According to statistics from the National Association of Realtors, in 2014, only 8% of homes sold in the U.S. were sold by their owners without the assistance of a real estate agent. As a homeowner who wants to keep as much of their profits as possible from the sale of your home, you have to ask yourself if it is actually worth it. The truth is that selling your home as a For Sale By Owner (FSBO) is not always a good idea if you need to sell quickly or want the most money.
The statistics show that the homes that were sold by a real estate agent sold for a much higher price than homes that were listed FSBO. Of course, you have to take into account for the actual differences in the quality and location of the homes. However, the difference in the average price sold between the two was over $39,000. Even if you had to pay your real estate agent 7% of this, you would still end up with just over $36,000 in your pocket.
Another 18% of those who sold their home themselves did not sell their home within the amount of time they had anticipated. A real estate agent, upon getting a new listing, immediately places the home on the Multiple Listing Service (MLS). This places the home in front of every real estate agent in the state. It provides the seller the opportunity to sell their home quickly. FSBO homes will stay on the market much longer.
You also need to remember that selling your home comes with a lot of paperwork and legalities. A real estate agent is trained to handle all aspects of the sale. Their education and training allows them to create a smooth transaction for both the buyer and the seller. As more than 12% of the homeowners who sold their homes FSBO in 2014 stated that the paperwork was hard to understand, it just stands to reason that using a real estate agent is the wise choice.
If you need surgery, you go to a surgeon. If you need a contract written up for you, you go to a lawyer. If you have a house to sell, it just makes sense that you would go to the professional. While you certainly have every right to sell your home yourself, you may actually find that it is more beneficial to list your home with a local real estate agent.