Sellers are Choosing Real Estate Agents Instead of Selling By Owner

For-sale-by-owners are rare nowadays. In fact, the number of FSBOs has dropped to record lows over the past year or so.

With today’s more complex transactions--such as short sales and foreclosures and frequent changes in mortgage lending--more sellers are finding they need the help of real estate professionals to guide them through the every-changing and increasingly complex process.

Sellers were once enticed to try to sell their homes without realtors because they thought they could save on commission fees. Sellers are now realizing that if they don’t use an agent, it will likely cost them more in the long run,

Many sellers consider selling their home themselves with the idea of saving the commission cost of paying the agent. Sellers do not always realize that the buyers are aware that there is a savings in commission and want that savings for themselves. Buyers will typically lower their offer price so that they get the advantage of the savings. Since it is a buyer's market at this time, buyers will probably win this negotiation with a huge price reduction, possibly selling for far less than the cost of the commission.

In these complex times, it is wise to consider an experienced and educated realtor in order to avoid the many pitfalls that can sabotage real estate transactions today.