So the time has come to move and you need to sell your home. As soon as you mention it, recommendations for a great agent or from your friends who are agents start coming out of the woodwork. It’s fine that you trust these people, and they may have some great recommendations. But you’re probably still wondering, “Do I really need a real estate agent or should I sell my own home?” It’s only normal to want to maximize your profit when selling your home.
First of All, What Is A For Sale By Owner Listing?
A for sale by owner, or FSBO, listing is when the owner is chooses to sell the home themselves. This may be an unconventional way to sell your home. However, for some fiscally conscious homeowners, it’s the route they choose to go.
There’s a reason nearly 90% of sellers use a listing agent. Selling a home takes time, knowledge of neighborhood trends, and negotiating skills. Eliminating the agent’s commission—6% of the sale price, on average—sounds really good. But make sure you think through the pros and cons of selling your own home. There are some important things to keep in mind when selling your own home.
4 Benefits of Selling Your House Yourself as a FSBO
- Make More Money: You will make more money from an FSBO sale and will pay fewer fees when your home sells. This means you could save thousands of dollars as the real estate agent who typically sells your home will require an average of a 6% commission rate on each property they sell. Your home’s equity is most likely one of your biggest assets. And when you sell using a traditional agent you will pay somewhere around 6% in real estate commissions. With the median home value in the US being $275,000, that is $16,500 paid in real estate commissions. In Seattle, the median home value is $463,800 which would result in $27,828 being paid in real estate commissions. Those are some pretty big numbers which are the exact reason people sell their own homes.
- Control The Process: When you sell your home yourself, you have more control over how the sale process goes. And how all decisions are up to you as the seller. This can be good or bad. But if you want the ultimate control, an FSBO may be the choice for you.
- Devote Yourself To The Sale 100%: If you can devote 100% of your time and attention to the sale of your home, it may be worth considering an FSBO. An agent will have many different clients at one time. Therefore, you may not be the only priority of the real estate agent that is working on selling your home.
- No Rush To Sell: Selling a home on your own time can mean that there is no rush to get it sold and off of your hands. A real estate agent may push you to sell faster so they can get their commission and move on to their next sale as soon as possible.
Remember if you decide to sell your own home, there are some important things to keep in mind when selling a house by owner. The process isn’t always easy. It will take a lot of work and remember, this is one of your biggest assets. So make sure you’re up to the challenge.
There are also other alternatives to either an FSBO or a real estate agent. TRELORA is an alternative that will get you all the benefits you see when using a traditional agent (professional photography, MLS listing, expert guidance, etc). And it’s all for one flat fee of $3,000 in Colorado and $4,000 in Washington. It’s the best of both worlds.
It’s up to you to decide which option works best for you. But having expert guidance can help you get the best “bang for your buck” to reduce your stress and sell for a great price without paying traditional agent commissions.
Trelora real estate serves the Colorado Front Range, Summit County and Seattle Metro Area and our mission is simple: full service real estate for a fraction of the cost. When you hire a traditional agent to help you buy or sell your home, man cave or no, you pay that agent 3-6% of the home’s value.
When you hire Trelora, you pay 1% rather than a variable commission on the price of your home. You’ll also get best-in-class customer service. A team of expert agents who close hundreds of deals per year. And a proprietary technology platform that puts you in the driver’s seat.
Christopher has been been in the Real Estate industry for 8 years and has had the opportunity to close over 1,000 deals while acting as the Managing Broker for thousands more. Christopher is passionate about continuing to find ways to simplify, maximize, and serve Trelora’s clients exceptionally well and spends his time building teams to deliver high levels of service. When not doing real estate Christopher can be seen training for marathons and ultra relays with his 2 year old daughter, eating pizza, and drinking a steady stream of Diet Coke.