Why Selling Your Long Beach Island Home On Your Own in 2021 Is A Mistake

Why Selling Your Long Beach Island Home On Your Own in 2021 Is A Mistake

Why an LBI Real Estate Market FSBO Can Cost You

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Long Beach Island Real Estate

There is no doubt that the LBI real estate market is on fire right now. The supply of homes is very low, and demand is high. Buyers have an attractive incentive to make a purchase right now. All totaled, this is a perfect scenario for a seller on Long Beach Island. Given the current market conditions, many sellers in the LBI real estate market are tempted to try and sell independently as a FSBO. On the surface, this may seem to make sense, but in reality, selling your Long Beach Island home in 2021 on your own could be a mistake and cost you a great deal of money.

By : Nathan Colmer | The Van Dyk Group

Cell: 609-290-4293 | Office: 800-222-0131 | ncolmer@vandykgroup.com

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

Why Selling Your Long Beach Island Home On Your Own in 2021 Is A Mistake

Selling a home by yourself as a for sale by owner, or FSBO, does save on the commission, usually around 5% of the total sales price, but it does have issues in a market like the one found on Long Beach Island. The chief concerns are:

Safety: In the age of COVID, responsible real estate agents will take steps to help safeguard a home against possible exposure. Furthermore, the real estate agent will be accompanying any potential buyer, rather than you, the owner, meeting individuals.

Marketing Expenses: While there are free services available to market your home for sale by owner, properly doing so will cost money. This has to be accounted for and factored into the assumed savings by not listing with a real estate agent.

Market Exposure: This is the most significant reason to NOT sell your home as a for sale by owner in 2021. Doing so will absolutely reduce the number of potential buyers who will see your home, which can cost far more than a “savings” of 5%. With the market being so busy and demand so high, the more potential buyers that see your home, the more likely you will get multiple offers. Most homes in the LBI real state market will have multiple offers and a bidding war. This can drive the price much higher and net you far more money than you will save by not paying a commission.

Market Pricing: The LBI real estate market is changing almost daily. As new comparable sales enter the market, usually after having had multiple offers, we can see a home price much higher than originally thought. A real estate agent can help track your home’s current value in conjunction with the market, which may result in RAISING the price.

Why an LBI Real Estate Market FSBO Can Cost You

Selling a home in the LBI real estate market comes down to a net proceeds number. Whatever path is going to put the most money in your pocket is the right option. In some cases, that will be a for sale by the owner (FSBO). Still, in the current market, the data suggests you will net far more money by listing with a real estate agent on the open market than you will save by not engaging the services of a professional. If you have any questions about buyingselling or investing in 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

www.BuyLBI.com

Click here to search all homes for sale in the Long Beach Island NJ real estate market

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