Some Austin home sellers choose to have a go at it on their own. Many think real estate agents charge too much and that they can save 6% or more by selling themselves. Commonly known as FSBOs, these for sale by owners are often difficult to get sold.
What the seller of a FSBO thinks and what is closer to reality:
I can make more on a sale by not paying a real estate commission. The reality is that there are not a lot of unrepresented buyers out there. Many Buyer's Agents will find an Austin FSBO, contact the owner and ask if he will be paid a commission if he brings a buyer. So what may be cut out is a 3% or so commission that a listing agent might have taken if the seller will pay. If the seller will not pay, the Buyers Agent may just move on.
I can market my home as effectively as a real estate agent can. The reality of this is that a seller can generally not get the exposure for his house that a licensed agent can. An Austin home seller may advertise in a local newspaper, but most people don't use newspapers any more to look for homes. They use the internet.
When a real estate agent puts a listing in the Austin MLS, it usually populates over to Realtor.com and many other websites and this gives the listing national exposure. That maximizes exposure. Sure, a seller can put the house on Craigslist, but that listing is off page one in a matter of hours in most cases and most buyers will never see it.
Another reality here is that it is usually agents who bring buyers. As stated earlier, not many buyers are without representation these days. As such, the Buyer's Agents see listings in the MLS and that is when they show the listing to a prospective buyer.
I can get as much for my house as a Listing Agent can. The realty here is that many people seeing a FSBO automatically think they can discount an offer because there will be no real estate commission paid.
Another problem with FSBO sellers is that in Texas they cannot get real market data. Texas is a non-disclosure state. Sellers do not need to tell the county or anyone else how much they sold a house for. That is only available through the MLS and the MLS is only available to licensed agents who are members of their local Board. So how can they expect to price the house correctly?
So Austin home sellers, do yourselves a favor and list your house with a licensed Austin real estate agent.
About this Author
Author Bio:
Sam Chapman is a Austin REALTOR who has lived and worked in the Lake Travis area since 1987. Sam is also very active in the community with Rotary, the American Cancer Society and in Lake Travis schools. Check out Sam's Austin real estate blog.
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