What’s the difference between selling on your own or with an agent?
I actually sold my very first home by myself as a FSBO listing. I made a lot of mistakes and learned a ton, but it’s what got me into real estate. If you want to get into the industry, I’d recommend selling your house by yourself; you’ll feel all the pain that your clients will feel and you’ll learn a lot by using your own money to do it.
However, if you’re not looking to get into real estate, there are a few things you should know about selling your house on your own. For one, you won’t always net the most money possible. You’ll probably have to pay a buyer’s agent, which means you’d only be saving 3% on the selling side. Plus, there will be a professional on the buyer’s side who knows much more than you.
When I sold my home on my own, I didn’t read the contract right; I assumed things that weren’t in the contract, and when we got to closing, things weren’t going the way I thought they would. However, things went exactly the way the buyer expected because they had a professional on their side.
At the end of the day, FSBO listings sell for 12% to 15% less on average. We had one listing where the closest comparable was $335,000. Had the owners sold it themselves, they might have been able to get that price for the home, but because of our marketing and the demand we created for it, we got them $15,000 more from a cash buyer who didn’t ask for an appraisal. Those clients had sold the last four homes they’d owned by themselves, but after selling with us, they said they’ll never do it again because it’s a lot of hassle with no payoff. We know how to get a buyer to write contracts the way sellers want them.
So if you want to come out ahead on your next home sale, reach out to us for any questions or assistance you need. We’d love to help you.