Business Magazine

Should You FSBO Your Farragut Home?

By Knoxvillehometeam @KnoxHomeTeam

for-sale-by-owner-signWhen it comes time to selling your Farragut home, you’re faced with the decision to hire a REALTOR® or  sell your home yourself. For many sellers, for sale by owner (FSBO)  can be very appealing. After all, you can save money by not paying a commission to a REALTOR®. So when it comes down to it, should you FSBO your Farragut home?

One important thing to consider is that statistically FSBO have lower success rates and prices compared to those that use a REALTOR®. According to recent surveys conducted by the National Association of REALTORS® (NAR), only 10% of all real estate transactions are FSBOs. The typical FSBO sold for $150,000, while homes that used a REALTOR® sold for $215,000. While you might have to pay a commission, you would be making more money in the long run even including the commission

Another thing to consider is that selling your Farragut home is more than just putting a sign in the yard. Selling a home requires a bit of work. An essential part of selling your home is making sure that it is effectively marketed to the widest possible audience. The more potential buyers that see your home, the better. Just putting an ad up on Craigslist or a FSBO website may not be the trick. Your home needs to be where the buyers are and a majority of buyers use the Multiple Listing Service (MLS) to find homes. In order to have your home listed on the MLS, you need to use a REALTOR® to sell your home. In addition to taking care of the marketing, you will have to field through phone calls from potential buyers, take care of setting up showings, and be present during showings.

Finally, selling your home isn’t always easy and requires some knowledge of the real estate industry, in order to protect your best interest. A REALTOR® can help assist you in pricing your home competitively, marketing your home, negotiating a contract, and answering any questions throughout the process. When it comes to selling your home, its ultimately your choice if you sell it yourself or use a REALTOR®. But, when you use a REALTOR®, you increase your odds of getting a better price and taking the work and stress off your shoulders.

Are you thinking about your home on the market? If so, please let us know if there is anyway the Knoxville Home Team can assist you. You can contact Rick at 865-696-9002 or by email at [email protected]. Kati can be reached at 865-392-5880 or by email at [email protected]. Give us a call today for your free West Knoxville Home Valuation.

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