{"id":7560,"date":"2024-02-29T16:51:18","date_gmt":"2024-02-29T21:51:18","guid":{"rendered":"https:\/\/empireappraisalgroup.com\/?p=7560"},"modified":"2024-01-10T16:52:42","modified_gmt":"2024-01-10T21:52:42","slug":"fsbo-sellers-regret-not-having-an-agent","status":"publish","type":"post","link":"https:\/\/empireappraisalgroup.com\/fsbo-sellers-regret-not-having-an-agent\/","title":{"rendered":"FSBO Sellers Regret Not Having an Agent"},"content":{"rendered":"
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\"House<\/div>\n
Lusky, DigitalVision, Getty Images<\/div>\n
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Source:\u00a0 https:\/\/www.floridarealtors.org\/news-media\/news-articles\/2023\/12\/fsbo-sellers-regret-not-having-agent?utm_campaign=12-7-23+Florida+Realtors+News&utm_source=iPost&utm_medium=email<\/div>\n<\/div>\n<\/div>\n<\/div>\n

FSBO Sellers Regret Not Having an Agent<\/h1>\n
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By Melissa Dittmann Tracey<\/div>\n<\/div>\n
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Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience \u2013 and more likely to say their earlier opinion, \u201cagents are overpaid,\u201d was wrong.<\/p>\n<\/div>\n

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CHICAGO \u2013 Homeowners who decline to use a real estate agent to sell their property are twice as likely to say they weren\u2019t satisfied with the selling experience, according to a new survey from Clever Real Estate of 1,000 home sellers in 2022 and 2023. Survey respondents say they realize they likely made less money on their home sale and faced more stress by not having a professional representative.<\/p>\n

Those who didn\u2019t use a real estate agent said before their transaction that they think pros are overpaid for what they do and are not more knowledgeable about the home selling process than the average seller. However, when these respondents reflected on their experience after the transaction, they admitted that they made some mistakes without the help of a pro.<\/p>\n

More than a third of non-agent sellers, such as FSBOs (for sale by owner) or those selling to an iBuyer, said the process was more difficult than they expected. What\u2019s more, these sellers admitted:<\/p>\n

\u2022\u00a0\u00a0 \u00a0Buyers distrusted them because they didn\u2019t have an agent (43%)
\n\u2022\u00a0\u00a0 \u00a0They struggled to understand their contract (40%)
\n\u2022\u00a0\u00a0 \u00a0They made legal mistakes because they didn\u2019t use an agent (36%)<\/p>\n

The survey also found other consequences of going it alone as a seller:<\/p>\n

\u2022\u00a0\u00a0 \u00a0Lower sales price: Homeowners who sold without a real estate agent are three times more likely to say they lost money on their home sale. The Clever Real Estate survey found that those who sold their home with an agent tended to earn $46,603 more in average profits than those who sold without an agent in 2022 and 2023. About half of unrepresented sellers say they wish they had priced their home differently, and nearly half now believe their home would have sold for more if they would have used an agent.
\n\u2022\u00a0\u00a0 \u00a0Longer selling process: Home sellers without an agent are nearly twice as likely to say they didn\u2019t accept an offer for at least three months; 53% of sellers who used an agent say they accepted an offer within a month of listing their home. Yet many homeowners who didn\u2019t use an agent said the primary reason for going it alone was to sell faster.
\n\u2022\u00a0\u00a0 \u00a0More stress: Half of home sellers who did not use an agent admit to crying at some point in the process, and 52% of unrepresented home sellers said they felt overwhelmed by the entire sales process. On the flip side, homeowners who hired an agent were more likely to say they felt good about their sale and expressed less stress.<\/p>\n

Home sellers who used an agent also had some gripes about their experience, albeit much fewer. But those who were unhappy with their agent experience expressed feelings like their agent was only looking to make a sale and didn\u2019t care about their interests, their agent \u201cannoyed\u201d them, or they thought the agent pressured them into decisions, the survey found.<\/p>\n

That said, 77% of respondents who used an agent say they were satisfied, and 72% say they would use their agent again.<\/p>\n

Even though the vast majority of home searches start online, most consumers still use real estate agents to buy or sell a home. Indeed, the National Association of Realtors\u00ae\u2019 (NAR) 2023 Profile of Home Buyers and Sellers found that 89% of buyers and sellers in the last year used a real estate agent, up from the previous year.<\/p>\n

Only 7% of homeowners sold as a FSBO over the last year \u2013 which matches the all-time low recorded in 2021, according to NAR data. FSBOs continue to not fare as well in the market as professionally represented homes: FSBOs sold at a median price of $310,000 in the last year, compared to $405,000 for listed homes, NAR\u2019s data shows.<\/p>\n

\u201cHaving a Realtor help you navigate the homebuying and selling process provides peace of mind, especially in a challenging market with high prices, elevated mortgage rates and limited inventory,\u201d says NAR President Tracy Kasper.<\/p>\n

\u00a9 2023 National Association of Realtors\u00ae (NAR)\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Lusky, DigitalVision, Getty Images Source:\u00a0 https:\/\/www.floridarealtors.org\/news-media\/news-articles\/2023\/12\/fsbo-sellers-regret-not-having-agent?utm_campaign=12-7-23+Florida+Realtors+News&utm_source=iPost&utm_medium=email FSBO Sellers Regret Not Having an Agent By Melissa Dittmann Tracey Survey: Sellers who go-it alone are twice as likely to be unsatisfied with the experience \u2013 and more likely to say their earlier opinion, \u201cagents are overpaid,\u201d was wrong. CHICAGO \u2013 Homeowners who decline to use a real […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","footnotes":""},"categories":[8],"tags":[],"yoast_head":"\nEmpire Appraisal Group - Highest Reviewed Appraiser in Broward<\/title>\n<meta name=\"description\" content=\"Need an Appraisal? Call or text us today for a free quote (561) 441-9298. 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