For Sale by Owner, is it Really Worth the Effort and Time?
Some home sellers have asked is selling by owner really worth the effort and time? In many cases the answer is no! When selling alone you limit yourself to a smaller pool of buyers compared to the broader access available to skilled, top producing agents. Zillow, Trulia and Craigslist are just the tip of the iceberg for buyer pools. When you list with a top producing agent, your home is exposed to more buyers because an agent like this will market that property on the MLS and the hundreds of different websites of which most sellers are unaware. More exposure means more buyers and more offers.
What you may risk losing, while trying to save on commission.
If you are in a hot market you may say to yourself, why should use an agent when I can sell the home myself and eliminate the 6% commission and put it in my pocket? Well in theory you have a valid point, however here are some things to consider:
- When selling by owner you still must deal with the buyer’s agents. These agents will try to hammer you down on price and will nickel and dime you on anything they can.
- Unqualified buyers walking through your home.
- Low-ball offers.
- Incorrect pricing making your house sit on the market getting stale.
- The list goes on…
Sometimes it’s the little things that sell a home.
The last thing you want when selling your home is to leave money on the table. A successful real estate agent will provide many benefits complimentary for which you cannot do on your own. Things like, professional photography, staging, marketing locally, nationally and internationally, pricing the home accurately, negotiating fiercely on your behalf to get the best deal for you with the buyer’s agents and much more. When you have a home for sale in a market that is currently low on inventory, having a good agent can net you more money, and sell more quickly, with less hassle then you ever could on your own. There are some agents who may offer sliding scale commissions and other For Sale By Owner programs that are attractive to those who want a little help from an agent, but don’t want to pay the full commission.
Before making any decision, educate yourself.
The need to educate yourself before you undertake the process of selling your own home can’t be stressed enough. Start researching the rules and regulations concerning real estate contracts and conveyance. Find out about liens, easements, inspections and all other key areas that will impact your ability to get your home sold. When selling your own home, there are a lot of hats that you’ll have to wear. Of course, it never hurts to get legal advice and guidance from a real estate attorney. There is also an abundance of information available online to help guide your education. One of the best resources is available at AdvantageU Home Sellers’ Resource www.advantageu.com. At the end of the day, you may find that selling on your own is not worth the effort or time. If so, you should consider investing your time and effort in finding an agent who has a strong track record of selling homes in your area fast and for top dollar. Even better, look for an agent who has been certified by AdvantageU.