My Two Cents: Why You Don’t Need an Agent
Why use an agent when you can sell it yourself? Here are the good and the bad on FSBOs (For Sale By Owners).
According to NAR (National Association of Realtors):
- Over 50% of FSBO sales typically take place when the seller and buyer knows each other.
- Over 60% of FSBO’s end in selling 10% or more “below” the market value than if they had used an agent
- Over 65% of FSBO’s end in in some sort of litigation or legal dispute costing them more than expected savings of selling on their own
- Most FSBO’s take longer to sell than if they had used an agent
I’m not against FSBO and sometimes using an agent just doesn’t make sense. Here’s my two cents: If you know the buyer (i.e. friend, relative, etc.) then sell it yourself and save on the commission. Otherwise, using a good realtor may be the better way to go.