On the surface, selling your own home may seem like a great way to save time, money and stress. After all, For Sale By Owner Homes (FSBO) allow you to cut the commission and list your home on your terms, right?
The truth is, opting to sell your home on your own can and will cost you more than you bargained for. If you’ve been thinking about flying solo when it comes time to put your home on the Edmonton market, here are 11 reasons to reconsider:
1. Some REALTORS® May Not Show a FSBO Home
Some real estate agents actually go out of their way to avoid FSBO homes – unless specifically requested by the buyer. This is because REALTORS® are more inclined to shy away from transactions without another trained and licensed agent on the other end. However unjust, FSBO homes (and their owners) are often perceived as difficult and problematic – and that’s before anyone even steps foot through your front door!
2. Pricing Your Home Correctly the FIRST Time is Crucial
Pricing your home correctly from the beginning is critical if you want to sell your home quickly and for the most money possible. List it too high (as is the case with most FSBOs), and your home is guaranteed to sit on the market until you adjust the price. By this time, you may find yourself dropping the price even lower than anticipated, just to regain buyer interest.
See also: 7 Key Signs Your Home is Overpriced
3. They Can Help You Improve Your Home’s Value
Sure, you know a good clean and a little organizing is imperative before listing your home on the market. But what about other items in and around your home that may affect its perceived value? An expert Edmonton REALTOR® can not only have your home looking its best, but may also suggest ways in which you can squeeze more money out of your property.
For more information, see: 6 Simple Renovations to Make Before Selling
4. Selling a Home is a Full-Time Job
Selling a home requires both full-time planning and flexibility. Not only will you need to have your property inspected, repaired, assessed, listed, marketed and more, but you’ll also need to be extremely flexible when it comes to answering buyer phone calls and scheduling buyer showings. Then, of course, there’s all the work that comes afterwards.
5. REALTORS® Are Well Connected
With years of industry experience comes a wealth of connections. In addition to an extensive list of potential buyers already on tap, your REALTOR® will also bring a wealth of industry-related contacts to the table – guaranteed to help you along your home selling journey. These include everything from reputable mortgage lenders and home inspectors to real estate lawyers and contractors.
6. They Are Marketing Experts
There’s much more to selling a home than simply listing on MLS and staking a “For Sale” sign on the lawn. To really catch buyer attention in today’s market, your home needs to be professionally photographed, promoted online, marketed across multiple social media channels and much more. In fact, some of the BEST agents employ by a 27/7 home selling system, guaranteeing your home will be marketed ‘round the clock until it is SOLD.*
Check out: Sometimes Even the Best Homes Don’t Sell
7. They Help You Zero-In on the Best Buyers
With years of experience under their belt, a REALTOR® can spot an unqualified buyer from a mile away. Simply put, an unqualified buyer is not overly committed to finding and securing a home in a timely manner. Are they pre-approved for a mortgage? Will the purchase of your home be dependent on countless buyer conditions? FSBO sellers MUST understand how to qualify their buyers if they want to avoid wasting time and/or worse, getting burned.
8. They’ll Keep the Target Off Your Back
Did you know many FSBO sellers wind up paying more in buyer incentives than they would if they’d partnered with an Edmonton REALTOR®? Or that FSBO sellers are more likely to be targeted by bargain shoppers? It’s not uncommon for deal hunters to assume you’ll be willing to settle for less because you don’t have to pay a real estate agent. They may even ask to share in your commission savings as a condition of your home’s sale.
9. Negotiating is an Art Form
One of the hardest (yet most important) aspects of selling a home is the negotiations process. At this time, FSBO sellers must walk the very fine line between doing what’s in their best interest while maintaining flexibility with the buyer. But how do you know if you’re bending too much? Or not enough? What if the buyer comes back with a counteroffer? An Edmonton REALTOR® has the experience needed to make the buyer happy AND secure more money in your pocket.
10. Skip the Paperwork
No real estate transaction is without its piles of paperwork. As a FSBO seller, you are LEGALLY liable for all documents pertaining to the property’s sale. Accidentally overlooking a vital piece of the puzzle, such as an inspection report or mandatory disclosure, may not only cost you your home’s sale but can lead to costly legal repercussions.
11. You’ll Make More Money
A recent survey has revealed the typical FSBO home sold for $58,000 LESS than the average agent-assisted property. In short: Working with an Edmonton REALTOR® will net you an additional 22%. So even if you did pay, say, 7% in agent commission fees, you’d still pocket an additional $35,740!
Need we say more?
Are you thinking about selling your Edmonton home? Get in touch with the Terry Paranych Real Estate Group to schedule your FREE Home Evaluation. Not only can we determine what your home is TRULY worth according to today’s market conditions, but our proven 24/7 home selling system is guaranteed to help you sell your home quickly and for the most money possible!
Not sure if you’re ready to sell? No problem! We can simply suggest ways to improve your home’s value until you feel confident about hitting the market.Terry Paranych on