Leave a comment »

I'm sure there are lots of reasons why Plainfield and Naperville homeowners find it more appealing to try to sell their homes for sale by owner, and I'm sure the 4-7% commission that a Plainfield or Naperville Realtor would charge them for their service tops the list... but did you know that according to NAR, homes for sale by owner sell for 32% less than homes listed with a Realtor, on average?

Wow, even if you figure in a 5% commission from a Plainfield Realtor, homeowners are still losing about 27% of their homes equity anually by chosing to eliminate the professional services of an Illinois Realtor. Yikes, 27% is a lot of money on a $250,000 house! 

The median FSBO selling price in 2006 was $187,200, compared with $247,000 for agent-assisted transactions and in a faster amount of time.  That pretty much makes hiring a Realtor look like a pretty sweet bargain!

Here are some of the reasons For Sale By Owner homes sell for less money, in a longer amount of time:

• Sellers do not know the true value of their home.
  
• Limited exposure to Internet and tech-savvy buyers.
• Inexperience with negotiating the terms of a contract.
• Limited access to the price of competing home values.
• Limited access to closed home price comparables.
• Most buyers use a Realtor represent them when purchasing real estate and FSBO's are often over-looked because the limited amount of information available about the homes statistics.

If you are on the fence about whether or not to hire a Realtor to represent you in the sale of your home, interview a few Plainfield or Naperville real estate agents and then decide if you have the time, effort, and energy to provide the same level of service for yourself than your Plainfield or Naperville Realtor will provide for you!

If you are a Plainfield or Naperville homeowner thinking about "For Sale By Owner" or have a property you are currently marketing on your own, it would be my pleasure to answer any questions you may have about the process.  Just give me a call at 630-673-6233.

Read also:

What Kind of Improvements Do I Need To Make My Plainfield or Naperville Home Sell?
Plainfield Home Values and How They Comparea Against the Housing Bubble
Testing the Market With A High Asking Price