For Sale By Owner — Is It Really Beneficial?
“Should I hire a realtor? Or, do it myself?”
This is often a common question home sellers face when deciding to list their home on the market. But what makes it worth it, sidestepping a professionals help?
Let’s weigh out some of the negatives and positives.
WHAT ARE THE BENEFITS OF SELLING YOUR HOME WITHOUT A REALTOR?
If you’re a self starter and go getter, you could probably swing the for sale by owner process. There’s also a ton of readily available information on the internet on the process of selling a home. However, if you’re not careful, a lot could go wrong if you’re not completely prepared because a lot goes into selling a home.
You’re the boss when it comes to selling your home FSBO, which is a great benefit, however again, you want to make sure you’re well prepared and you know your stuff.
Who’s The Boss? You’re The Boss!
While representing yourself, you have the ability to slow down the process and not feel rushed or pushed to accept hasty offers. You can meet the potential buyers and determine your own negotiations, schedule your own walk throughs all without a middle man.
But, a skill you may not have is the ability to negotiate confidently and have the acquired skill to de-escalate a situation with a buyers realtor, or other party of the transaction. Some conversations may become heated with several parties involved, and navigating real estate contracts take skill and experience which is where a realtor can be on your side during a transaction.
You May Gain Profit?
Another benefit to selling your home on your own is you wave the agents fee, so you’ll potentially save thousands of dollars in that area.
However, a realtors job is to prepare the whole process for you, which means they’ll help select the closing company on your behalf, communicating and processing documents. So, if you plan on representing yourself, you’ll want to be sure to prepare the fees of closing and title work in advance and have all your documents and plans in order for when the sale goes through. Getting those numbers wrong could put a dent in your money book.
An added value of a real estate agent is that they are a third party who is not emotionally invested in the house itself. We mentioned real estate negotiations can get heated, well, navigating those tough conversations is what agents do daily. Two professional agents hashing it out is always better than a homeowner and homebuyer going toe-to-toe and then having the entire deal fall apart.
They’re licensed and well versed in your states laws which can also give you peace of mind when it comes to the transaction. Becoming a realtor requires several study hours, pretty intense testing and, they’re required to maintain their license through continued education.
Ultimately, hiring a realtor is worth the money to have your back, keep your peace of mind and to take any added stress of your plate. Selling a home is a whole process on its own when you have to purchase another home, pack and move your belongings, so let a professional have your back so you can focus on what matters.
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