Agent v. FSBO - In New Jersey What Is Better?
BusinessWeek writer Dean Foust wrote a column for their Hot Property section where he looks at the timeless question of Agent v FSBO. I like that Dean brought up motivation as a factor for how agents influence their client's (the seller) decision to 'work with a buyer'.
In the world of agents, it's all about turns. Better to move that house today, than wait another six weeks for $20,000 more, since their cut of that higher price is roughly $300 (or 1.5%, assuming the 6% commission is split four ways between two agents and two brokerages). Flip and move on, flip and move on.
Homeowners need to keep in mind that their agent is human. Their agent may be a hustler working to get as many people in to see their home as possible and marketing the home in a variety of ways, but at the end of the day it will always come down to how much more money is the agent going to make by getting a higher sale price compared to how long it will take or what they have to do to get that higher amount.
Many homeowners see that they make the same if not a little more selling by themselves versus listing with an agent. The question comes down to the amount of time you have. Selling with an agent will 99% of the time get your home sold faster, but probably not as fast as you might expect.
In the first 6 months of 2007, there were 167 homes sold by agents in Middlesex County New Jersey, and the average time it took to them to sell the home was 105 days. During that same time, 5,289 homes in Middlesex County were listed for sale with an agent. That works out to be 1 sale for every 32 homes listed in the same 6 month period.
A 1:32 ratio shows that the market is tight even for homes that are priced right and in great condition. Clearwater Properties buys all types of homes in all types of condition. If you are a FSBO that wants to sell your home and are flexible with either your price or your terms, you should contact us TODAY so we can work with you.
Tags - FSBO : Agent : Home Sale : new jersey
