Top 3 Reasons It’s Better to List with A Real Estate Agent than For Sale by Owner
Selling a home without the help of an Orlando real estate agent might sound empowering to you at first and could save you a few thousand bucks on real estate commissions and fees. However, selling a home without a realtor is complicated and can be risky if you don’t know what you’re doing.
You should know going forward that there’s a lot of legal paperwork which will require your signature, so it’s important you know exactly what it is that you’re signing. If not you could end up either losing money or in some legal hot water… or both!
Although it seems like a daunting task to take on alone, it doesn’t mean you can’t do it. Homeowners claim the most effective marketing methods for selling “by owner” included yard signs, classified ads, and word of mouth.
Here are the 3 biggest challenges homeowners faced who went through the process of selling on their own…
Selling Price was Lower- Studies showed that Orlando homes in 2019 sold for 18% lower when sold as an FSBO as opposed to being sold by an Orlando real estate agent.
More Time on the Market- Homes listed by a Realtor sold 22% faster than homes sold “for sale by owner”. That’s an average of 19 days longer!
More Stress on the Seller- Some of the challenges sellers faced included deciding on the right price, not understanding the paperwork, and just finding the time to deal with the whole sales process. This can cause the average person a serious amount of stress if they’re not prepared to handle the common issues that come up in a typical real estate transaction.
Real estate agents have the experience and resources to handle any issues that may arise throughout the process. So if you’re still wondering whether or not you can sell your home on your own, the answer is yes but be ready to put in the time, work, and money required for a successful sale.
Selling a home is a complex process. An Orlando real estate agent will be there to help you at every stage of the journey from deciding on the price to marketing strategies to closing.
The Realtor Guarantee
You should know that all real estate agents are not the same. Only members of the National Realtors Association can call themselves Orlando Realtors. We subscribe to a very strict code of ethics and have unlimited access to all educational resources and training for both residential and commercial real estate. Realtors also should treat all parties to a transaction honestly and with respect.
Setting the Listing Price
Determining what the listing price will be is not only the first step in the process but also one of the most important. Your Realtor will have the knowledge and tools to come up with the fair market value of the property. They will look at competing properties in the area as well as repairs and upgrades. Your real estate agent may recommend some repairs or cosmetic work which will enhance the appearance of the home for potential buyers.
Marketing your Home
The next step is just as important as setting the listing price… marketing. Marketing your home to the right people as well as to other real estate agents through the MLS [aka Multiple Listing Service], social media, and email is crucial to a successful real estate transaction. Realtors have access to a wide range of tools and resources to properly market a property that unlicensed people don’t have.
If your real estate agent has a deep knowledge of your neighborhood, then they should know how and where to market your property to make the biggest impact. Sometimes they will already know other agents in the area looking for a home just like yours.
It’s Safer
When you sell a home “for sale by owner”, you’ll most likely end up showing your house to a lot of tire kickers who can’t afford to buy. Also, You have no idea who you’re allowing into your home which can be extremely dangerous.
Experienced Real estate agents will prescreen potential buyers to make sure they are serious and are approved for a loan before allowing anyone to see the home.
Negotiating the Deal
Your real estate agent will help you to evaluate offers and act as a middleman between you and the buyer. You will never have to interact with any buyers… or other agents. When you do accept an offer, inspections, appraisal, and possible repairs will follow before moving to the next stage. Your real estate agent will explain all the paperwork to you… understanding all the paperwork is crucial.
Moving Towards Closing
Between the initial offer and the closing of your real estate transaction, issues may arise… and probably will. Things like unexpected repairs that need to be completed for the buyer to obtain financing. Or maybe there are some issues with the title that need clearing up. Your real estate agent will be there for you to handle these issues and anything else that may arise before closing.
If there are legal issues your agent can’t handle, they should be able to refer you to a good real estate attorney.
