There’s no doubt that this question that as a homeowner this question has crossed your mind at some point or another: Should I sell my property without a realtor? Unfortunately, this is a question that doesn’t have a perfect answer, you can go either way. However, to help you make the right choice, consider our guide below on the pros and cons of selling your home without an agent.
Pros to Selling Your Home Without an Agent
1. Make More Money
If you decide to sell your home without the help of an agent, you stand to make more money on the sale. Real estate agents charge a commission fee based on a certain percentage of the sale price. You can save thousands of dollars by doing it on your own.
2. Give Your Full Attention
Most real estate agents work on selling multiple homes at a time. This means that they spend less time thinking about your home. Since you are just trying to sell one home, you can devote all of your attention to preparing the home and making the sale.
3. You Have Control Over the Sale of Your Home
When you sell your home yourself, you have total control of the sales process. This means you don’t have to listen to annoying recommendations about marketing your home, how you should negotiate, or other complex decisions. However, also keep in mind that making up all the decisions on your own isn’t always a good or bad thing. Being your own boss is a huge advantage, but it also holds plenty of disadvantages.
Cons of Selling Your Home Without an Agent
1. A Lot of Hard Work
Selling your home without an agent requires a lot of time and hard work. Your property will need to be inspected and the proper repairs will need to be completed. Additionally, you will need to photograph, film, list, and show the house all of your own. When you do get interested buyers, you will need to be easily reachable, answer all their questions, show the home on their schedule, and negotiate the price. All of this can be overwhelming if you do not know what you are doing.
2. Bigger Target for Bargain Hunters
People who are looking for a lower price will often visit homes that are for sale by owner first. These buyers assume that you will be willing to sell for less because you do not need to pay an agent. For this reason, you will need to be prepared to deal with these bargain shoppers.
3. Marketing is Difficult
Listing a house online is fairly simple nowadays. However, marketing the home will not be easy, especially without an established network. Good marketing is crucial for getting your listing noticed by the right buyers and your home sold. An agent has an already-established network of other agents working for homebuyers in the area, which gives them a huge edge over anyone selling their home without an agent.