- 90% of home buyers are working with a real estate agent. As a result, For Sale by Owner (FSBO) homes attract less than 10% of the buyers in the market.
- Of all lawsuits in real estate, 98% involve unrepresented buyers and sellers. The right agent knows the law and provides you with legal protection.
- On average, FSBO homes sell for 6-10% less than homes sold by agents. This happens for two reasons: (1) the 90% of buyers who are working with an agent aren’t focusing their search on FSBO homes (see #1), and (2) the buyers who are searching for FSBO homes are deal hunters and investors.
- Of all lawsuits in real estate, 90% are buyers suing sellers. Owners of FSBO homes expose themselves to increased liability since they do not have an agent representing them.
- Only 4% of buyers are ready, willing, and able. Agents qualify the buyers before showing them homes so you only spend your time working with ready, willing, and able buyers.
- Since FSBO homes sell for 6-10% less than homes sold by agents (see #3), you could have an agent do all the work, pay him or her a 6% commission, and potentially still have an additional 4% in your pocket at the end of the day.
- The #1 factor in selling a home is effective marketing. The right agent can exponentially increase the number of buyers who see your home online and in person, and he or she will cover the cost of all marketing campaigns.
- Since FSBO homes will more than likely sell to a buyer working with an agent, you will end up paying a 3% commission even though you do everything yourself. Remember, this 3% is compounded by the 6-10% reduced sales price for FSBO homes (see # 6).
- The #2 factor in selling a home is accurate pricing. The right agent prevents a home owner from making two common mistakes: (1) pricing the home too low and leaving money on the table, and (2) pricing the home too high and wasting precious time and energy.
- The #3 factor in selling a home is stellar first impressions. The right agent will pay to have a professional photographer take pictures and a professional interior designer help stage the home.