Do You Really Save Money by Going FSBO?
When you sell your house, going the 'for sale by owner' route comes with advantages and disadvantages.
The first advantage is that you won't pay a real estate commission. However, I think that's a bit of a half-truth because you'll still pay half the commission.
Say you have a $1 million house. Buyers in this price range will certainly have a real estate agent because they know as a buyer, they don't pay the agent anything. The seller pays the commission.
If you sell on your own, you still have to pay the buyer's agent, which could be a 3% to 4% commission.
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If you work with a real estate agent, the big advantage is that you don't have to worry about the safety of you and your family that comes with selling your home to the public. When selling for sale by owner, how would you be able to screen these people and examine their financing options? How can you be sure they're not casing your house when they come to view it?
With an agent, you get screening. To access your house, they have to use a Realtor card that links up to a satellite. Your safety is so much more protected in that scenario.
The numbers show that it makes more sense to sell with an agent as well.
According to a report, the average for sale by owner home in 2016 sold for $39,000 less than the average home sold with an agent. Trying to squeeze out the extra savings by avoiding a real estate fee could actually result in you netting far less money in the end.
If you have any questions about selling your house with a full-service real estate team, don't hesitate to give me a call or send me an email. I'm always happy to help!
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