I know everyone wants to save money these days. I do too. I look for the best deals out there and I research my options before making any buying decisions. But when it comes to selling your home, Realtors are who you should call. By not choosing to hire a Realtor, you could be costing yourself valuable TIME and MONEY in the long run.
I read recently that CEO of ForSalebyOwner.com, Colby Sambrotto had listed his 2,000sf New York condominium on his own using FSBO websites and placing online classified ads, but after 6 months with no sale, he decided to hire a Realtor. The Realtor advised him that the price point he was listed at on his own was not attractive to buyers and advised him where he needed to be priced in order to attract the right buyer.
Taking the Realtor’s advice proved to be a wise decision on his part. The Wall Street Journal reported that his condo sold for $2.15 million including a 6% commission. That was $150,000 more than his asking price and there were multiple offers. I can only imagine that left him in good negotiating positioning throughout the entire process from Contract to Closing. The Realtor’s commission he was trying to save was well earned. The experience and expertise his Realtor brought to the table was the reason he went from a stale, 6 month old, incorrectly-priced listing to SOLD.
According to the NAR 2010 Profile of Home Buyers and Sellers the service sellers wanted most from their Realtors was to help them price the home competitively. Clearly, the Realtor Sambrotto hired did just that.
Further, the 2010 Profile reported that FSBO sellers were on the decline. Down 5% in 2010 from the 2003 – 2004 market. More and more sellers are turning to Realtors to help them sell in this tough economical time. Realtors are showing their worth to the transaction over and over again.
Before you place a FSBO sign on your front lawn, think about Sambrotto and his list-to-sold story and contact a qualified Realtor in your town today!