Daydreaming about holding onto as much cash as possible come closing day… enough so that you’re considering FSBO (For Sale By Owner)? Before you decide to go it alone, wrap your head around these 3 reasons FSBO listings often fail, and understand what you’re up against if selling without the help of a trusted team of Grand Rapids realtors.
#1 ) Lack of marketing exposure
Let’s be honest: ten hours spent on the couch surfing Zillow & Trulia does not a real estate agent make. So, while you might be feeling savvy enough to list your home yourself, keep in mind: going it alone without an experienced realtor can leave you without access to some of the most powerful tools in real estate, like the MLS and agent-to-agent referrals. Trust in the established connections and intricate networks of your local West Michigan real estate agents and prepare for a positive selling experience from start to finish!
#2) Lack of market & pricing knowledge
While searching recent sales asking around the neighborhood may leave you thinking you’ve got a beat on where your abode should be priced, nothing compares to real, raw market knowledge. After all, the neighbors who sold last June may have been at the mercy of an entirely different market, or may have had other factors weighing into the final purchase price. So, instead of stretching for an astronomical list price or (maybe worse) selling yourself short, rely on the knowledge of a trusted Grand Rapids realtor when pricing your home. Their current, climate-appropriate knowledge will help you pinpoint the perfect price to either lock in a solid offer quickly or ignite a bidding war, gaining you what your home is truly worth (and, sometimes, more)!
#3) Lack of experience with legal paperwork
All-nighters spent pouring over contract addendums not your thing? Then you may want to forgo FSBO and rely on a trusted Grand Rapids realtor – your partner in all that pesky paperwork. When prepping to sell a home themselves, many FSBO listers forget the flurry of documents and contracts that come along with (including a complicated closing process with piles upon piles of paper, just waiting to be signed). And when you’re dealing with something as important as protecting yourself from future legal battles should something go wrong with your home pre or post sale, it’s always best to rely on the best – an experienced and knowledgeable team of realtors who make this pesky paperwork feel seamless and simple.
Still think cutting out your realtor leaves nothing but a bigger cut of the closing day profits for you? Think again! Studies show that selling with a pro real estate agent can actually help pad your profits – not only enough to cover commission costs, but stash some extra in the bank, too! In fact, according to the National Association of Realtor®’s 2016 Profile of Home Buyers and Sellers, the average FSBO sales price was $185,000, while the average price for a home represented by an agent was $245,000 – a $60,000 difference!