Many homeowners have the common misconception that trying to sell on their own is the better route and will net them more money. I would strongly disagree. Here are my top three reasons why working with the right real estate agent is the better option.
Sellers who go the For Sale by Owner or FSBO route do so because they want to save money. They believe that they can do this by cutting the agent’s commission out of the equation. According to the National Association of Realtors, FSBO homes typically sell for 25% less than agent-assisted sales. Locally, a typical commission fee is 5%. Based on these numbers, sellers who work with an agent can potentially achieve a 25% greater sale price. After deducting the 5% commission, a seller nets approximately 20% more money than if they were to sell the home on their own as an FSBO.
FSBOs generally do not get sufficient exposure. This can result in the home staying on the market longer. Research shows that almost 95% of home buyers begin their search online. For that reason it is critical to have a strong online presence. The majority of FSBOs do not have the resources needed to build a strong online presence to market their home. Working with the right agent can solve this issue. A qualified agent will place your home on the Multiple Listing Service or MLS, which is seen by thousands of agents and homeowners across the state. Real estate agencies will often use a blend of digital and print marketing to ensure your home reaches buyers effectively through various channels of exposure. In addition, qualified agents will have web pages and social media accounts with thousands of followers to further promote your listing. This exposure typically results in quicker sales. And as we all know quicker sales result in more money in your pocket.
The amount of paperwork necessary to legally sell a home has continued to increase dramatically over the past few years especially with the new forms related to COVID. All of the inspections, disclosures and other regulations can be very overwhelming. FSBOs are not exempt and must adhere to all of these same regulations. A qualified Realtor will have extensive knowledge of all of the rules and regulations.Negotiation is another part of the process that can be very difficult. FSBOs often will need to negotiate with the buyer, the buyer’s agent and the home inspector. Without experience this can be incredibly stressful and costly. A good agent guides these negotiations and in many cases is the key to keeping the deal together. Working with the right real estate agent has many benefits that in the long run can save a seller a lot of time and money. A good agent can help by achieving a higher sale price in a shorter amount of time. In addition, a qualified agent will provide a homeowner with invaluable peace of mind that they are working with a trained professional who knows the rules and regulations and can make the deal happen.
Zeevyah has been a Teaneck resident for over 30 years. Her drive, devotion and creativity have helped her build a successful career in real estate. Her legal background and keen attention to detail, coupled with her candor and energy, has positioned her to be an invaluable asset to her clients. She prides herself on her negotiation and advocacy skills. Zeevyah currently lives in the West Englewood section of Teaneck with her husband and four children. She is a member of the National Association of Realtors, Eastern Bergen Board of Realtors, New Jersey MLS, and has been a NJAR® Circle of Excellence Sales Award® recipient for the past five years. Zeevyah can be reached at 201.956.0208. She looks forward to getting your home sold!
