Selling your home For Sale By Owner (FSBO) is a tempting idea for many homeowners in Costa Rica.
The main motivation? Saving on real estate commissions, which can range from 5% to 10% of the sale price.
But while skipping the realtor may seem like a cost-saving measure, it can often lead to missed opportunities and even financial losses.
Statistics show that 91% of real estate transactions involve a professional, and properties sold by realtors typically fetch 20% more than those sold by owners alone.
So, why is this the case? Let’s break down the key reasons working with a realtor can make all the difference.
In Costa Rica, there’s no centralized MLS (Multiple Listing Service) like in the U.S., making it challenging for sellers to price their property correctly.
Realtors rely on local market data, recent sales, and active listings to determine fair market value. Proper pricing ensures your home sells faster and at the right price.
“Everything sells for the right price” – A tried-and-true motto in our office.
A realtor can show your home when you’re unavailable, respond to inquiries, and gather valuable feedback from potential buyers.
They also provide a level of detachment that helps buyers feel more comfortable exploring the property and imagining themselves living there.
Realtors offer objective advice on how to improve your home’s appearance to appeal to buyers. Sometimes, small changes like a fresh coat of paint, rearranged furniture, or minor repairs can make a big difference in attracting offers.
One major downside of FSBO is dealing with unqualified buyers or “tire kickers.” Realtors pre-screen potential buyers to ensure they’re legitimate and financially capable. This not only saves time but also provides an added layer of security.
Experienced realtors have professional marketing tools and an established client base. For example, at PLD, when we list a property, we share it with over 1,000 clients in our database, giving it immediate exposure. FSBO sellers rarely have access to such extensive resources.
Negotiating a property sale is about more than just the price. It’s also about timing, terms, and meeting your needs. Realtors handle these discussions with professionalism, making sure contracts comply with local laws and regulations. In Costa Rica, for instance, all contracts must be written in Spanish to be legally binding.
Selling a home can be an emotional process, especially if you’ve made memories there. Emotions can cloud judgment and complicate negotiations. Realtors keep the focus on your ultimate goal: selling your home.
While the idea of saving on commissions is appealing, FSBO sellers often encounter unexpected hurdles:
While FSBO might seem like a way to save money, it often results in lower sale prices and missed opportunities. A professional realtor brings expertise, connections, and negotiation skills that can lead to a faster sale and higher profits, often covering the cost of their commission several times over.
When it’s time to sell, consult multiple agents to determine who offers the best strategy to market your home effectively.
Ready to take the next step? Explore our luxury property listings to find your dream home in the world’s best climate and start living the lifestyle you’ve worked so hard to achieve.
Real Estate Broker
+506-8854-7721
Dennis@pldatenasrealty.com
