Some homeowners attempt to sell their home on their own, known in the industry as “For Sale by Owner” or FSBO. There are countless reasons this is a terrible idea for the vast majority of sellers, but this is especially true for Chester Springs real estate and the many luxury markets nearby. Below, we’ll go over five reasons you should never sell your home on your own. Of course, if you have any questions about selling your Chester Springs home, be sure to contact the best Chester Springs Realtors here.
You net less money selling on your own
Many homeowners falsely believe that they will save the real estate commission by selling on their own. Conversely, this is the same reason that buyers look as homes for sale by owner – they also want the commission discount. Both the buyer and the seller are looking for a discount! Instead of focusing on reducing fees, homeowners looking to sell in luxury markets like Chester Springs should focus on maximizing their sales price. The bottom line is that you will net more money when you work with real estate listing specialists like Stein Realty Group.
You need to be an online marketing powerhouse
Gone are the days of posting a “for sale” sign in the yard and waiting for buyers. According to the latest National Association of Realtors Report, the overwhelming majority of home buyers found their next home on the internet. The key takeaway: Work with a real estate team that has invested heavily in their real estate website! So, where do buyers come from? Here’s how the numbers unfold:
- 43% on the internet
- 9% from a yard sign
- 1% from newspapers
You are not a certified real estate negotiator
Real estate negotiations are nothing to scoff at. The sheer number of people you’ll need to negotiate with will make your head spin! Let’s take a quick look:
- The home buyer
- The buyer’s agent
- The buyer’s attorney
- The home inspection company
- The appraiser
You’ll need a database of local home buyers
Here at Stein Realty Group, we have a database of thousands of Chester Springs home buyers who have expressed an interest in buying. Most of these local residents have entrusted their information with us because they know we have access to the finest homes before they hit the MLS. When attempting to sell a home FSBO, you’ll be missing the vast majority of home buyers who are in a working relationship with a real estate team like us.
You’ll need a transaction coordinator
The real estate industry is EXTREMELY regulated. In part, this is the consequence of individuals attempting to sell their home on their own. The total number of people selling their home without an agent has plummeted down from 20% to 9% in recent years. Experts believe this reduction is FSBO home sellers is attributed to the legal complexity of selling a home. Here at Stein Realty Group, we hire rockstar transaction coordinators to ensure the sale of your home is smooth and easy!