Real Estate Agents vs. FSBO
Using a realtor versus selling your home yourself.
Are you considering selling your home this spring? With the recent fluctuations in the local Fort Payne, AL real estate market, now may be the perfect time to list your home! But, you may be asking yourself, should I hire a real estate agent, or should I list the home myself? Which is the smarter option?
There are many examples of people who decided to take on the home selling process themselves. Often, these people are smart, real estate savvy individuals who have done extensive research in the process of selling their home. Now, unfortunately for most, just because you’ve done your research, that doesn’t mean that you’re ready to take on the sale.
The fact is, you should always enlist the help of a real estate professional. Agents save sellers time, money, and protect them from further liability down the line. They are familiar with fluctuations in the local market, and have all of the experience and knowledge needed to successfully sell Fort Payne, AL real estate
Even if you are sure that you can take on this responsibility, just know that even real estate agents themselves enlist the help of another agent when it comes to selling their own homes. There are unforeseen circumstances that often come up in the real estate industry, and it’s best to protect yourself from a mistake rather than paying for it down the line.
Take a look at the list below to see some examples of the issues that might come up if you decide to take on the home selling process on your own.
- Liability is all on you.
Everyone makes mistakes, but sellers who don’t have the representation of a licensed real estate professional will pay for those mistakes first hand. For example, if you list “hardwood floors” as a feature of your home, and your buyer discovers that the paneling is actually just wood veneer, chances are you will have to pay for that mistake out of pocket. An agent is familiar with situations like this and would likely of caught the mistake before the sale, or encouraged you to purchase E&O insurance.
- Scams happen
Common scams in the Fort Payne, Alabama real estate industry include fraudulent appraisals and loan documentation. There are also many cases of fake purchases with third-party attorneys, and identity fraud. FSBO scams happen to both buyers and sellers, without much recourse, even with the help of an attorney.
- Paperwork is complicated.
In the 2018 National Association of Realtors’ Profile of Home Buyers and Sellers statists show that understanding paperwork was the second most difficult task for FSBOs. Depending on which state you live in, there are a variety of forms needed to make a home sale. These include, but are limited to, a sale contract, property disclosures, occupancy agreements and more. Ask yourself, do you really have a clear understanding on each of these?
- FSBOs are likely to spend more time on the market.
The bottom line is, agents have more tools at their disposal than FSBOs do, which expands their marketing abilities and leads to a sale sooner rather than later. Here at Ole Heritage Realty we feature tools like our Property Search page, which allows buyers to search for homes throughout the entire Alabama area, and gives them searching abilities that encourage a sale.
So if you are considering selling your home on your own, take some time to think about your options and what is best for you and your family. Feel free to reach out to any of the friendly Fort Payne, AL realtors here at Ole Heritage Realty. After all, real estate is our specialty and we are more than happy to give you any advice you might need or answer any of your questions. You can reach the office directly at 256-997-0008.
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