Mortgage FAQ: Should I Consider a Part-Time or Internet Real Estate Agency to Save Money?

"I’VE THOUGHT ABOUT SELLING MY HOME WITHOUT A FULL-TIME REAL ESTATE AGENT. I’VE HEARD THERE ARE PLENTY OF SITES ON THE INTERNET AND PART-TIME AGENCIES THAT CAN HELP ME. IS THIS SOMETHING I SHOULD CONSIDER?"

The idea of saving money by selling your home without a full-time licensed real estate agent can be enticing, but you may regret it for two very important reasons. First, you don’t have a real estate agent’s expertise in many areas such as determining list price, understanding market conditions, deciding which upgrades are important, marketing your home, negotiating with buyers, and knowing your state’s real estate laws. Simply put, an agent’s knowledge and experience is critical to your sale.

Second, the average for sale by owner (FSBO) home sells for a lot less than a home sold with the help of a real estate agent. According to a report from the National Association of Realtors (NAR), the median selling price for all FSBO homes in 2017 was $60,000 less than agent-assisted home sales. That’s a lot of money to leave on the table. Overall, for sale by owner homes comprised just 7 percent of total home-sale transactions in 2018, down from 15 percent in 1981, according to the NAR. If you want to avoid headaches and sell your home for top dollar, don’t be a part of this small percentage of sellers.

For more than 25 years, Omega Financial has been serving mortgage clients in Massachusetts. Our brokers have approximately 50 years in the mortgage business. You always will receive fast, courteous, and accurate information. Omega Financial, Inc. is a company duly licensed to operate in Massachusetts as a Mortgage Brokerage. We are located in the Town of Norwood, Massachusetts where we have been operating as Omega Financial Incorporated since 1988.

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