Real Estate News: Hiring a Realtor vs. For Sale by Owner

Having lived in your home for years, if not decades, there’s no arguing that you know the ins-and-outs of your current residence better than anyone else. However, that doesn’t mean that you’re going to be the best person to sell your home when you decide to move. Though tempting, For Sale By Owner transactions are not as successful or lucrative as some might originally assume — even in a seller’s market.

Instead, contracting a New Jersey Realtor who has years of experience, is well-versed on the current market conditions, knowledgeable on real estate law, and abides by the strict Realtor code of ethics actually increases the chances of receiving higher offers from buyers and decreases the number of days your home is on the market.

In addition to the financial incentives, some of the stress-inducing effects of selling a home without a New Jersey Realtor come from a lack of industry related knowledge in relation to:

understanding and completing paperwork

pricing the home accordingly

marketing to potential buyers

selling within the desired length of time

having the time to devote to properly selling the home

NAR indicates that the number of property owners who do choose to work with real estate agents has risen steadily since the new millennium, and that 88% of recent buyers purchased their home through a real estate agent or broker. In addition to the knowledge and experience a REALTOR brings to a sale, sellers working with a REALTOR received an average price for a home represented by an agent was $215,000. Comparatively, the average FSBO sales price was $174,900 a difference of $40,100.

New Jersey REALTORS is the voice for real estate in New Jersey and serves as a leading advocate for the real estate industry and private property owners. NJ REALTORS provides essential programs and services for REALTORS, including government affairs, continuing education, market statistics and many other benefits. Additionally, NJ REALTORS provides resources for consumers related to the real estate industry and the process of buying and selling a home.