Ways to Sell A Home: A Westchester New York Realtor or FSBO
Selling a home is a complicated process, even for those that have been through it before. Every house is different and each situation is different. It can be an immensely stressful season, especially when also dealing with other commonly coinciding anxiety causing factors such as:
- Finding and coordinating the purchase or rental of the next home
- Physical stress of moving belongings
- Feeling unsettled with your life packed up
- Emotional stress of moving to a new town
- Stress of preparing to start a new job
- Stress of leaving behind friends and family
- Possibly dealing with a traumatic event as a reason for the move
There are really only two commonly known ways to sell a home: Sell it on your own (For Sale by Owner, aka FSBO) or work with a local Westchester New York realtor.
Choosing the FSBO Journey
Many sellers choose to go it alone in order to pocket that 5-7% commission for themselves. For a small $100,000 home, that’s a cost of $5,000-$7,000 just for managing the selling process. It’s a hefty chunk of change, especially for a higher value property. However, there are multiple downsides to consider before choosing the FSBO option.
An experienced Westchester New York realtor knows the legalities involved with selling a home. They know all of the ins and outs and the mistakes that can be made because, if they have been around long enough, they have more than likely made a few themselves. Making misrepresentations of the property, even in error, can result in expensive repairs or lawsuits that all fall back on to the FSBO seller to pay. Agents know what to look for and also carry liability insurance to address any mistakes that happen during the selling and process.
Making A Bad Deal
Making a bad deal due to not fully understanding the market value of a home can end up costing a seller thousands of dollars. Once the contract is signed, it is too late. It is imperative to understand current market conditions and the true value of the property to be sure the deal is fair. An experienced Westchester New York realtor is well-versed in current market trends because they are dealing with it every day. They see the more subtle nuances that FSBO sellers can easily miss.
The fact is that real estate agents are professionals with experience. They know how to efficiently market a home to get it sold at a the right price in the quickest time frame possible. The more time a property spends on the market, the more costs involved. An experienced Westchester New York realtor is not going to waste time playing trial and error games with their marketing tactics. They know what works. Professional licensed agents also have access to marketing channels that individual FSBO home sellers do not. The homeowners time is also valuable. Factor in that extra time spent learning the home sales and the cost adds up even more.
Many FSBO sellers learn quickly that they may be in over their heads and wonder if the savings they anticipated was even really a saving at all.
Choosing A Westchester New York Realtor
With the many factors involved with selling a home, the majority of people choose to hire a Westchester New York Realtor to help smooth out the process, avoid liabilities and ease their personal stress. It is a big financial cost to hire an agent, but as we already discussed, there are many benefits to having an experienced professional lead the way through the buying and selling journey. However, there are some negatives to consider as well.
Again, the biggest down side to choosing an agent to help sell or buy your next home is the cost. That 5-7 % can add up to a lot. An individual FSBO seller that already has a substantial knowledge of the selling process could be better off going it alone.
Being Tied to Their Schedule
When working with a Westchester New York realtor, you’ll likely be sharing their time with many other sellers and buyers. You may have to sacrifice your timing plans to their schedule. Your time frame will be dependent on when they have available time to work on your selling process. Selling FSBO leaves the seller with more control.
Working with The Wrong Agent
Choosing an inexperienced or ineffective Westchester New York realtor could mean you end up spending your time checking behind their work, doing your own research or even hiring your own attorney to review documents. In the end, this could leave you with both the extra work of FSBO and less profit in your pocket.
The Third and Lesser-known Property Selling Option
What many modern property sellers do not consider is how much times have changed in the process of finding prospective buyers. Traditional Westchester New York Realtor agents have less of the selling process on their shoulders due to modern technology and the power of the internet. It has been estimated that Over 90% of buyers find their ideal property online before they even contact an agent. The accuracy of online videos means less time-consuming home showings for agents. The convenience of e-mail means less meetings for paperwork.
Here at Home Finders, we believe it is time for a change. It is time that sellers be properly rewarded with a value proposition that Is more in accordance with the way we live. That is why we are disrupting [link to other blog post] the real estate industry with the full-service of a traditional agent at only a 3% commission rate. Hire us as your Westchester New York Realtor and let us help you keep more profit without the effort of FSBO.