For Sale By Owners are the “do it yourselfers” of real estate. Property selling privately without the help of a real estate professional has always been and will always be part of this business. Seeing a FSBO sign in a front yard gets me to thinking about the value of the service I provide.
It doesn’t take a rocket sceintist to know that when someone attempts to sell their property on their own it is usually because they do not want to pay a real estate agent’s commission fee. They assume that they will walk away from the closing table with a larger check. If that were true….who could argue?
National Association of REALTORs research says most FSBO sellers walk away with a smaller check than that of the competing sellers who hire real estate agents. On average 10% more! Why? I’m so glad you asked! 😉
- First let’s define market value. The most probable price a property should bring in a competitive and open market. A reasonable time must be allowed for the exposure in the open market.
- It’s much harder to negotiate well on your own behalf. Especially on something as important and sometimes as emotional as your home. A good seller’s agent will negotiate on their client’s behalf. They will consider the seller’s risk tolerance, typical market concessions as well as current and historical market activity. An agent is emotionally neutral during the negotiation.
- Besides being trained negotiators a good seller’s agent is a marketing expert. Staging (which is good for both buyers and sellers) , advertising, presentation of the property to buyers and to other agents through photos, tours, videos and live showings/open houses are all part of marketing.
We all have days when we ask ourselves….”Why am I doing this? Does what I do really…..matter?” I believe with every fiber of my being that the value of my service to clients and customers is worth more than the commission fee I charge. Sellers walk away with more money in their pocket after paying my fee than a FSBO seller . Many FSBO sellers have shared with me in hindsight that they while thier intent was to save money they ended up getting pretty beat up along the way. Assumptions were made, feelings were hurt and a smaller check at the closing table.
Some people aren’t willing to pay for services that other people find valuable so I choose not to take people’s decisions to sell on their own personally. It’s not about me.
- Some people choose to hire an accountant to complete thier tax return while others prefer to keep with the everchanging IRS tax code themsleves.
- Some hire attoreny’s to advise them with regard to estate planning. Some don’t.
- Some people go to a medical professional when they are ill and others distrust the entire profession.
- Some people have a financial planner and others put their money in a shoe box.
- Some people pay a stylist to cut thier hair and some people cut thier own!
Thanks for taking the time to stop by our blog today! Come back and visit soon!