Why Using A Realtor Is Better Than For Sale By Owner
For Sale By Owner (FSBO) seems like the easiest route when you can avoid contracts and negotiations between realtors, but is it actually the easiest way to go?
Here’s why using a realtor is actually the easiest and safest option:
- Scams really do happen.
As much as we don’t want to believe it, there are actually scammers in the world. This can happen to both buyers and sellers and unfortunately the only way out is spending your hard earned money on an attorney.
- The liability rests on the seller.
If the seller lists a feature on their house that isn’t actually in their house, the seller will most likely have to pay for that mistake. An agent would have either caught that mistake or they would have covered it with Errors and Omissions (E&O) Insurance.
- Paperwork is daunting.
There is a wide variety of paperwork that needs to be filled out and an untrained seller won’t know what any of it means or how to customize a contract based on the agreement.
- Sellers can get stuck in a bad deal.
If a for sale by owner signs on the dotted line and then realizes there is a problem, well they are stuck. You would have to pay the buyer or take a deal, thus creating a headache for yourself.
- For sale by owners sell for less.
For sale by owner homes are usually on the lower end of the market value, but that’s because they don’t have the time to devote to understanding the market reports or properly market the property.
- You tend to net more money when using an agent.
Sellers usually think that they can save the real estate commission if they just sell their house themselves, but in reality homes that are sold using an agent actually sell for more money. This allows you to net more money at the end of the deal.
- Realtors know the area.
Realtors know what area might suit your family’s needs and where you can get the biggest bang for your buck.