Selling your home on your own (also known as FSBO) may appear to be a great opportunity to save thousands of dollars. You can claim that saving money by working as your own seller's agent is well worth it. Although it may be enticing, the drawbacks of doing it alone outweigh the benefits in most situations.
The reality is that selling your home can be extremely difficult on your own. There is a lot that a typical homeowner is unaware of when it comes to the process.
Although it is possible, however, the simple truth is that you don't fully know what's involved in the process; there is a lot of paperwork to deal with, some of which you might not even familiar with.
Selling a house is also usually an emotional experience. Using an agent helps reduce the chances of making costly mistakes like overpricing your house, refusing to counter a low bid because of your current mood, or giving in too quickly when you're feeling restless. You'll also have to deal with rejection on your own any time a buyer's agent tells you the client isn't interested.
"Our experience was amazing. We are new home buyers and we had no idea what we were doing but Shakiena was there every step of the way, she answered all of our questions and always stayed in touch. She was always making sure it was in our best interest and was on our side. " - Olasya B.
You can use Zillow, Redfin, Craigslist, and other multiple listing websites that agents use to list your house. However, will it be sufficient? Even if you have a huge personal or professional network, what you lack are partnerships with customers, other brokers, or a real estate agency to help you find the best buyers for your house. A smaller pool of potential buyers means less interest for your home, which means you'll have to wait longer to sell it and may not get as much money as it's worth.
Pricing your house might be the most important decision to make in selling your home. But it takes years of practice to learn how to negotiate effectively. Price negotiation is a skill. You might overlook your house's flaws or you might make an emotional charge. It is also important to consider the current market trends in your area, which real estate agents are keener on.
To summarize, agents will help you get your property more publicity, help you negotiate a better price, devote more time to the sale, and keep your emotions from sabotaging it. An agent brings experience to a dynamic transaction with many possible financial and legal pitfalls, which few FSBO sellers have. Although it is feasible to sell on your own, you should consider every aspect of your situation before putting the sale sign in front of your hard-earned home.