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Using a real estate agent to sell your house VS for sale by owner

In the real estate industry, we call homeowners who market their properties for sale on their own FSBOs or for sale by owners. The obvious primary goal of an FSBO is to save money on real estate commissions. In recent years, we’ve seen more For Sale By Owners, especially in lower price points and in neighborhoods outside of downtown. There are a few reasons for this increase, including the openness of the MLS system, the perception of the role of a real estate agent, and market conditions.

Recently, the MLS (Multiple Listing Service) was opened to the public, which means that a FSBO could list your property on the MLS (still through a real estate agent and brokerage), but could manage the sale process for you. account without offering a cooperating broker a commission for finding a buyer. The reality is that real estate agents will work with a buying client for months, sometimes years, so naturally, a real estate agent would like to get paid for their efforts. For this reason, real estate agents may not work with you and bring their qualified buyers to your home. FSBOs also tend to overprice their property, but a real estate agent knows true value and will only present properly priced properties to their client.

Real estate agents are often placed in the same category as a used car salesman: the perception is that real estate agents are rolling in the dough with very little effort. In recent years, the real estate market has been booming, making a real estate agent job look easy with MLS-listed properties selling within hours or days of being listed. What people don’t realize is that there is a lot going on behind the scenes when selling a property and also a lot of responsibility. It’s a full-time job, and people don’t realize this: A real estate agent’s job includes setting the price, marketing the property, managing appointments, negotiating the contract, and ensuring a smooth closing. We’re talking big money when buying or selling a home, and in most cases, this is the biggest purchase someone will ever make. Working with a real estate agent as a buyer is a free service, so there is really no benefit to the buyer if he doesn’t, since he is protected by his own real estate agent. As real estate agents, we live and breathe real estate, so for us selling or buying a property is second nature – we know what questions to ask and what to look for.

The good thing about working with a real estate agent is that the seller does not pay for the service unless the property is sold. In the case of an FSBO, every time they hire a lawyer to assist them, they are charged an hourly rate, regardless of whether or not the house sells. In the end, there are FSBOs that sell their property on their own, but about 80% of FSBOs end up listing and selling with a real estate agent.