Should Properties in Lakeland, TN 38002 be Sold by FSBO or Through an Agent? By Lakeland TN Real Estate Professional Chris Griffith with First National Realty
As a seller looking to get the most out of your house, it’s completely understandable to want to try your hand at selling the house on your own. Before you make your decision, consider these pros and cons about selling a home through a FSBO or through an agent. By the end of this article, you’ll be able to make a much more informed decision.
6% - 7% Commission
The reason sellers opt for FSBO sales is because working with a real estate agent can be seen as “expensive” because of the 6% commission.
However, in reality it almost always costs more to not hire a real estate agent. The NAR has found that on average, sales done through a real estate agent sell for 16% higher than those listed by FSBOs.
Control
Another reason why sellers may opt for FSBOs is the desire to control the entire selling process. While this could be great, it can also be a big pitfall.
Why? Because sellers are often very attached to their homes. They have an emotionally attachment which keeps them from making unbiased judgments or negotiating in an unattached manner.
That’s why it’s so important that if you work with an agent, you work with an agent you trust so that you can share the responsibility while knowing your agent is taking care of what needs to be taken care of.
Finding Buyers
It’s hard for FSBOs to find good buyers. Why?
Generally, real estate agents don’t show FSBOs. Instead, they show properties listed by other agents. What ends up happening is that investors or buyers looking for a lowball deal end up coming to look at FSBOs, resulting in lower sale prices.
Although there are some positives to listing your home as a FSBO, it’s usually not worth the headache and the time and money you’ll likely lose as a result.
To see if a real estate agent is good for you, it’s important to talk to someone who’s been local to the Lakeland TN area for some time. To see if we’d be a match, please give me a call at 901-461-5590 or send me an email at Chris@FirstNationalRealty.com
6% - 7% Commission
The reason sellers opt for FSBO sales is because working with a real estate agent can be seen as “expensive” because of the 6% commission.
However, in reality it almost always costs more to not hire a real estate agent. The NAR has found that on average, sales done through a real estate agent sell for 16% higher than those listed by FSBOs.
Control
Another reason why sellers may opt for FSBOs is the desire to control the entire selling process. While this could be great, it can also be a big pitfall.
Why? Because sellers are often very attached to their homes. They have an emotionally attachment which keeps them from making unbiased judgments or negotiating in an unattached manner.
That’s why it’s so important that if you work with an agent, you work with an agent you trust so that you can share the responsibility while knowing your agent is taking care of what needs to be taken care of.
Finding Buyers
It’s hard for FSBOs to find good buyers. Why?
Generally, real estate agents don’t show FSBOs. Instead, they show properties listed by other agents. What ends up happening is that investors or buyers looking for a lowball deal end up coming to look at FSBOs, resulting in lower sale prices.
Although there are some positives to listing your home as a FSBO, it’s usually not worth the headache and the time and money you’ll likely lose as a result.
To see if a real estate agent is good for you, it’s important to talk to someone who’s been local to the Lakeland TN area for some time. To see if we’d be a match, please give me a call at 901-461-5590 or send me an email at Chris@FirstNationalRealty.com
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