When it comes to selling a home, the process can be stressful, exciting, or in many cases, both. Listing your home in a booming market allows you to take advantage of competitive offers, quick home sales, and above-average selling prices. However, it also means that you have to deal with visits, contracts, inspections, negotiations, appraisals and lots and lots of paperwork. In other words, things can get complicated pretty quickly, even for the most seasoned salesperson.
The knowledge and time required to sell a home leads most sellers to work with a real estate agent when it comes to listing their home. It can help reduce stress, as an experienced expert is at the helm to navigate. But while it is common for most sellers to opt for the assistance of a real estate agent when selling their home, it is certainly not required. As a seller, you have the option of listing your home as a sell-by-owner property or as an FSBO. An FSBO is a property that is sold by you, the owner, without the help of a licensed real estate professional. Selling your own property is legal in all 50 states, and while it’s less common than hiring an agent to sell your home, it can be profitable by removing agent commissions and other costs from the equation. .
That said, it may be a good idea to consult with a real estate agent, even if you are listing your home yourself, to see if they will share with you the necessary data on home selling prices and comparables in your area. Without this type of information on hand, you might be surprised when selling your own home. Sell ââby owner properties tend to have big differences from agent assisted home sales when it comes to price, time to market, and other important factors – and whether you take the FSBO route. , you need to know what to expect.
If you want to know how owner-assisted home sales compare to agent-assisted home sales, UpNest compared data from the National Association of Realtors’ 2020 Profile of Home Buyers and Sellers to see how sales compare between homes that are sold with the help of an agent and homes that are sold by owner himself (FSBO). This survey looked at buyers and sellers of homes purchased between July 2019 and June 2020, and a section analyzed the differences between homes sold with the help of an agent and FSBO homes sold. This story includes information on the median sale price, median time to market, location of the home, type of home, and incentives offered to buyers. Here’s what the data showed on the comparison of FSBO and agent-assisted home sales.