Data suggests an increasing number of people who want to sell their homes are going the “for sale by owner” route. After all, they think the market so significantly benefits sellers that real estate sales basically push themselves through. Of course, long-time real estate professionals know better, but it’s not always easy to get FSBO sellers to see the other side of the story.
Given the growing popularity of FSBO efforts these days, it might be wise for real estate agents to shift their strategies when it comes to reaching property owners as a means of helping both themselves and those hopeful sellers. Often, the decision to go FSBO comes because consumers don’t fully understand the value – even in today’s seller-friendly market – of having an experienced agent to lean on throughout the sales process.
How to get them onboard
With this new reality in mind, showing off why working with an agent is beneficial should be job No. 1 for any agent trying to cut into the number of FSBOs in their areas. Perhaps the biggest solution here is that agents know what consumers often don’t: How to properly price and market a home. While owners may feel properties sell themselves, they might not know where to actually begin when it comes to setting an asking price or getting the word out that a property is up for sale. That’s where an agent’s years of experience can go a long way.
Further, agents can often highlight their value by letting owners know exactly how many homes they’ve helped sell in the past year or six months, which can be especially important when agents aided in sales of homes similar to what FSBOs are trying to put on the market. That kind of effort may show sellers that agents know exactly what they’re doing when it comes to properties with similar features.
Show off potential issues FSBOs face
Meanwhile, if homeowners think selling their properties is easy, pros may also want to highlight how working with an agent pays for itself in terms of peace of mind, let alone dollars and cents, according to long-time real estate professional Sharon Harkness. For example, sellers simply may not think about how they’re going to have to wade through oceans of paperwork or how much they will have to do to properly market a home in the first place. And even if they can connect with prospective buyers through things like online listings, actually dealing with those shoppers can come with a lot of ups and downs.
Showing off the fact that when it comes to these issues, owners often just don’t know what they’re getting themselves into, can help to dissuade them from going the FSBO route. An agent’s job in selling a home is hard work, and owners typically not only benefit from it in terms of not putting in hundreds of hours of work, but also when it comes to saving money on marketing their properties and getting higher sales prices.
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