Are you thinking about buying or selling your home? Are you wondering if you need a real estate agent? While you don’t technically need a real estate agent, we don’t advise that you start the process without one. A Realtor’s job is to protect you and your best interests. Realtors work on behalf of their clients to ensure that their rights as either a homeowner or buyer are protected. They negotiate on their behalf and handle any issues that may arise during the sale. People who don’t work with an agent for their buying and selling needs create a tornado of confusion that sweeps up their home, assets, and peace of mind. Burns & Ellis REALTORS® serves clients in Central Delaware with diligence, confidence, and a commitment to ensure that their needs are met and that both homeowners and buyers receive the most bang for their buck.
The Misconception About FSBOs
Have you ever heard the term “Fiz-bo”? This is real estate slang for For Sale by Owner (FSBO). What does this mean exactly? Pretty much exactly how it sounds: a property owner is listing their property without the guidance of a realtor to help them navigate the negotiations, bidding, and closing. Some people think that selling a home without a real estate agent can leave the seller with more cash in their pocket; however, this is a common misconception. Frequently, sellers who go this route end up with less cash. And, aside from less money, the transaction becomes all the more confusing!
But What If…
I already have an interested buyer. Remember, there’s still paperwork, appraisals, inspections, and more. It’s smart to consult a licensed real estate agent to protect your liabilities!
I want the process to go faster. In most cases, FSBO sellers already know the buyer. The big problem is For Sale by Owner listings are typically listed and sold for far less than the home’s actual value.
I want to cut out the commission. A FSBO transaction may seem like you’re getting more money by cutting out the middleman — but that is not always the case. You don’t have the negotiating experience a real estate agent does!
Why a For Sale By Owner Is Always a No-Go
1.) Less money for your home: Statistics indicate that FSBO homes sold at a median of $260,000 last year, dramatically lower than the median of agent-assisted homes at $318,000. A real estate agent knows the value of your property and how much your home is worth. They will help you set an appropriate list price to ensure you receive the amount you’re entitled to for your property.
2.) More work: If you think selling a home is easy, think again. There are many factors that go into selling a property that homeowners are often not aware of initially. Realtors (like us at Burns & Ellis) handle transactions day in and day out. We are trained and experienced in your particular home-sale situation. We work hard to guide you throughout the transaction to make the process smooth and successful. We can see any potential issues that may arise and resolve them before they ever come to light.
3.) It’s risky business: More critical than anything is protecting you and your family from financial harm. FSBO sellers may find themselves in a position where they’re taken advantage of or run into legal issues without a Realtor there to protect them. Remember: Realtors know every aspect of the process inside and out and will easily spot and remedy any red flags. Our priority is you!
What About Buying a Home Without an Agent?
At Burns & Ellis REALTORS®, we have a deep love for our job because it provides us with opportunities to achieve success for people — we find it rewarding! Remember: a real estate agent’s livelihood and representation depend on the satisfaction of our customer base. We work for you. As a buyer, you need someone who will work for you and with you to purchase your next property. If you choose not to use a realtor, you could miss out on many things and be taken advantage of. You have certain legal rights as a buyer, and a real estate agent will ensure that you receive everything you are legally entitled to.
It’s their job to protect you. Also, if you choose to buy a home without a realtor, there is a good chance that you will end up paying significantly more for a home than you would with a realtor. A real estate agent will help you navigate the overly-complicated details, complex contracts, documents, and piles of paperwork you will encounter. Our agents want you to have the best home buying experience so they will explain every detail and contract to you. Realtors are trained and experienced in many different types of real estate transactions. They know what questions to ask, what problems or issues to look for, and how to solve any problems that may arise. It is in your best interest to choose a real estate agent to help you buy your next home.
You Deserve a Dedicated Team of Real Estate Agents On Your Side!
Burns & Ellis REALTORS® have an unparalleled level of market insight and customer service. We know the market and can see the latest trends before anyone else. Our agents have handled many different types of real estate transactions. We are prepared to guide you and preserve your best interests. We love our clients, and we want to help you achieve your real estate dreams. Don’t do yourself a disservice — contact Burns & Ellis today!