Why Choose a Real Estate Agent Over For Sale By Owner?

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With all the fees and costs associated with selling a house, it makes sense to want to save money where possible. Closing costs, real estate fees, lawyer fees and taxes can add up to a lot.

Some sellers are tempted to forgo working with a real estate agent and opt to list their home For-Sale-By-Owner (FSBO). After all, it’s easy to learn about a topic with online resources.

People teach themselves new languages, how to do home renovations and how to become a gourmet cook online, so is it hard to believe that people can teach themselves about selling a house? Why pay someone else to do something you can learn how to do for free, or at least for less than a real estate agent commission will cost?

While it’s true it’s easy to learn about almost anything online, there are some jobs you should stick with professionals for. You can educate yourself about the selling process, but many financial and legal details are involved in real estate transactions. Any mistakes made could cost a lot of money and time down the road.

Read on to find out why it’s worth working with a real estate agent.

Local Market

While you can learn a lot of information about real estate online, it’s no guarantee that what you learn will apply to your area. Different municipalities and provinces have different rules and regulations. When you work with a local realtor in Whitby, you know they know the local Whitby market and all the local laws and processes that have to be followed.

Local agents will also have a local network and the resources to effectively market your home. You might be able to find buyers for your home going the FSBO route, but what’s important is whether they’re the right buyers – the ones who will be most interested and willing to pay more.

A local realtor will follow and understand the local real estate market, which can be very different from other areas, even ones close by. That local experience is worth paying for.

Detailed Documents

One of the parts of the real estate process that is underestimated is all the paperwork that needs to be filled out and filled. Sure, when you’re buying or selling a home you might see and sign some of it, but filling it out without an expert can be confusing and, at the very least, tedious and tiresome.

There’s also all the industry jargon used in paperwork. While it’s easy to look up definitions online, if you misunderstand something or overlook a detail, it could come back to bite you. You want to complete this paperwork properly, and working with a real estate agent can help prevent costly mistakes.

Lower Sale Price

When you calculate what you think your home will sell for and the agent commission, it can seem like a lot of money that you’re better off keeping to yourself. But one thing that FSBO sellers forget is that a real estate agent is a professional. Negotiating the sale price and conditions is part of their job. They know from experience the tactics that will work and which won’t.

The National Association of Realtors’ 2020 Profile of Home Buyers and Sellers found that FSBO homes sold at a median of $217,900, lower than the median of agent-assisted homes at $242,300. If saving money is the reason why you’re considering forgoing a real estate agent, the fact is that you’re likely to walk away with less than if you do work with one.

It’s hard to match the value of working with a professional realtor. Their experience, knowledge and advice can make a significant difference in your experience and final sale price.