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Victoria Cottle

Don’t Do It!

don't do it

The national real estate market is very hot right now especially in popular areas such as Sacramento, CA, Denver, CO, Ogden UT, Knoxville, TN, Portland OR, Orlando, FL, and Miami, FL. Home sellers might get the notion that they can sell their home on their own or (FSBO). I am here to say DON’T DO IT!

Collateral Analytics released a study that stated in most cases FSBO sellers may be costing themselves more money by not using a Realtor®. Even Dave Ramsey, whom everyone gets money advice from, states that there is research which shows that FSBO sellers make more mistakes, have a lack of negotiating skills, price errors and lack of general exposure to the full market and end up paying more than they would have if they had hired a Realtor®.

Here are some suggested reasons from the Collateral Analytics study that may indicate reasons for the difference.

  • Bias on the side of the buyers. When not represented by a Realtor® FSBOs may attract what we will call “bargain hunters.” They believe that since the seller is saving the commission, they will let their home go for a smaller price. 
  • FSBO sellers are less likely to “stage” the home for sale. This means using their expertise to set the home up for success in showings or bringing in an expert. 
  • FSBO sellers usually fail to market their home to the full potential buyer pool. Using a Realtor® gets you access to the MLS which in turn, gets your home seen on all the MLS partner sites, broker sites, agent sites and home sites. This syndication gets the home seen by thousands of potential buyers. Using a commissioned Realtor® also gets you incentives for Buyer’s agents to get people in to see your home. Realtors usually have a good marketing plan already set up which provide additional social media marketing too. Statistics show that today’s buyers start their search online. 

Conclusions drawn from the Collateral Analytics study state that FSBOs get significantly lower prices than similar sale properties represented by MLS Realtors. The average sold price is about 6 percent lower for FSBO sales when compared to similar MLS Realtor represented homes.

If you are thinking about FSBO, let me talk to you about advantages for using my services over doing it all on your own. Nobody likes to be all alone.

And remember if you, a friend or family member need assistance with selling or buying a home I can help. Referrals and people needing relocation assistance are welcome! Search Single Family homes in Greenville. Search Condos and Townhomes in Greenville.

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