“Why would I pay a commission when I can do it myself?

“Selling a home can’t be that hard.”

“I think we’re going to sell it ourselves!”

These are just a few things I’ve heard from homeowners considering selling their homes themselves. Of course, there are times that For Sale By Owner, or FSBO, makes sense. But overall, there are great challenges that come with listing your own home.

The Statistics 

Nation wide, 90 percent of homeowners decided to work with real estate professionals when selling their home in 2021 (NAR), and only 7 percent of homeowners chose to sell their own home. These percentages have been fairly stable over the past 5+ years. 

About 50 percent of FSBOs choose to sell without a professional because they already know who they will be selling their home to (family, friends, etc.) and do not need to market their property. In these situations it can certainly make sense to sell on your own, especially if the goal is not to receive the highest price for your home.

But what about the other 50 percent of FSBOs?

On average, FSBOs who do not already have a buyer in mind sell their homes for 14 percent less than when working with an agent. Nationally, the median sales price was $58,000 higher and the average sales price was $44,200 higher when working with an agent. It’s important to keep in mind that the Greater Boston Area national price average scales higher than the national price. While anything is negotiable in real estate, I’ve never heard of a 14 percent real estate commission!

Additionally, FSBO sellers who did not already know their buyer had a median of 11 weeks on market versus the median time on market of 3 weeks when working with a professional. 

What does Fishman Real Estate Actually Do?

An exceptional real estate team is vital to assist with many tasks to sell a home.

Preparing Your Home for Sale

It is of the utmost importance to know how to best improve your home to target the maximum number of buyers for your home. Certain fixes make your home much more marketable than others, and it very much depends on your specific home. We are experts when it comes to what is marketable in the current real estate atmosphere.

Expert Marketing 

If a tree falls down in an empty forest, does it make a sound? If no one can find your amazing home will it sell?

Amazing homes can go forever without attracting a buyer, because the buyers never know the home exists. Through targeted marketing - including MLS entry, open houses, professional photography, email/ digital/ print advertisements, reaching out to our existing pool of waiting buyers, connecting with other agents' contacts, and more - the maximum number of potential buyers will be reached. 

This scale of marketing can only be achieved by a professional.

Paperwork

The paperwork required in a real estate sale can be confusing for those who do not transact in the market regularly. From accepting an offer, to Purchase & Sales agreements, to closing, we are with you every step of the way to assist.

Facilitating Contact with Other Experts

Remember, this is our full time job. Through the years working in the Greater Boston market, we have met and worked with other experts we can refer to you along the way. 

Maybe you need to make improvements on your home before listing - we know an array of contractors who can help. If you need help with moving, we work with amazing companies who take the stress out of relocating. We work with expert inspectors if you’re interested in utilizing a pre-sale inspection. We work with top-notch Real Estate Attorneys and are happy to connect you. Beyond agency, we have an amazing team who can help you from accepted offer to beyond closing.

Market Knowledge

Not all agents are created equal, and now more than ever, understanding the local real estate market is incredibly important. The market is challenging, and while some might feel as though it is a “sellers market” due to lack of inventory, that isn’t necessarily true. Understanding the national economy as well as the local Greater Boston markets helps to understand when to list, what to list for, and how to get the highest and best offer on your home. 

Pricing Strategy

We’ve learned from the massive fall-out in i-buying programs across the country, that algorithms don’t make for an accurate pricing strategy. Additionally, just because a home is listed for at a certain price doesn’t mean it will achieve that price.  

Overpriced homes don’t sell, accumulate days on market, and can scare away buyers who may think there could be something wrong with the home. 

Pricing strategy can make or break a home sale, and it requires a complex understanding of the markets, and understanding of the area, and a finesse that only experts have.

You would never try to perform your own surgery, represent yourself in a criminal court case, or build your own home from the ground up (of course, unless you're a licensed general contractor with carpentry knowledge). Real estate agents are required to receive licensure, and are only eligible after receiving extensive education and passing an exam. To succeed in the real estate realm, you must be an expert. 

I would never recommend selling your own home without the proper expertise. And as I like to tell my clients, the amount more I’ll achieve in sales price makes me free!