You’ve decided to sell your home!
Your goal is naturally to make as much money as you can from the sale. You may be considering selling your home yourself and not hiring a real estate agent to save money.
In this robust selling climate, it may seem as though houses are flying off the market and putting a for sale sign in the yard means that buyer after buyer will show up at your door with competing offers, fueling your ambition to sell yourself.
Here are some things to consider when thinking about going it alone.
Pros to selling yourself:
1. You’ll save money by not having to pay a commission because you don’t have to pay for the help of a real estate agent.
2. You’re in complete control of the sale, and don’t have to listen to anyone else’s opinion about what you should list at, what should be spruced up, or whether you’ll make any repairs once the inspection report comes back.
3. Having one house to sell, yours, means you won’t be distracted by other clients or other deals that are occurring at the same time as the sale of your home. All of your time and focus is on your house and getting it sold.
Cons to selling yourself:
1. While it’s true that you will save money by eliminating the real estate agent in the transaction, you will not remove the need for the real estate agent’s job. Surprising to sell-on-your-own homeowners is how much time and effort is performed on the sale of one house. This may explain why more than 90 percent of homeowners who initially tried to sell on their own end up hiring a real estate agent anyway, according to the National Association of Realtors.
2. While you have complete control of the sale and don’t have to listen to anyone’s opinion about how much to sell for, what to do to get ready to sell, or negotiation issues, by selling yourself this could come at a detriment. By going it alone, you don’t have the counseling or abilities of someone experienced with the local market or home selling like your competition does.
3. When you sell on your own, you have one house to sell: yours. A real estate agent that you hire may have a large inventory that they are selling, and not be able to devote 100 percent of their time to your house. How much time do you have available, though? If you work full time and aren’t available to show the house, for example, or are missing phone calls of potential buyers because you’re at work, you might not have as much time as you think to devote to the sale of your house.
Knowing the drawbacks and the benefits of selling for sale by owner can help you to make a more informed decision before you move ahead in the process.
Melissa Rolland is a Real Estate Salesperson and Realtor®, Accredited Home Stager, and author of the book “Straight from the Kitchen Table: Every Day Real Estate.” She lives in Tolland along with her husband Todd, an Associate Broker and Realtor®. Together they manage the Rolland Realty Group powered by eXp Realty of CT, LLC. You can connect with them at www.RollandRealtyGroup.com, by email at firstname.lastname@example.org or by phone at 866-408-8059. “The statements and opinions contained in this article are solely those of the individual author and do not necessarily reflect the positions or opinions of EXP REALTY INTERNATIONAL, INC or its subsidiaries or affiliates (the “Company”). The Company does not assume any responsibility for, nor does it warrant the accuracy, completeness or quality of the information.