In an effort to save on commission fees, many sellers go the FSBO (for sale by owner) route, thinking that selling their home on their own will be more cost efficient than hiring an agent.
But as it turns out, typically, FSBO is far from cost efficient.
According to the 2019 Profile of Home Buyers and Sellers from the NATIONAL ASSOCIATION OF REALTORS®, FSBO homes sold for a median of $200,000 last year—a whopping $80K less than agent-assisted homes, which sold for a median of $280,000.
So, what does this mean for you? If you’re thinking about going solo on your home sale as a way to save money on commissions, you might want to rethink your strategy. There’s a reason 89 percent of home sellers last year worked with an agent to sell their home; not only do they make the process easier and less stressful, but they can also get you a significantly higher price for your property.