Is it better to sell your home FSBO or get an agent?

Question

I am selling my home and want to same money i would have to pay a agent but I am not sure that is the best thing to do.

Answer 1

There are many different things to think about, first think about if you feel you have the time and patience to sell your own home. When selling your home yourself you will be receiving ALL of the phone calls yourself, your home has to be ready at a moments notice just in case that special buyer knocks on your door and also do you think you can market your home as well as a Realtor can?? With an agent you can require that you have at least 24 hours notice before a showing, they will take all the calls and answer all of the dead end questions from non-buyers, an agent will do you marketing and advertising for you with their money. Keep in mind that they can only do this because when they sell your home they will be taking 5%-6% of that sale as their commission. As long as you feel you can sell your home for enough money to cover your debt and the agents commission it will probably save you some headaches to find yourself a good agent. Best of Luck!!!

Answer 2

Use a Realtor. Buyers don't like to deal with homeowners. They're much more comfortable having an agent. Also if they buy from you, they'll expect a discount because there is no commission involved. When all is said and done, you won't save much selling your own house even if you did everything right. Not many people do anything right the first time.

Don't do any type of home improvement other than painting you do yourself, and small things like planting flowers or fixing a hole in the drywall. Anything beyond that is an almost certain money loser. You're buying new and selling used. Your agent wants a quick sale at a high price for a high commission. If they recommend putting a new kitchen in, don't even think about it.

Answer 3

I have read that fizbos generally sell for about 15% less than agent sold homes. There are reasons for that. A FSBO does not have the advertising resources that the agents do. It is hard to get your house listed on multiple sites. The MLS gets them on a lot of sites. Also, if you list it with a realtor then it is automatically available to every realtor with access to the MLS.

This is not always true. Places with really hot markets can give sellers enough advantage to sell without an agent. In those markets the buyers are pouring over every resource out there to find the homes at the best price they can find.

Answer 4

Definitely get an agent!

A REALTOR has all the tools to properly market your home. They are not playing a "hit & miss" strategy, plus having it on the MLS is a tremendous benefit!

Most FSBO's end up listing with an agent after their homes sit anyways! Unless you own your home outright, time is money with the mortgage & taxes. You'd probably get more in a sale if you have a negotiator working on your behalf, and that should be a wash on what you'd lose otherwise in the sale price and the time it would take to sell it against the cost of hiring the agent.

Answer 5

This is what I tell my Clients when they are looking for a FSBO propety.

YOU CAN ALSO DO A FOR SALE BY OWNER - I WILL HELP YOU & THE SELLER FROM START TO FINISH, TO CLOSE YOUR LOAN. I DO IT ALL, ORDER TITLE, ANY SURVEY’S NEEDED, INSPECTIONS IF NEEDED, ORDER PAYOFFS ON SUBJECT PROPERTY IF THERE IS A MORTGAGE ON THE PROPERTY. DO THE PURCHASE AGREEMENT EVERYTHING PERTAINING TO THE LOAN.

ALSO, It greatly depends if you need help with closing cost, (The seller could do Seller Help toward your closing cost). If that is the case, I normally tell my clients NOT to hackle over the price, since you are asking for closing cost help - especially if the home is thru a realtor, and the seller has to pay the realtor their fee which runs from 3-6 percent of the selling price, and you ask for 3-5 percent toward closing cost -assistance) Follow me so far?? You may find a For Sale By Owner, they are sometimes more willing to help you with closing cost(s) associated with your loan, since there is no realtor fees. Cost associated with your loan. You will need to pay for the appraisal up front (when it being done). You will need to pay for The Home Owners Insurance Coverage for 1 YEAR . The seller can help you with up to 6 percent of closing cost. So the title fee, lender fees, underwriting fees, broker fee, processing fee, flood cert, etc can be paid for by the seller.

The Buyer and the Seller get together, and the Seller lets the Mortgage Broker know what they expect out of the sale (the final) The seller does have their share of title expense and closing cost associated also, but you would have that regardless if you went with a FSBO or an agent at a Real Estate Company.

You could try it on you own for say 2-3 months as a FSBO and see if you get any offers - if that does not work than consider a Realitor.

Realitors are good ppl, have nothing against them - work with them too, but with the market being as hard as it is right now, many ppl do not have the downpayment needed. Lenders are tightening up BIG time on 100 percent financing.

Good luck to you

Answer 6

Agents are over rated. Every one that says get an agent only says it because they are agents and they want to get your business. You can do a FSBO and pay an agent to list your home on the MLS for a flat fee. So you home is now available to all the other realtors and usually listed on realtor.com.

If you do a flat fee MLS listing you will still have to pay the buyers agent commision usually 2%-3% but you will save thousands not have to pay a seller agent commision.

Plus with most agents you will only see them twice in a soft market once when they list the property and six months later when they ask you if you want to list the property again. Most don't do any marketing other than listing on the MLS.

Answer 7

Definitely get an agent. However, there are many different types of agents out there. I would go for a flat rate agent. These agents will sell your home for a flat fee, plus expenses. This will save you heaps of money.

Check out this site: http://beachside.helpusell.com/AgentHome/Homepage.aspx

There are several other firms like this.

Answer 8

Use an agent they have more resources than you do and will be better able to tell you what you need to do to sell your home.