How Much Money Selling Your Home By Owner Really Saves You
How Much Money Selling Your Home By Owner Really Saves You
We hear it all the time as Realtors, a potential client tells us that they would love to list their house for sale with a Realtor, but someone told them they could list it themselves to save on the commission...
9 times out of 10 those clients call us back when they realize that it’s nearly impossible to conveniently & profitably sell their home themselves. Not only do they have to take time off work to schedule times to let in every single agent and potential buyer into their home (As Realtors, we attend the showings for our clients OR put a SECURE electronic lock box on our listings that tracks every showing for us), but they also have to handle negotiations with potential buyers and their agents, fill in a residential sales contract properly, coordinate a title company, and spend money on signage, advertising and possibly a listing service to enter it into the MLS for them. This list doesn’t even include home inspections or meeting with vendors for repairs! It’s a huge amount of work for a homeowner to take on (especially if they work full time, have small children, etc).
However, for the brave homeowners that DO decide to sell a home by owner and basically take on a 2nd job, sadly the stats aren’t exactly in their favor. According to a new study you can check out HERE, many 'For Sale By Owner (FSBO) properties unfortunately sell for less money than those listed by a Realtor. The study actually concludes that on average, homes listed for sale by owner sell for approximately 5.5%-6% less than homes sold with a Realtor on the MLS when comparing sales data from 2016 thru the middle of 2017. To make matters worse, the study noted that the “aggregate analysis for the data during 2017 suggested even larger differentials” than the percentage noted above. The analysis does not include data about how many FSBO homes either never sell or end up listing with a Realtor after months of no success (We get calls pretty much every week from homeowners that have tried to sell on their own and now need our help after months of work on their end- it’s always heartbreaking).
So in the end, even though homeowners believe that listing a home ‘For Sale By Owner’ may save them some money, it often ends up costing them the same amount or more than it would have to just list with an agent from the start. Additionally, homeowners will spend more of their time working to sell the home, and if it sits on the market for months and months, they’re also on the hook for the mortgage, utilities, property taxes & more that accrue for every month they continue to own the home.
For more information on this study, you can read the article from the Florida Board of Realtors HERE.
You can read the full details of the study from Collateral Analytics HERE.
As always, if you do decide you’d like to sell your home, you can always call the Sandy Hartmann Team for a free no pressure home price analysis. As experienced Realtors, rest assured that we’ll always take the time to review our listing process with you, go over important timelines, explain our unmatched marketing strategies, and even give you a sale proceeds ‘estimate’ to ease any concerns you may have.
About Sandy Hartmann & Associates Real Estate Team of Tampa Bay FL
Sandy Hartmann & Associates Real Estate Team, your Tampa Bay Real Estate source, has been helping home buyers and home sellers in Tampa Bay, FL since 1979. We deliver a brand of real estate services based on integrity and years of expertise that is unmatched. We are the #1 Keller Williams Real Estate Team in Tampa Bay and we are ranked in the top 1% of Realtors Nationwide. In 2017, we sold over 69 million dollars in homes!
Selling a Home? We use some of the most cutting edge global marketing technology available to get homes sold fast, for top dollar in the Tampa Bay area. As a Keller Williams Luxury Real Estate Agent and as a Global Property Specialist, your home listing will appear on real estate websites in not just the United States, but around the world, in multiple languages. That's right, GLOBAL EXPOSURE.
Buying a Home? 1st Time Home Buyer? Looking for an Investment Property? Sandy Hartmann & Associates will help you find the perfect home for sale at the best price, while easing your anxiety and guiding you to a successful home purchase.
Our real estate team was founded with the vision of becoming the real estate team of choice in Pinellas County & Tampa Bay, FL. That means always putting our customer's needs first, and having the integrity to do the right thing, every time. Come find out why Sandy Hartmann and Associates is the #1 Real Estate Team in the City of Seminole, #1 in the City of Largo, and the #1 Keller Williams Team in Tampa Bay.
It's quite a legacy. One we are proud to be a part of.
Find a Home Today With The Sandy Hartmann & Associates Real Estate Team.
Areas we serve go across the Tampa Bay, FL Metro area. If you're looking to buy or sell a house, condo, townhouse, land, villa, or rehab property, we serve all of Pinellas County and Tampa, FL.
10 Great Reasons to Move to Tampa Bay FloridaLow Taxes (AS I
"“My husband and I were in the market for an investment property in St. Petersburg. Since we live overseas, we wanted a place that we could easily rent to our son and his roommates now, that might in the future be the house we retire to. Sandy and her team did an excellent job in helping my husband and I find the perfect property. She was very knowledgeable about the various areas and where our investment would be solid. She went the extra mile, as neither my husband nor I could visit Florida at all during the process. She and her staff handled all the closing details with ease, accommodating our son's difficult work schedule as best she could. She was always responsive to us and available by phone and email, since we could not be there in person. We would definitely recommend Sandy and her team to anyone looking to buy in the St. Pete area.” "