Selling your home can often be as stressful, if not more so, than buying your very first home. You have so many more responsibilities not just to yourself but to your potential homebuyers that you find yourself busier than ever trying to answer so many questions you may have. Who are the right buyers? How do you go about selling your house? Is it better to try to sell your house on your own and save yourself the commission? While many of these questions can be hard to answer (the right buyers will reveal themselves in due time) we can answer the most important question about selling your home by yourself. Some home buyers consider trying to sell their home on their own without the aid of real estate professionals. We believe that this is a mistake for most homeowners and we have 5 reasons to support our premise: There are too many people to negotiate with. Here is a small list of the people you must negotiate with if you decide to sell without the help of a real estate professional.
- The buyer.
- The buyer’s agent who solely represents the best interest of the buyer.
- The buyer’s attorney.
- The home inspection companies that work for the buyer.
- The appraiser.
- Your bank.
Exposure to prospective buyers. Recent studies have shown that 92% of buyers search online for a home. Comparatively, 28% look in the newspaper ads. Most agents have an extensive internet strategy to promote home sales. Do you? The internet produces results Where do buyers fin the home they actually purchased?
- 43% on the internet.
- 9% from a yard sign.
- 1% from newspapers.
The days of selling your home buy putting up a sign and putting an ad in the paper have long been gone. The internet is the way of today. FSBOing has become more and more difficult The paperwork involved in selling a home alone has increased dramatically as regulations have become mandatory. This is only one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20 years.
You net more money when using an agent. This is by far the most important point of all. If your entire goal is to get the most money for your home upon its sale then using a real estate agent to do what they do best will net you the most money. Most buyers look to sell their homes on their own to avoid paying the commission they would normally pay a real estate agent. The funny thing, even after you subtract the commission most sellers will end up netting more money than if they went at it alone. The bottom line is that selling your home on your own is not the magical pill you may think it is. What you think you save in commission you end up losing in the overall sale price of your home. Point being, if you want to sell your home, do it with a professional guiding you. You’ll be glad you did.