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Realtor or FSBO, that is the question...

By
Mortgage and Lending with Approved Mortgage Group NMLS #1287673

FSBOI have several clients every week who are looking to sell their current home and move into another.  The most common question that I hear from them is:

Do you think we should list our house with a Realtor, or do you think we should list it ourselves?

Everyone wants to hear that trying to sell a house by owner is the best thing to do because it saves money.  However, you have to think of it on a broader spectrum, not just the "cash in hand" aspect of the sale; you also have to consider marketing expenses, time on the market (a.k.a. mortgage payments), the fact that you have no contract negotiation experience which could lead to serious trouble, and all the miscellaneous stress that comes with selling your home by yourself.

Let's put it this way; these people are basically calling for a referral.  They are asking me to advise whether I would use a Real Estate Agent, or "whatever they do for a living" when dealing with their biggest asset.  To be honest, would you rather list your house with a Real Estate Agent (and trained professional), or someone that learned a few things on HGTV?

Bottom line: use a professional, and list with a Realtor.  It will save you time, money, and (most importantly) your sanity!

 

Posted by

Andy Scherer

Loan Officer & Marketing Director

Approved Mortgage Group

610 Farm Lane, Doylestown, PA 18901

Mobile: 203-257-5279

Email: andy@approvedmortgagegroup.com

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Mmmmm.  I'm a real estate broker in MD and VA with about 1500 closed contracts behind me, plus about 2500 more from my agents.

When I sold a home in 2005, I listed it with a full service broker and let them do the job.  Risk reduction, time, two heads are better than. . . , aggravation, etc. said, "Lenn, don't do it yourself".

 

Oct 10, 2007 10:14 AM
Mana Tulberg
805 County Real Estate - Camarillo, CA
Real Estate Agent - Camarillo CA
There are too many emotions and attachments involved when one wants to sell his/her home. Even Realtors are advised to choose another Realtor to sell their home.
Oct 10, 2007 10:30 AM
Duane Mason
Keller Williams Realty - West Hartford, CT
Great post Andy.  So many FSBO's get into it and don't realize the work involved.  Some do get lucky and sell right away and without problems while others tend to learn the hard way.
Oct 10, 2007 04:11 PM
West Hartford CT Real Estate Agent | West Hartford Realtor | www.CTMike.com
ERA Broder Group - West Hartford, CT
You said it! I've actually shown some of these limited service, entry-only FSBO listings that are on the MLS. Even that is a big mistake. Without professional representation, the home owner/seller is in the dark and playing with fire by attempting to sell on their own. Not to say that it can't work out... I've seen it done... but time is money. Realtors have their networks and know the folks who SELL houses.
Oct 10, 2007 05:26 PM