For Sale By Owner. What that lawn sign means is that the homeowners think they can do what agents do and save the commission. You know of course that your skills would almost certainly translate to a higher sale price, but it’s smart to be ready to counter sellers on the fence with points they may not have thought of.
Here are four reasons some sellers think they don’t need a REALTOR®, and how to counter that flawed logic.
Owners have the time and effort to devote to the sale
They may have the time, but have no idea what REALTORS® do before showing houses–the marketing, the preparing of the house, the price determination, etc. Plus understanding and knowing how to respond to questions from potential buyers. Scheduling clients, hosting an open house and, most importantly, listing the house with an MLS while likely already having clients looking for a house to buy. Networking with other agents is also something a homeowner cannot do.
Owners will always be available to show the property
One of the things homeowners pay for via an agent’s commission is convenience. Potential buyers may want to see a house days, nights or weekends. Agents usually make themselves available 24/7. The owners likely would not want to act as agents showing the house five times a day if needed. Add in all the phone calls and emails and texts and suddenly it’s not quite as easy to sell a house as the owners think.
Owners will market the property properly
Oh no they won’t. They can have no idea how much effort goes into creating a unique digital presentation, including video, social media platforms and more. Homebuyers will almost always have seen every aspect of a home online before visiting in person. REALTORS® have professional and expensive tech tools that are vital in today’s residential real estate landscape. Even a computer-savvy homeowner can’t create what a brokerage can.
Owners don’t need to get involved with procedures and contracts
Maybe they think that’s what the lawyers are for, but what about when homebuyers ask questions that most agents can answer? Mortgage, timeline, documentation, referrals for all kinds of services, etc. The expert agent will provide guidance and direction. Then there’s the negotiating. It can get tense going back and forth between a buyer and seller. Having the agent in the middle can lessen the stress, and result in a higher selling price almost always!
Looking at this from an Appraiser’s eyes your article is excellent. Realtors help keep me up to date on Interior/exterior trends. The largest benefit is they provide easy access to the Subject Property for my Inspection scheduling. FSBO’are just not that flexible. FSBOs don’t often know how to write a Contract to Purchase. I often may not understand the details of the FSBO Contract. It’s not my job to explain what and why they need certain elements in a contract. FSBO doesn’t understand Exposure to the Market. Exposure is a very important part of my appraisal that I am required to analyze. It goes to the Definition of Value. I could go on and on …