Many homeowners like the thought of not paying Reno real estate commissions; they want to try and sell their home on their own. The reality of the situation, however, is that completing a For Sale By Owner (FSBO) typically ends up costing a homeowner more than if they were to hire a Reno real estate agent to help them sell their home. Many people wonder why this is and we're here to tell you why.
One of the main reasons that completing a FSBO can cost more in the long run is because, in most cases, your Carson, Fernley, Sparks or Reno home will usually sits on the market much longer. Homeowners that try to sell on their own don't have access to the same marketing avenues that Reno real estate agents do. Realtors have access to the MLS, which is where many buyers look, as well as a network of other agents to help them get a home sold fast; homeowners really only have newspapers, websites such as Zillow.com and yard signs to advertise their home for sale and most of the time it just isn't enough to get the word out.
Working with a Reno real estate agent will also save you money because they'll be able to compare your home to others currently on the market and accurately price it. A vast majority of the time when a homeowner tries to sell on their own they overprice their home for several different reasons. Generally they're either too emotionally invested in the property are only willing to sell for a certain price or they're unaware of current market conditions and don't know what they're home is truly worth. Many potential buyers won't even consider looking at a home if it's overpriced and the homeowner will be forced to continually lower the price to hopefully drum up some interest; if the home does sell it is usually for less than what a Reno Nevada real estate agent would have been able to sell it for.
Before you decide to complete a FSBO on your home simply to save yourself money, be sure you do the research to know what you're getting yourself into. The chances of you actually saving money are slim to none because in the end you'll more than likely have to hire a Reno Nevada real estate agent to help you sell your home.