In a sellers’ market, some homeowners might feel confident & will feel tempted to try to sell their house on their own, which is known as For Sale By Owner, or FSBO. When the quantity of homes for sale is low, buyers can become more enthusiastic to find a house that they admire & to offer a generous bid in hopes to get it off the market as quickly as possible. As a result, this causes some home sellers to believe that selling their house will be effortless, & to decide not to work with a trusted real estate professional. But let’s discuss why that can be a big mistake & cost you more in the long run.

 

Are You Trying to Avoid Paying Any Commission or Fees?

According to the National Association of Realtors (NAR), 41% of homeowners who tried to sell their own house did so to avoid paying a commission or fee to a realtor. However, even when in a sellers’ market, selling your property on your own is not an easy task. Most sellers end up losing money because their house is sold at a lower profit rate than what it would have been sold for through a trusted real estate agency. It is common that a realtor can receive up to 20-25% more than what you were originally expecting. That’s a lot of money to risk losing when you FSBO, far more than what you would save on commission or other fees.

 

Get Ready to Negotiate

The buyer, the buyer’s agent, the buyer’s bank, the inspection company, the appraiser & the title company.  These are all the people you will have to negotiate with whenever selling a house on your own. 

 

How Will Buyers Find Your House?

90% of home buyers search online during their home buying process, & 89% of those buyers are working with a real estate agent. So, more than likely they are using their agent’s sources to find their future home, & your house may not be included within that agent’s searching strategy. It is always best to be on the MLS radar & on an agent’s website.

 

Some Realtors May Not Show a “For Sale By Owner Home”

In a FSBO deal, the buyer’s agent knows that there will not be a professional colleague on the other end of the transaction. So, some agents will dishearten their clients from making an offer in these situations, notating the hassles & risks of trying to close the deal without a professional representing the seller. Real estate professionals are trained negotiators with a ton of housing market insights that the average homeowner may not have. An agent’s expertise can alleviate much of the stress of selling your house & help you close the best possible deal when you do.

 

Sell Your House with Ease with Team Lail-Chambers Real Estate

If you live in the Charleston, SC area & you are ready to sell your house this year, call Team Lail-Chambers today! Odds are, you stand to gain the most by working with a knowledgeable & experienced real estate agency like ourselves. Our experienced team, led by Bob Chambers & Pheobe Lail-Chambers, have the local knowledge to help guide you through the entire real estate process with ease. From the first point of contact through closing & beyond, we will be there to answer questions & keep you informed every step of the way. Browse through all available listings & contact an agent today. We can’t wait to welcome you home!