If you’ve been keeping up with the Lake Martin real estate market, you’ve probably heard that inventory is below historic averages and therefore the market favors sellers more than buyers right now. If you’ve heard this, you might be wondering if you should sell your Lake Martin home on your own, rather than use the assistance of an agent.
As your Lake Martin real estate team, we’re here to fill you in on the perks of using a professional real estate team to help you sell your home this summer! The main reason to do so is that a study by Collateral Analytics found that FSBOs don’t sell for as much as homes sold by an agent, and in fact, they don’t typically save the seller anything.
The data showed, “FSBOs tend to sell for lower prices than comparable home sales, and in many cases, below the average differential represented by the prevailing commission rate.”
This means that even after you pay your seller’s agent their commission, sellers who worked with agents still made more from the sale than those who sold without an agent.
There are many reasons for this. Here are some that the study suggests:
1. Experienced agents stage a home to sell, which makes it look more appealing to buyers. This is especially true for luxury real estate, where the visual appeal of the property is key. Experienced agents also ensure quality photos that portray the home in the best light.
2. Properties listed with a professional agent will be seen by way more potential buyers than a home sold FSBO. They end up on the MLS and on the websites of all participating brokers in the area. The listings are marketed all across social media. Agents make sure the house is seen live with private showings. It is much easier for buyers to find and view your property when you work with an agent.
3. Many buyers know that they can score a better deal with a FSBO seller, due to these statistics. Strategic buyers will know how to negotiate a lower price, because they know the seller is saving on a commission rate. Plus, if that buyer uses an agent, then you’ll be negotiating with a professional.
There are many reasons to sell with a Lake Martin real estate agent this summer! When you work with us, the Haynie Team, we will ensure that your listing looks beautiful, professional and luxurious, that it is seen by as many potential buyers as possible, and that we negotiate a price you’re satisfied with!
If you have questions, or you’re ready to sell, contact us! The Lake Martin real estate market is hot right now, it’s a great time to sell, buy or both!
Becky Haynie, Associate Broker / Realtor
Lake Martin Realty