Selling a House – For Sale by Owner vs. Realtor

If you’re planning on moving to a new neighborhood, you will need to find someone to buy your current home first. Thinking of skipping the real estate agents? Well, of course, you can put your home on the market and sell it to potential buyers yourself. You will end up saving on the commissions that would otherwise go to the agents once the sale is completed. But selling your home on your own can be quite a complicated procedure! It shouldn’t be attempted without being aware of a few things first.

For Sale by Owner vs Realtor

Several Negotiations

When you choose to go FSBO (For Sale by Owner), you will need to enter into discussions or negotiations with several people. This will include negotiating with the prospective buyer or buyer’s agent to settle on a price that is acceptable to both. Most often, the buyer will hire a home inspection company which will turn even the slightest fault into a big deal breaker just to give the buyer some leverage. You might have to negotiate with an appraiser and perhaps even your bank in the event of a short sale.

Promotion

When you hire real estate agents, they take care of all advertising and promotion to attract clients. When you try to do this on your own, you will have to pay advertising fees to ensure that your home is advertised on popular home sale sites and local real estate websites and directories.

Getting Less for Your Home

Are you perfectly sure of the market value of your home? Even when you hire professional property appraisers, you could end up with vastly different quotes. If you try to sell your house yourself, you may end up accidentally under-pricing it. In fact, you could potentially end up losing thousands of dollars without proper market analysis. Real estate agents have lots of experience in pricing properties correctly and they could make you a nice tidy profit!

Tons of Paperwork

When you sell a home, you will have to keep a lot of paperwork ready in order to finalize the sale and ensure all legal procedures are carried out. One of the biggest advantages of hiring an agent is that they will take care of all this paperwork for you.

Staging Your Home

Selling a home is just like selling any other product. You need to make it look attractive to potential buyers and convince them that this is exactly what they need. Now, real estate agents have made it their profession to do just this and will be able to take care of all the big and little details involved in staging your home for a sale.

Dealing with Potential Buyers

If you’re putting your home on the market, you need to be prepared for the many calls to view the house that you will receive. Many of the people who come to see your house might not be genuinely interested, may not be able to pay your asking price or might just find faults with anything or everything because they are trying to bargain. Real estate agents can deal with all these types of buyers and weed out buyers who aren’t serious.

Proper Internet Marketing Strategy

Today, most people search the net first if they need to purchase anything. Having an appropriate internet marketing strategy can make your house stand out from rest on the market. Real estate agents know which sites potential buyers frequent and know how to make the most of the exposure that the internet provides.

Real Estate Rules and Regulations

When you are attempting an FSBO (For Sale by Owner), you must research all the legal procedures concerning sale and transfer of real estate in your state. You may even have to hire a lawyer specializing in real estate law to handle this for you because the rules and regulations involved can be quite tricky. Real estate agents are used to the process because they have to do it so many times and hence, it is easier all around to just hire an agent to handle sale of your house.

Dealing with Criticism of Your House

When you are dealing with the potential buyers yourself, you will find that some of them just criticize everything about your home. In such a case, it is best to deal with such criticism professionally and politely if you want the sale to take place.

Hiring real estate agents can save you a whole lot of trouble and can also be a lifesaver if you happen to be too emotionally attached to your home to handle an FSBO so make your choice carefully.

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