Some homeowners opt to sell their residence without a real estate agent to get around paying a commission and make more of the profit. Forty-three percent of people who sell without a real estate agent think that if they sell themselves, they’ll end up doing a little extra work in exchange for not paying a commission or closing fee. According to the research, however, what they actually get is a lot of time spent hustling to make the sale and a final selling price that is less than what the market can bear.
FSBOs accounted for 8% of home sales in 2020. The typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales.
The most difficult tasks for FSBO sellers are:
- Preparing/fixing up home for sale
- Understanding and performing paperwork
- Getting the right price
- Selling within the planned length of time.
- Having enough time to devote to all aspects of the sale
Talk to an agent and find out what they suggest for the commission and then do the math yourself. The closing price for the agent-assisted seller is likely going to be way above an FSBO. In reality, homes sold by the owner make less money overall. Based on these closing numbers, why not save yourself time and make more money by working with a real estate agent that is excited to sell your home?
Read full information at: NAR Realtors