If you've been talking with a real estate agent about selling your home, you may be hesitant to pay the commission fee that they charge. As a result, you might consider listing your home personally. This is a viable option, but it comes with some unique challenges. If you truly want the best results from your sale, here are some of the things that you need to think about.
By-Owner Might Not Save You Money
Selling your home yourself may be tempting when you consider the fact that you won't have to pay a percentage of the proceeds to a real estate agent. This can add up to substantial savings, especially with a high-dollar home. However, not paying a seller's agent may not actually save you the agent's commission fees. In most cases, the buyer's agent is paid out of the sale commission as well, which means you'll still have to pay the buyer's agent. This can significantly reduce your savings.
In addition, you may find that your home doesn't sell for as much when you list it yourself as it could sell for with the help of an agent. Not only might you lose some potential revenue on the sale, but you'll also be responsible for paying for any marketing and similar investments needed to complete the sale.
Pricing Can Be Complicated
Real estate agents are trained to estimate the sale price of a home based on a variety of factors, including not only the home's construction and features but also the market pricing in the neighborhood. When you try to price the home on your own, you may not have the expertise to do this. In addition, online home value estimation tools may give you accurate estimates of the structure, but they cannot account for the neighborhood valuations.
To truly get an accurate list price for your home, you'll want the expertise of a real estate agent. This can save you from overpricing your home and delaying the sale or underpricing your home and losing out on potential revenue.
Showings Take Time
When you list your home yourself, you have to be the one responsible for scheduling and handling all of the open houses and showings. This is time-consuming, and if you don't have the time available to handle this, it can be challenging. Not to mention, it can be hard to remain impartial with prospective buyers, so you need to consider the benefit of separation.
Working with a real estate agent gives you that separation and unbiased expertise to have someone else show your home and potentially close a sale for you.