In a time of uncertainty and falling home prices, it can be tough to decide which option is best for you.
Do you use an agent or list it FSBO in hopes to save on commission?
Here's an infographic to help showcase 3 differences when deciding:
Now, we want to clarify that, like many statistics, these must be perceived with a grain of salt.
When showcasing the differences in "Average Home Price", there are a few factors that may affect the final sale price of a home. For instance, many homes listed as FSBO tend to be those in poorer communities. Properties such as mobile homes don't typically attract real estate agents due to their minimal commissions.
In fact, some studies have shown that the average sale price of similar homes in similar communities tends to be closer to 0-5% when listing FSBO vs. using an agent.
Now, when we focus on the "Average Time on the Market" & "To-Do List", we begin to see where agents can really showcase their value.
Real estate agents have, on average, a 22% shorter sales cycle than those who list FSBO. In addition, it doesn't take a genius to understand that using an agent can take a lot of time and stress away from you during the entire sales process.
An agent represents your best interest and has much more experience in fields like marketing and legal --- more importantly, any good agent will look to make your life as simple as possible throughout the whole sales process.
So, when you begin to ask yourself, "Should I use an agent or list FSBO?", understand that it is not as simple as saving 3-6% (*even if you list FSBO, you still may need to pay 3% to the buyer's agent*). It's about taking on a massive project with many intricacies that could lead to an underwhelming outcome.
All-in-all, be honest with yourself. If hiring photographers/videographers, hosting open houses/showings, and reviewing legal documents is something you'd enjoy, then by all means, list FSBO.
But, if a stress-free sales process is better suited for you, the value & peace-of-mind your agent will bring you is worth much more than a 3% commission.