5 Disadvantages of Using the FSBO Method
Often, homeowners consider selling their home as "for sale by owner" because they don't want to pay a real estate a commission. However, did you know that more times than not when you don't use a real estate agent at the Lake of the Ozarks it could actually cost you more? Hiring a real estate agent at the Lake of the Ozarks often see a higher return on their home and significantly reduce legal issues associated with selling a home. Read on to find out why sticking a "for sale by owner" sign in your front yard might not be the best idea.
#1 Agents Have Access to the Multiple Listing ServiceA real estate agent has access to the Multiple Listing Service (MLS). The MLS is a database of current homes for sale. By hiring a real estate agent, information about your home will be instantly available to agents all across your area. They can conduct searches in the MLS for potential buyers to locate properties the buyers might be interested in. If you try to sell your home by yourself, you might not be listed in the MLS and buyers' agents won't bring your home to their clients' attention.
#2 Top Producing Agents are Negotiation ExpertsTop producing agents negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description. Good agents are not messengers, delivering buyer's offers to sellers and vice versa. They are professionals who are trained to present their client's case in the best light and agree to hold client information confidential from competing interests.
#3 There's a Vast Amount of Paperwork InvolvedToday's purchase agreements are more than just a single piece of paper vaguely going over the conditions of the sale. If you're lucky, there may only be the purchase agreement itself, but in the Lake of the Ozarks area, that's just not typically the case. The state of Missouri requires certain disclosures to be completed depending on the property type, age of the property, and location of the property. One tiny mistake or omission could land you in court or cost you thousands. But don't worry, our agents will help you to determine what paperwork is required and can answer questions about those documents!
#4 Online Real Estate Websites Cannot Provide Accurate Valuations of Your HomeIf you've ever gone on real estate websites like Zillow or Trulia, you've probably seen their estimated valuation. While in a perfect world, being able to see the estimated value of a home online would be wonderful, no every region is the same when it comes to real estate value. This is especially true for the Lake of the Ozarks real estate market. Therefore, it's not feasible to go off of an estimate provided by an online company that's not even located in or understands the special factors that Lake of the Ozarks real estate agents must consider when pricing a home. We often see this with appraisal professionals who are not familiar with the Lake area as well.
#5 The Real Estate Market is Ever-ChangingThe real estate market is shifting every day. Every home is different, and laws change every year and vary between different types of properties. Generally speaking, people purchase a new home every 7-10 years, and a lot can change between transactions. Lake of the Ozarks real estate agents are immersed in real estate, and they must stay current with all the updates in regulations, laws, contracts, and practices. Once you retain a real estate agent, they put that knowledge to work for you.
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