By Mendel Fellig
Selling your own home may sound easy and cost-efficient, but there are many details of home-selling that can be extremely overwhelming and beyond the scope of googling, especially in Miami. Over the course of my real estate career, I have seen multiple for-sale-by-owner deals hit dead ends for various reasons, some without even having the opportunity of getting to the closing table.
Whether you live in New York or Miami, here are three crucial reasons why using a real-estate professional during any sales transaction will get you a better outcome.
- Save Your Time and Money While Getting Paid More on Your Home.
Statistics show that when owners try to sell their home on their own, they receive less money on average and it sits on the market longer, while they still have the responsibility of paying the buyer’s agent commission during the transaction process. Personally, I have seen this happen. After meeting with an FSBO owner and presenting a listing presentation, the owner decided to sell on his own, only to discover their listing sat on the market longer and sold for $100,000 less than competitive market price.
- Brokerage Power + Their Network = Advantage and A Faster Sale.
Having the power of an established brokerage and experienced agent with a marketing team behind them is a valuable resource to sellers and not comparable to a seller working alone. While an owner may feel that he has a good network in place, a broker has multiple attorneys, inspectors, general contractors, mortgage brokers, etc., to help with all issues. Did you know not all lenders will lend to every condo? An experienced broker can navigate these unpredictable challenges that arise and let you focus on other important areas of your life.
- Would You Rather Trust a Professional or Risk Doing Things Yourself?
We all know that while living in today’s do-it-yourself world, qualified professionals often yield the best return on time and money. In real estate, there are small but highly critical details that go beyond the scope of most FSBO sellers’ experience or knowledge in home selling.
Being with Compass has allowed my clients to tap into a large network beyond the scope of the MLS; we have the opportunity to promote listings before they hit the market, as well as access to the newest program, Compass Concierge, which allows us to take a renovation budget and apply it to the home to help sell it for top dollar, and then pay for the renovations in full when the home sells. Plus, we have agents all over the country allowing us to communicate with buyers that are not just in the local or tri-state area.
One wouldn’t consider installing a new roof or air-conditioner unit without a qualified contractor; selling a home should be given the same consideration. Why would you not work with an agent who has experience in the industry, a proven track record, and, most importantly, has the same goal as you: to sell your home? The room for error is smaller, the timeline of selling your home is faster, and you allow a professional to focus on making the job seamless for you.
Mendel Fellig with the Mendel Fellig Group is a licensed Compass real estate adviser in the South Florida market specializing in residential condos and homes, multi-family, and net lease investments. For more information or to contact Mendel, please call 305-632-8803 or email firstname.lastname@example.org.