In some housing markets, home inventory is low and homes sell quickly. That is spurring a trend for home sellers to consider going the For Sale By Owner (FSBO) route instead of the traditional Realtor-based home selling transaction.
In addition, many online real estate sites are highly-clicked-upon in home searches, including Zillow, Yahoo, Trulia, Craigslist and the like. And, these sites are completely free of charge. For years, with the onset of social media and the digital age, online real estate sites have suggested their business models would surely revolutionize the real estate industry.
But, overall, it seems that most people have maintained their belief in hiring a pro to handle the real estate transaction.
So where do you stand on the FSBO versus Realtor debate?
Recent data released by a National Association of Realtors report showed that 9% of homes were sold without the help of a real estate agent between July 2012 and June 2013, down from 14% in 2003. In addition, 40% of those who sold on their own during that time period already knew the buyer, meaning they sold their home to an acquaintance or family member.
It’s no denying the value of a real estate agent. The advice they can provide, including local market pricing, comparable listings, knowledge of fair housing laws, expertise on negotiating a contract, and how to work with lenders during a time when obtaining a mortgage is definitely more challenging.
That said, those looking to trim their bottom line of expenses when selling their homes may be tempted by the online companies who boast their abilities to sell homes without the commission fees and additional costs.
As a home seller, it is a decision you have to make given your expertise in home selling, your timeframe and the overall savvy you have in handling such an important and large transaction.
Rowland Title Company 