Using a Realtor vs. For Sale By Owner
Posted: September 07, 2021 by Gary and Mikahla Shook
Topic today is advantages and disadvantages of using a Realtor vs doing it yourself as a FSBO.
Using a Realtor insulates you from direct contact with the public who may have interest in your home. Their representation of you in this process allows you to have someone who is skilled at helping buyers and sellers in the real estate buying/selling process. Realtors screen buyers that want to look at your home to verify whether they are prequalified to purchase so that you don’t have “looky-loos” walking through your home without the real ability to purchase it.
Another piece so often overlooked in this market is the strength of the MLS. When you list with a Realtor, you get your property on the MLS. The advantage to that is the sales force that comes with that. In the Magic Valley alone there are over 600 active Realtors that are working to bring buyers to purchase homes. What we are seeing is with this exposure to the “sales force” combined with the right marketing strategy, the Realtor listed homes receive multiple offers and receive over asking price, in most cases. That is HUGE!!!
Now let’s talk about the FSBO route. The three biggest reasons I have seen for sellers to go this route are as follows. 1- the perceived idea that they are saving money. 2- They think they can do it better themselves. 3- They had a less than great experience working with an agent in the past. We are seeing that sellers that list with Realtors are more likely to get more value out of using an agent and multiple offers that drives the price up significantly enough that the perceived FSBO savings absolutely doesn’t exist. Idea of doing it better themselves? I think that ties in with the 3rd reason listed above and ultimately if you have the right agent with the experience and marketing strategy, these two things would not be of concern and you will have an exceptional experience.
In closing, it really does pay to hire the right agent to sell or help you buy your home. As you know, not everyone is created or skilled equally.