For Sale By Owner? 4 Myths of Selling Real Estate Yourself.
1. I know how much my home is worth.
On average, homes sold by owners are priced 10%-15% off of their value in this market. Price is the hardest aspect of selling real estate to get right. Price is also the most important aspect because you could be leaving money on the table. For example, we came across a couple selling a home in northeast Pensacola that was $25,000 below market value. What the owners didn’t know was that in that part of town there is a unique trend that homes with swimming pools are worth much more.
$46,000 is the difference nationally between homes sold by owners and by agents. This doesn’t mean an agent can always get tens of thousands more for your home. However, agents will typically be able to sell it at a higher price point.
2. I can’t afford to pay a real estate commission.
In many cases, you can’t afford NOT to pay a real estate commission. As I just stated, many people don’t understand how much their home is worth. Secondly, an effective listing broker can invest to generate enough demand to get the highest possible offer.This usually means that you can net more profit AFTER paying a real estate commission than if you sold the home yourself.
3. All Active buyers will see my home if I post on Zillow and Trulia.
Zillow, Trulia, and other Real Estate Listing sites actually only reach a fraction of available buyers. You miss out on the majority of buyers by not having your home listed in the Pensacola MLS by a Realtor. This doesn’t even include the exposure to a real estate company’s database of qualified buyers or from advertising homes on social media.
4. I can just take a few pictures of my home because people will just come see it anyway.
Effective agents invest their money to market homes. We pay for each of our listings to be shot by a professional photographer. We also use a hi-tech camera to create a 3D interactive virtual tour of each of our listings which allows buyers access without ever setting a foot inside. Modern consumers value accessibility and a user-friendly experience when searching for real estate online.