The COVID-19 pandemic is still challenging the world in many ways. The housing market is still going strong and is predicted to keep doing
so. Home prices are on the rise and it has definitely become a seller’s market. Even though this is an easy time to sell your home for a great price it doesn’t mean you need to try and take on the task yourself. For Sale By Owner (FSBO) might look enticing right now but before you go this right consider these six factors.
Your Safety Is A Priority
This is so important during this day in age when we are going through a health crisis around the world. Even though the stay at home orders have been lifted, it is still a risky situation to have just anyone enter your home. When selling your home on your own, it is harder to control who walks through the door to take a look.
Hiring a Realtor can eliminate some of this problem. A real estate professional has learned to work with our current health crisis and will have proper protocols in place. These protocols will not only keep your home safe but your health and well-being too. A Realtor can regulate showing times so that your home can be properly sanitized after each showing. Realtors have also learned to rely heavily on virtual tours. The National Association of Realtors (NAR) has a set of the latest industry standards they recommend to keep everyone safe.
A Powerful Online Strategy Is A Must to Attract a Buyer
The National Association of Realtors conducted a study that showed 43% of buyers search online first when looking for a home. This figure was correct even before COVID-19. Now with social distancing, the percentage has increased to 97%. A Realtor has learned how to navigate today’s social distancing. Real estate agents have learned to focus on the internet and social media to promote listings.
There Are Too Many Negotiations
A Realtor can handle all your negotiating needs. Selling a home is not just working with a buyer. When selling a home you have to negotiate with the buyer, the buyer’s agent, the inspection company and the appraiser. Not all inspections or appraisals run smoothly. A Realtor can work with an inspector and challenge them on their findings or an appraiser who is questioning the value of your home.
You Won’t Know if Your Purchaser Is Qualified for a Mortgage
A big step when selling your home is having a buyer make an offer. Anyone can make an offer on your home but when it comes to closing the deal can they afford it? This is a very important factor when selling your home. If you are selling your home on your own it is virtually impossible to confirm your buyers have taken the right steps through a mortgage process. This is not a problem for a Realtor. A Realtor is good at filtering out those who are serious buyers. A real estate agent has an easier time obtaining the buyer’s progress in the mortgage process. A big part of a Realtor’s job is to make sure the buyer makes it to the closing table with funds.
FSBOing Is Becoming More Difficult from a Legal Standpoint
When selling a home there are many important documents that must be completed. In today’s housing market, paperwork for the sale of a home has become more involved. Documentation for detailed disclosures and regulations have become mandatory. A Realtor can act as a third-party helper when it comes to all the legal documents. An agent can help avoid legal jeopardy for a seller. A study showed that FSBOing has decreased from 19% to 8% over the last two decades because of legal reasons.
You Net More Money When Using an Agent
One of the biggest reasons sellers want to try and sell their home themselves is to save on commission fees. According to a study done by Collateral Analytics, a seller does not save money by skipping out on using a Realtor. The study finds that the difference in a home’s sale price was 6% by using a Realtor versus For Sale by Owner. An agent listed property gets more exposure through local MLS and marketing the home to a bigger buyer population.
Selling a home is a stressful event but can be even more stressful when trying to do the entire transaction on your own. A local real estate professional can help you through the process and get you the best price for your home.