Compare Realtor or For Sale By Owner
|Full - Service Realtor
|For Sale by Owner
|Listing agent uses the Multiple Listing Service exposing the property.
|No MLS. Limited advertising.
|Seller pays a commission.
|Both the buyer and seller want to save the same commission.
|Realtor objectively prequalifies prospects to make certain they are financially capable of performing.
|The seller must prequalify any prospective purchaser.
|Realtor and associates are available 24/7/365 to show the property and close the transaction.
|The seller must be available to show the property to strangers, negotiate the price and terms of sale, and the get the sale closed.
|Realtors are generally aware of neighborhood and market sales activity and trends.
|Owners are not likely to have access to current market data.
|Realtors are trained to minimize the risks associated with showing a property to a stranger.
|The seller accepts all security risks.
|Realtors are objective in dealing with real estate transactions which is often necessary to consummate a transaction.
|Most owners find it difficult or impossible to be objective. This can work to the disadvantage of the seller.
|Realtors are knowledgeable about costs, escrow prorations, and industry standards.
|Most owners have little knowledge of industry standards, customs, practices and costs.
|Realtors have access to a real estate attorney when questions arise about legal matters.
|Owners rarely have a real estate attorney on retainer.
|Realtors often receive referrals from other agents in other cities through various national referral networks.
|Owners don't have access to national agent referral networks.
|Realtors generally receive training on how to handle multiple offers so as to avoid legal problems.
|Most owners do not have experience in dealing with multiple offers.
|Realtors generally know which lenders are most likely to approve the buyer's loan application.
|Most owners do not follow the mortgage market and don't know which lenders are the most and least competitive.
|Realtors are trained to know what types of written legal disclosures are required to be provided to buyers.
|Most owners don't know the most recent legal requirements for written disclosures.
|Most buyers have confidence that a Realtor will treat them fairly and will honor the National Association Realtor Code of Ethics.
|Most inexperienced buyers are fearful of dealing directly with an owner because they are concerned about the owner being more knowledgeable and taking unfair advantage of them.
|Peace of mind.
|Seller has total responsibility.
Five Costly Mistakes FSBO Sellers Make
- Failing to make written disclosures required by law;
- Over-improving the property based upon the neighborhood;
- Hiring a real estate agent based upon friendship instead of solid business factors;
- Overpricing the property; and
- Getting emotionally involved in the sale of the property.