If you’re considering selling your home in Los Angeles, new research shows a major benefit to partnering with a top Los Angeles real estate agent: Homeowners who used an agent made an average of $79,000 more from their sales compared to those who sold without one. According to a survey by Clever Real Estate, which gathered insights from 654 homeowners who sold their properties recently, the advantages of working with a licensed agent are undeniable—especially in competitive markets like Los Angeles.
The Hidden Costs of Selling Without a Los Angeles Real Estate Agent
Despite the significant financial upside, 36% of surveyed homeowners chose to sell their homes without an agent. Here are some crucial takeaways from the report that highlight why going the FSBO (For Sale By Owner) route could cost you:
- 54% of FSBO sellers later wished they had used an agent.
- FSBO sellers were 64% more likely to say they didn’t sell for their desired price and were twice as likely to be unhappy with the entire process.
- 49% of FSBO sellers regret their initial listing price, while 73% of sellers working with a real estate agent believe their agent accurately priced their home.
- A staggering 87% of FSBO sellers expressed a willingness to switch to an agent if their home didn’t receive any reasonable offers within the first few months. Of those, 51% said they’d hire an agent within two months.
Why Los Angeles Home Sellers Should Partner with a Real Estate Agent
These statistics highlight why hiring a Los Angeles real estate expert can make or break your home sale. The dynamic and competitive nature of the Los Angeles housing market requires specialized knowledge to secure the best possible deal. For instance, 48% of all homes nationwide were on the market for 60+ days as of August, showing that even in a seller’s market, strategy matters. Homes in Los Angeles neighborhoods like Brentwood, Beverly Hills, and Santa Monica demand tailored marketing plans to avoid becoming another “stale listing.”
By partnering with an experienced agent, you’re setting yourself up to maximize profit, minimize time on the market, and ensure a smooth transaction.
Los Angeles Real Estate Market: How to Tap Into Unrepresented Sellers
For real estate agents in Los Angeles, this data provides a golden opportunity to approach unrepresented sellers whose listings are going stale. Many homeowners who list FSBO quickly realize the complexities involved in the Los Angeles real estate market, especially when it comes to pricing, negotiating, and marketing their homes effectively.
By keeping an eye on stale listings in Los Angeles—especially those without agent representation—you can introduce yourself to homeowners and offer your expertise. In a fast-paced market, many of these sellers will be looking for a professional to help them get the deal done.
Takeaway for Home Sellers and Buyers in Los Angeles
Whether you’re thinking about selling or buying a home in Los Angeles, partnering with a trusted real estate agent is key to navigating the market successfully. For sellers, it’s about getting top dollar for your property; for buyers, it’s about finding the right home at the right price. If you’ve been considering selling FSBO in Los Angeles, these findings should give you pause. The potential financial and emotional costs may not be worth the risk.
If you’d like to discuss selling your home or are simply curious about what your property could be worth in today’s Los Angeles real estate market, don’t hesitate to contact us. We’re here to guide you through every step of the process and help you achieve the best results.