The answers are Risk, Pricing, Timing, and Visibility.
Let’s start with RISK. If you are reading this article you have access to Washington State’s published laws and administrative procedures for the sale of real property. Visit this link and search for the words “real estate”. As a SELLER you can no longer rely on the “buyer beware” philosophy of the past. Using one of our Anchor Brokers, a professional REALTOR® with their superior knowledge of the territory, access to market valuation products, and experience in all facets of land or home sales minimizes your risk in either a purchase or a sale.
After the housing crash of 2008, PRICING has become the most important variable in buying or selling a home. Location, street appeal, and overall quality of the property are still very important. However, in today’s market, having the right tools at your fingertips is important to appropriately price the property. Owners thinking of For Sale By Owner (FSBO) may use “out of date” information from assessor tax files to set the price of their property. Buyer’s of a FSBO property may commit the same error in this rapidly changing market and buy a property for more than the market can support. It is a fact. Improperly priced properties do not sell quickly, or not in a reasonable time, or not at all. I will not say what it means to buy for more than it is worth.
Timing and Visibility make a huge difference in the sale or purchase of a property. Working with an Anchor Broker/REALTOR® we can help a seller time the sale of their property so that their property does not have much competition in their home style and price range. We can help buyers negotiate better pricing when we know there is an ample supply of like properties for sale. A FSBO seller does not really have the access to the detailed information Anchor Realty has access to.
What you think you gain from FSBO purchases or sales are always made up by quality marketing, informed pricing and timing, and by increased visibility as well as the management of risk in the process.