary benefit of hiring a licensed REALTOR is for risk management,” said REALTOR® Jenni McFarland. “A full time seasoned professional does this for a living and the level of exposure a listing will receive attracts serious and qualified buyers.  Your REALTOR is required to be familiar with every step of the process as in market values, contract negotiations, disclosures and much more. There is no one better who can speak the language between attorneys, mortgage lenders, appraisers, and inspectors.”

According to an article published by KeepingCurrentMatters.com, the average price of a home sold by the owner is $184,000 while on a national average the price of a home sold by an agent is $230,000.  The reason is pricing a home is both art and science – one that takes tremendous training to accomplish. And while the information on pricing can be found through court and real estate websites, understanding current market trends, neighborhood data, and other factors are where a real estate agent comes in handy.

The other challenge is the amount of disclosures required to sell a home.  And often FSBOs don’t consider this when placing their home on the market.

“We have over 28 disclosures with a few needing to be disclosed more than once and if a FSBO overlooks one required form or mandated disclosure it can cost you the sale of your house, the purchase of the next and possible lawsuits,” said REALTOR® Richard Calderon.

Agents at Rose and Womble go through pricing training and continued education to stay ahead of the market.  If you’re considering putting your home on the market it is wise to interview one of our agents who can come up with a great marketing and pricing plan.  For more help contact our Customer Service Center at 1-800-695-7356 and our team can connect you with a great, professional REALTOR®.