One of the most important decisions you’ll face when it’s time to sell your home is, should you sell it yourself or should you be using a real estate agent? While there are several advantages to selling your home yourself, there are also disadvantages that need to be considered. Below are some of the advantages and disadvantages that you need to think about.
Advantages of Selling Your Home by Yourself (FSBO)
The obvious reason to consider selling your home yourself is the money. That money goes into your pocket instead of a real estate agent‘s pocket. By selling your home without an agent, you will save thousands of dollars by not paying the realtor’s fees and commission. Think about this – if you’re not paying commission, could you set a lower price and make a quicker sale?
Another advantage is you are totally focused on selling one home, your home. You have a lot more at stake than the realtor. Real estate agents may be involved in selling many houses at any given time and yours is just one on the list. When selling yourself you can decide how and where to advertise. You can also decide when to have showings and open houses. You determine your own schedule.
Disadvantages of Selling Your Home by Yourself (FSBO)
As stated earlier, there are also disadvantages to selling your home yourself. Selling a house takes a lot of time and attention to detail. Real estate agents are familiar with the process and the paperwork. They know how to prep a house for sale, deal with potential buyers, set up open houses, and how to handle financing, closing and legal issues. Their expertise can also have a major impact on the sale.
Weigh your options carefully. Do you have the time to advertise and do showings? Do you have what it takes to ask for an offer and negotiate a deal? Will you be able to close a deal? This is a huge undertaking for most people and not everyone is cut out to take it on without some help.
Though it can be a challenge, it’s certainly not impossible to sell your own home. If you think you’re up to the task and are willing to put the effort into it, then you could save yourself a ton of money. Do your research, even talk to agents; they are a great source of information. Your time and energy could make a difference of thousands of dollars on your sale.