Most people consider using the services of a real estate professional in the process of buying and selling homes and properties. There’s a common misconception using a real estate professional during this transaction process means paying a big old commission to said real estate professional.
“FSBO” stands for “For Sale By Owner.” Pronounced “Fiz-boh”, this term refers to when a homeowner opts to sell his or her home without using a real estate agent. Without the aid of a real estate professional, the seller, more or less, assumes all responsibilities of the agent or broker. And that can be a big headache.
However, this isn’t to say there aren’t any advantages to a FSBO transaction.
Advantages of FSBO
Selling your home by yourself has its advantages. For one thing, it’s likely you’ll save money on commission. Even though there’s no real fixed commission rate, 6% is a common figure.
Some sellers are experienced in the process of buying and selling houses. For these individuals in particular, a FSBO property might actually be beneficial in terms of a financial decision. With ample knowledge about real estate, sellers can save money.
Disadvantages of FSBO
The benefits of FSBO are fairly limited, so the disadvantages of FSBO outweigh them. Pure FSBO homes will not appear on the Multiple Listing Service agents use to find homes for sale. That means a FSBO home will be less visible to the world of buyers!
As a seller, you’ll likely save money only on the listing agent’s commission. The buyer is likely to have an agent, which means you might end up paying commission to them, depending on the Buyer Broker agreement.
Here’s another tricky situation. Imagine a court case where your “opponent” has a lawyer, and you don’t. Translate this situation to real estate transactions, and it’s pretty sticky right? The buyer’s agent is working to get the best deal possible for his or her client. Who is on your side to get the best possible deal for you?
Consider this: there’s a reason people get paid to do what they do. Professionals have training that they constantly use, which is to say they cultivate skills. Yes, you can absolutely figure out how to DIY your own real estate transaction, just like you can figure out how to do your own car repairs or a variety of other DIY projects. But if you’re not a plumber and you don’t know anything about pipes, should you try and fix them on your own?
A licensed real estate professional, agent, or broker has the tools and training that enable them to do their job better and faster. Just like a mechanic or a plumber. Is the money you may (possibly) save on commission worth your time? Consider hiring a listing agent, or real estate professional to help.
Why Work With a Buyers Agent
It may be tempting to “go it alone” in an effort to save money, but in our experience, the stress, unforeseen obstacles, and time on the market experienced by sellers is not worth it. They often wind up hiring a real estate agent in the end after all, after having wasted precious time, money, and resources. Working with a Buyer’s Agent means you’ll have a personal ally in your real estate transactions.
By hiring a qualified professional from the beginning, most sellers will actually end up saving money, as their agent will know all the tricks and tips to sell a home quickly at top dollar.
What’s more? A Buyer Agent can show you every home listed in the REALTOR®’s Multiple Listing Service (MLS) and For Sale By Owner (FSBO) properties. Additionally, a Buyer Agent can show you builder models to select your own, brand-new properties and unlisted homes.
Real Estate Experts
At Real Estate Experts, we’re top listing agents. We have been providing all of these benefits for our clients for the past 20 years. Our seasoned team members work together to provide outstanding service to our buyers and sellers, while developing a unique partnership to better care for our clients.
If you are looking to buy or sell, let one of our top realtors assist you today If you are interested in learning about properties available in them in the greater Triangle area, visit us online. Call us today at 919-813-6449 or e-mail us at [email protected] for additional information.