Which is the Best for Sale by Owner or Listing Agent
The process of selling property is a tedious and long process which can be frustrating and time-consuming if you are not patient you can sell your property at a throwaway price or take forever before getting a buyer, it requires patient, skills, and determination which most property owners lack, to save them from that hustle majority of homeowner hire realtors to sell their properties for them, the listing agent has mastered the skills of selling properties and probably has a list of potential buyers for your property but still some homeowners insist on selling their properties without listing agent. But before a homeowner decides to engage a listing agent, they weigh on various factors such as the commission realtor will take, the price the listing agent will suggest for the property, timeframe among other things, the considerations plays an essential part in deciding whether to go solo or look for a realtor to sell your property. This article, therefore, identifies the various considerations homeowners make that determine whether to involve a realtor or not.
The major factor that contributes to the homeowner selling their property commonly known as for sale by owner (FSBO) is the commission the real estate takes after property sale, this commission range between 4-6% and is based on the price the house sells,but what most property owners do not seem to appreciate is the time the realtor has invested in the sale of the property, the energy, patience, and commitment in finding the ideal buyer, taking a picture, prepare the property among other details to sell the property at a good price and speed, nevertheless, homeowners who decide to list their properties still pay some money to list and host their property for potential buyers which can be hundreds or thousands of dollars.
The other thing that homeowner make them consider involving a listing agent or not is when they have a viable or interested buyer such as a friend, family member, or neighbor, in such situation FSBO is the way to go, but in situations where you have no interested or viable buyer going to market alone can be rough for you especially if it’s the first time to sell a property, the good thing with a listing agent have a list of buyers who might be interested in your property making the sale first and saving your time and energy.
When you are selling your property in a high demand market you can consider selling your properties without engaging a listing agent, however, lack of experience, limited knowledge in the property market as well as inefficient negotiation skills may make you sell your properties at garbage price losing more than the commission you could have paid the listing agent. Those are some considerations you need to make before choosing FSBO.