FSBO OR LIST WITH AN REAL ESTATE AGENT?
One of the first decisions you’ll need to make when selling is whether to sell your home for sale by owner (FSBO) or to list your home with a real estate agent. Each approach has its own set of advantages and disadvantages.
While over 90% of the real estate transactions in the country are done with a Real estate agent involved, some sellers are comfortable navigating the sales process on their own. A few things to consider before looking at the pros and cons should be:
- Current market volatility
- Your ability to compartmentalize your emotions from the transaction
- Experience that you have in some sort of sales capacity.
For Sale By Owner
Pros
Potential cost savings: By selling your home yourself, you may be able to save on the commission fees associated with working with a real estate agent.
Control over the sale: Selling your home for sale by owner gives you complete control over the sale process, including setting the price, arranging showings, and negotiating offers.
Personal touch: As the owner, you can personally interact with potential buyers, answer their questions and highlight the unique features of your home.
Having Fun: If the thought of doing yourself sounds like a fun challenge to tackle, it can be very rewarding when you have completed the mission at hand!
We highly suggest setting a budget for your repairs and prioritizing which ones to focus on from there. Start setting a budget by knowing how much your home is worth.
CONS
Time commitment: Selling your home for sale by owner can be a time-consuming process. You’ll need to handle all of the paperwork, marketing, and showing of the property on your own.
Limited exposure: By selling your home without a real estate agent, you may have a smaller pool of potential buyers and may miss out on some marketing opportunities.
Lack of expertise: Without a real estate agent, you may lack the expertise to properly price your home, negotiate offers, and navigate the complex legal requirements of the sale process.
Listing With a Real Estate Agent
Pros
Professional expertise: A real estate agent can provide you with professional expertise, including pricing, marketing, and negotiating the sale of your home.
Marketing and exposure: Real estate agents have access to a variety of marketing channels and can help your home reach a wider audience of potential buyers.
Time-saving: By working with a real estate agent, you can save time and reduce the stress associated with selling your home.
Higher Sales Price: Normally with more exposure, creates more demand. The more demand should yield a higher sales price.
CONS
Commission fees: Real estate agents typically charge a commission fee for their services, which can eat into the profit you make from the sale of your home.
Loss of control: Listing with a real estate agent means giving up some control over the sale process, including negotiating offers and arranging showings.
Choosing the right agent or team: Not all agents or teams are created equal. How do you know who is the right agent to work with? There are many factors that should be considered when choosing the right agent to work with.
Ultimately, the decision to sell your home for sale by owner or list with a real estate agent comes down to your own priorities and needs. We recommend weighing the pros and cons of each approach and working with a professional real estate agent to help guide you through the process
Ryan Young
CEO, The Young Team