Maximizing Home Sale Value: Why Avoiding a Real Estate Agent Might Cost You Thousands
Is for sale by owner the right option for me?
If you've been considering putting your house on the market in the Green Bay, Appleton, or Oshkosh area, this is an episode you won't want to miss. Today, I'm excited to share insights from a recent chat with KK, Kristen Ambos from Guaranteed Rate. She shared some real-life scenarios that shed light on the potential pitfalls of selling your home as a "For Sale By Owner" (FSBO) and the importance of expert guidance.
The allure of selling your home without a real estate agent can be tempting. After all, it seems like a simple way to save money on commissions, right? But what if I told you that this approach could cost you tens of thousands of dollars in equity?
Not pricing your home correctly could cost you
Kristen shared two compelling examples where FSBO sellers left significant amounts of money on the table. In the first case, the seller bypassed a real estate agent to avoid perceived costs. However, upon appraisal, it was revealed that they undersold their property by $55,000. In the second case, another seller chose to go FSBO and ended up missing out on nearly $88,000 in potential equity due to underpricing.
These examples underscore the importance of pricing your home correctly and seeking professional advice. While it's true that selling a home can come with expenses, mispricing your property can be even more costly. Partnering with a skilled real estate agent can provide you with valuable insights into the local market and help you position your home competitively.
Not all real estate agents are the same
But the benefits of working with a real estate agent go beyond just pricing. They also offer a wealth of knowledge about marketing strategies, negotiation skills, and legal aspects of the sale. When selling your most valuable asset, it's crucial to have someone who can guide you through the process, ensuring that you make informed decisions and maximize your returns.
Real Estate Agents are more than just putting a sign in the yard
One point Kristen emphasized was that real estate agents provide a comprehensive service that extends beyond simply sticking a "For Sale" sign in your yard. They have dedicated staff, resources, and expertise to ensure that your home is showcased effectively to a wide range of potential buyers. Additionally, they bring the knowledge needed to handle legal and contractual matters, protecting your interests throughout the transaction.
While there's no doubt that some FSBO scenarios can be successful, the stories shared in our conversation highlight the risks involved in trying to go it alone. Kristen and I both agree that the peace of mind and potential financial gains from working with a professional far outweigh the perceived costs.
So, if you're thinking about selling your home, consider seeking the guidance of an experienced real estate agent. They can provide you with insights into your local market, help you accurately price your home, and ensure that you make the most of your investment. Remember, the decision to sell your home is a big one, and having the right team by your side can make all the difference.
Here's to maximizing your home sale success!