Realtor® versus FSBO
Over the span of the last 10 years, I have watched this battle evolve. When a home owner decides that it is time to part with one of their largest investments, a house, then they have a huge battle ahead of them. They have to pit Realtor® versus FSBO. Before I go any deeper, let me say that in 2007, I attempted the FSBO route. Even with all of my marketing skills and connections to the real estate world, I was unsuccessful in doing what I set out to do. I failed miserably and had to rethink my strategy. If I had to do it all over again, I would have hired someone that could have marketed it for me. With that said, let’s tackle the question between using a Realtor® or selling your home FSBO style.
For those of you that have seen FSBO but do not understand it, it simply means For Sale By Owner. We all know what a Realtor® is, but I fear that many people do not know what Realtors® actually do. A Realtor’s® duties are many, but for the sake of an argument, let’s just state that they are there to market and sell your property for the highest amount that they can. They work for you, the seller, and they keep you out of legal hot water as well. I can sit here and tell you all day long what the difference of using a Realtor® versus FSBO, but why should I when I have access to many different Realtors®.
With that said, I polled the members of PREP for their responses on this very subject. I would like to thank the ones that had the time to respond. If you click on their names, you will be able to visit their sites. If you are in the area any of these great Realtors® serve, I so recommend that you contact them for your real estate.
Jodi Smith of Keller Williams Realty Consultants Agent out of Roswell, GA had this to say:
A Realtor® provides legal information to Sellers in regards to the new Georgia contracts, Truth in Lending and HUD changes. The market price of homes changes continuously. A Seller needs a Realtor® to make sure they are selling their home at the most competitive price so to attract more buyers.
Lori Cain of Chinowth & Cohen Realtors in Tulsa, OK adds:
As a Realtor® who works with both Buyers and Sellers, I know what Buyers are looking for and how Buyers shop. Coupled with knowledge of local market trends, I am equipped to reach your target Buyer, thereby improving your chances of receiving a higher offer in a shorter amount of time.
Kay Born of Solid Source Realty out of Big Canoe, GA gave this input:
Studies show that sellers who use a REALTOR® get a much higher price for their home. If you represent yourself, you have a fool for a client.
Brigita A. McKelvie of Keller Williams Real Estate serving the Lehigh Valley area of PA stated this:
Buyers tend to take advantage of FSBO’s and will bring in low ball offers because they know the seller is unrepresented. A REALTOR® has experience negotiating and will get not only the best and highest possible price for the home, but also negotiate any other items that may come up such as contingencies. A good REALTOR® will make sure all goes smoothly with the least amount of worries to the seller right up through settlement.
Jeff & Grace Safrin of F.C.Tucker 1st Team Real Estate out of Valparaiso, IN threw in:
Value added services seperate FSBO sellers from professional REALTORS®. In today’s market, pricing a home correctly, marketing it to the masses, qualifying potential buyers, negotiating the contract, is the easy part. The REAL WORK in real estate transactions these days with changing lending rules is working through multiple issues ( inspections, appraisals, titlework, escrow, etc..) to get the property to close!
Terrylynn Fisher of Diablo Realty in Walnut Creek, CA added:
My job as your agent is really threefold…to be a counselor, a negotiator, and a facilitator. You benefit from my experience of having successfully marketed and sold hundreds of homes in the past 30+ years.
You’ll benefit from not only what I do, but more so from what I know.
As your negotiator I will utilize every technique that I have ever learned to impact the sales price and terms in your favor. A skilled negotiator with a negotiating strategy can net you 3 or 4 or 5% extra.
As your facilitator, I’ll insure that nothing falls through the cracks, legalities, contingencies, inspections, disclosures and timely coordination of all the players, that is my job. Can you do this on your own, sure, but the largest investment many families make in a lifetime is at risk. We spend 100% of our time on real estate, hiring a Realtor® allows you to have expert advice and counsel and spend your time living your life.
So, with all of this input, one has to wonder why anyone would go it alone and take the FSBO route when selling a home. If you have questions about this article or any article written here, please feel free to contact us. We are here to serve our members and our readers.
Source: http://positiverealestateprofessionals.com/blog/2009/11/16/realtor%C2%AE-versus-fsbo/
Lori Cain, Realtor
Chinowth & Cohen Realtors
phone: 918.852.5036
fax: 866.483.0520
e-mail: lcain@tulsarealtors.com
web: www.LoriCain.com
