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Homes are flying off the market. This leads many sellers going the For Sale By Owner route. Today, we’ll go over the pros and cons of listing your property as FSBO.
For instance, if you sell on your own, you know you have a set number. If you get that price, you can walk away from the transaction without having to pay a 6% commission to the agent.
However, what you don’t know is that there are multiple buyers out there willing to pay more for your property. Since the market is so competitive, a lot of buyers make offers with an escalation clause. They are willing to up their offer in order to beat other buyers. We’ve seen properties sell for $50,000 above asking price. Not only that, most of these buyers will waive inspections and be flexible on the closing date in order to get the property.
If you list on your own, you’re missing out on these great buyers. Your agent will position your home to attract multiple offers, and work hard behind the scenes to keep the transaction on track. An agent can protect your interests and keep everything running smoothly.
Additionally, sellers in Washington state are required by law to fill out a seller disclosure statement. You can fill this out on your own, but if anything is filled out incorrectly and a problem arises later on, the buyer could sue you. An agent will make sure that the seller disclosure is filled out correctly.
Finally, when buyers look at houses, they don’t want to see the owner there. If you sell on your own, you will be responsible for showing the property. Buyers get very uncomfortable when they go to a property and the owner answers the door.
Ultimately, you can sell your home on your own, but hiring an agent comes with many benefits. If you hire an agent to showcase your property properly, there’s a 90% chance you will get more money than you would negotiating yourself.
If you have any questions, give us a call or send us an email. We would be happy to help you!
