Why Selling Your LBI Home By Owner is Harder Than You May Think
Long Beach Island Real Estate
If you are considering selling your home in the Long Beach Island real estate market, you owe it to yourself to consider selling as a For Sale By Owner, but also consider listing with an agent so you can understand the pros, cons, and consequences of each path. Selling your Long Beach Island house can be a daunting task, particularly if you decide to go solo without the guidance of a real estate agent. While selling your home in the LBI real estate market on your own may seem like a good idea, it can come with significant responsibilities that can quickly become overwhelming. It is true that when you sell by owner, you may avoid paying commissions, but going it alone can, in many cases, cost you more money due to incorrect pricing, poor marketing, or a simple lack of understanding of the LBI real estate market.
By : Nathan Colmer | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market
Challenges with Selling Your LBI Home FSBO
Getting the price right is one of the most crucial aspects of selling your house in the LBI real estate market. This can be a challenging feat for homeowners who may need to become more familiar with the local housing market. Even if you hire an appraiser, the price can often not reflect true market value. Appraisers look at core data and often miss the subtle nuances that can influence buyer behavior. Overpricing or underpricing your home can make it difficult to sell and cost you far more money than a commission would have been. Understanding the LBI real estate market and the current trends is where a real estate agent can be a valuable asset. A knowledgeable LBI real estate agent can leverage their expertise to determine the perfect price for your house, ensuring that you get the best possible price.
Exposure to the pool of buyers in the Long Beach Island real estate market is the second most crucial aspect. If you plan to list as a For Sale By Owner, you will lose out on total market exposure. While it is possible to list a home for sale on popular real estate websites like Zillow, a simple online listing is the bare minimum needed to market your home. An online listing will also need help to effectively outline the attributes of your home and justify the asking price relative to the rest of the Long Beach Island real estate sales market. Simply put, the more qualified buyers that can see your home and are educated on what makes your home unique, the better your chances are to sell for top dollar.
Another critical consideration of selling a home on Long Beach Island is paperwork and legal documentation. Selling a house in the LBI real estate market involves a lot of paperwork, and it can be challenging to navigate on your own. You may face liability risks and legal complications without a real estate agent and a good local attorney. A local real estate agent who works on Long Beach Island can help guide you through the sales process and advise on the rules and regulations of selling a home on LBI. This advice can reduce the chance of mistakes that lead to legal problems or delays in closing.
Why Selling Your LBI Home By Owner is Harder Than You May Think
Selling your house in the LBI real estate market is a significant decision that can be complicated. Having a real estate agent who understands and works on Long Beach Island by your side can make a huge difference in setting the right price and managing all the details. While the savings in commission can be tempting, and sellers should at least consider selling on their own, you, as a seller in the LBI real estate market, need to understand what the process entails and what the potential costs could be to go on your own. The best thing to do is speak with a local real estate agent who works on Long Beach Island and see if he or she can add value to the sales transaction. Chances are, if you feel they cannot, you are probably speaking with the wrong agent, but if you would like to try selling your home on your own, I have a section on my website that offers tips and guidance on selling a home in the LBI real estate market as a For Sale By Owner. For more information about Long Beach Island or about the LBI real estate market please do not hesitate to contact me.
By : Nathan Colmer | LBI Real Estate Agent | The Van Dyk Group
Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com
Click here to search all homes for sale in the Long Beach Island NJ real estate market