Before we start, let me ask you something. Do you know what exactly a “For Sale by Owner” real estate listing is? Well, it is a real estate listing where the homeowner tries to sell their home all by themselves and without taking any help from a real estate agent. For Sale by Owner – So they put signs and wait for offers instead of contacting their local real estate office. As a homeowner, you may think that selling your home on your own can help you save money. However, this is not always the case. You may end up losing cash in the process.
Transactions of homes “For Sale by Owner” generally result in a hefty cut in price which is about 28% less than what may be by contacting a real estate agent – according to U.S. National Association of Realtors. This shows how a little saving on the real estate commission can lead to cost you a lot in the actual sale price. So you may ask, why do people prefer buying homes that are listed by real estate agents? Well, the agents not only have accurate appraisal tools for assessing the right value of the home but also have a lot of access to current data that is evolving the housing market.
Of course, homeowners can do market research and check prices of homes that are similar in style. However, their efficiency will be much less than a professional agent who has rich databanks containing all the useful information. Apart from this, homeowners don’t ask enough for their property. Now, if you don’t ask for it, how can you get it?
Most real estate agents are great marketers. To generate fast sales, they provide the homes with all the required exposure. It is not always enough to publish classified ads in newspapers if you want to tap into more interested customers. So the real estate agents use various other means to create interest in a property such as making use of the internet, word of mouth and Multiple Listing Service or MLS.
In fact, many “For Sale by Owner” home sellers are willing to pay their realtor’s commission. Often this is because, a real estate agent has all the tools, with the help of which they can market the home effectively and has all the required skills to manage visits, open house dates, deal closings, home inspections and much more.
In case you want to sell your home yourself, think again and contact a Phoenix realtor. Of course, selling your “For Sale by Owner” home yourself comes with some perks. You can keep the price same and make more profit from the sale, or you can ask a lower price making your property much more attractive to the buyers. Here is a guide on selling a home If you still feel concerned about selling your house “For Sale by Owner.”