Why Owner Listings on Property Portals Often Fall Short of Agent Listings
Are you puzzled by the fact that your property, listed for sale by the owner, seems to be lingering on real estate websites while agent listings seem to fly off the virtual shelves? Don’t worry; you’re not alone. Recent research shows that over 88% of for-sale-by-owner (FSBO) listings remain unsold on property portals even after 120 days. But why does this happen?
Expertise & Knowledge
Real estate agents bring with them a wealth of expertise and market understanding that most owners don’t have. They know how to price a property properly, understand market trends, and can effectively negotiate on your behalf. They also understand the intricate legal aspects of property selling and can easily navigate the paperwork.
Agents have the skills and resources to market your property effectively. This includes professional photography, staging advice, compelling property descriptions, and the use of premium listing spots on property portals. As a property owner, it can be challenging to match the level of professionalism that experienced agents provide.
Network & Exposure
Real estate agents have extensive networks that they leverage to find buyers. These networks often extend beyond what’s accessible to the general public, providing a wider audience for your listing. In addition, they have access to multiple listing services (MLS), which significantly broaden the exposure of your property.
Time & Commitment
Selling a property is a time-consuming task. From responding to inquiries, scheduling and conducting viewings to following up with potential buyers – all these tasks demand time, which many property owners find hard to spare. On the other hand, real estate agents dedicate their professional lives to these tasks, ensuring every aspect of the selling process is meticulously handled.
Trust & Credibility
Finally, buyers tend to trust agent listings more. They feel reassured knowing that a professional is involved, which decreases the chances of potential legal issues or scams.
In conclusion, while selling a property on your own is possible, the odds seem more favourable when a professional real estate agent is involved. The additional cost of hiring an agent is often offset by their benefits – a quicker sale, better price, and less stress for you, the seller. So, before you decide to go the FSBO route, consider the potential benefits of professional assistance.