Some Drawbacks to Fsbo
In recent years there has been a rise in the rate of homes sold by the owner. This is usually done in order to save money on realtor commissions. But does this actually happen? Typically there is a commission of anywhere between 5-7% or thereabouts for an agent to sell a home. The question is, do you really save that 5-7% or is that money simply spent elsewhere. Most of the time it is indeed spent elsewhere. Here is why.
A realtor has a number of functions when it comes to the selling process.Most of these are primarily dealing with the process of marketing your home to the local real estate sector. It is this process where an average FSBO seller will utilize that "saved" commission, and more to attempt to get market coverage for their home. One must also take into account the fact that in this day, time is money. Not too many people have the time that is required to market and sell a home properly. Another aspect of the sales process that is difficult for the average home owner to achieve is the level of networking that a realtor does in order to gain notoriety for a particular listing.
Your agent has access to a number of resources that are of critical importance in selling your home quickly. One of these is the CMA, an analysis of homes that have sold recently in your area. This cross section of the market is utilized to gauge the appropriate selling price for your home. An improperly priced home can either languish on the market as it is priced out of the market, or sell immediately for less than it is actually worth. Agents also have an established web presence that is vital in the marketing of a home. Many prospective buyers spend months searching for a home online before making any offers or contacting an owner or agent. In fact much of the time, the buyer knows precisely what they want before the viewing process starts. An agents ability to market a home on a large scale is one of the biggest assets they can offer, in tandem with a vast knowledge of the local market and an established network of professional sales people, a realtor really does offer your home the best possible chance of selling quickly and for the most profit.
Related Tags: fsbo drawbacks, fsbo infortmation, dallas real estate, fsbo advice
M Shane is a member of the REW Writers Team. A collective publication network facilitated by Real Estate Webmasters. Each article is contributed by a member of our real estate community. This particular article was submitted on behalf of VIP Realty, you #1 choice for Dallas real estate.
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