It's that time again! Last week we continued talking about the benefits and pitfalls of working in a For Sale By Owner (or FSBO) situation. We learned about the risk of an owner getting a raw deal, FSBOs selling for less money, and why FSBOs are on the market longer. This week, from Inman.com, here are some MORE reasons why it’s worth it to trust an agent to be your representative in the sale or purchase of your next property:
7. There's no Representation for FSBOs.
As a seller listing their own property, you generally don't have someone you can turn to when you have questions or concerns, especially if something happens during the closing process. If you have damage to the property during an inspection, something gets stolen, or any other bizarre occurrence, with an agent on your side, you have someone on your side with resources to help you.
8. Inspections are full of roadblocks.
Let's say you went ahead and did some upgrades to your property. You closed up your patio to make some extra living space. You finished that basement that's been empty since you bought it 15 years ago. Maybe you didn't know the code for the projects and didn't have the right permitting, or your contractor didn't. During inspections and appraisals, that's going to get checked out. If it comes to light that the spaces weren't done to code, the buyer could easily require you get it fixed and show proof - or they walk. A good agent would start by checking the property records and follow up with you prior to listing to make sure the paperwork was all done and the work was corrected if necessary. Thus preventing the loss of a potential sale after days and even weeks or months of already being listed.
9. There isn't enough marketing ability.
Real estate agents have access to one major resource that dramatically improves the marketing and visibility of their listings: the Multiple Listing Service (MLS). According to the 2015 NAR Profile of Home Buyers and Sellers , 50% of buyers found the property they purchased on the internet, and sellers utilizing FSBOs only used online classifieds 6% of the time, FSBO websites 5% of the time, and used MLS 4% of the time. Let's add to that, accessing and listing on the MLS costs money, lots of it. And according to this same profile, 49%of FSBOsdid not actively market their house. At all. This means that you're going to cycle back to the same complication we talked about last week :FSBOs take longer to sell. So instead of not marketing your house to its fullest potential, call a trusted agent and ask them what they can do to market your property.
But that's not all! Stay tuned for next week, when we'll finish out our series of “Why Working with an Agent Is Better Than for Sale by Owner"!
Dusty Rhodes Properties is the Best Realtor in Myrtle Beach! We do everything in our power to help you find the home of your dreams. With experience, expertise, and passion, we are the perfect partner for you in Myrtle Beach, South Carolina. We love what we do and it shows. With more than 22 years of experience in the field, we know our industry like the back of our hands. There’s no challenge too big or too small, and we dedicate our utmost energy to every project we take on. We search thousands of the active and new listings from Aynor, Carolina Forest, Conway, Garden City Beach, Longs, Loris, Murrells Inlet, Myrtle Beach, North Myrtle Beach, Pawleys Island, and Surfside Beach real estate listings to find the hottest deals just for you!
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