It doesn’t pay to try and sell your home yourself; here’s why.
Are you thinking about selling your house yourself? It sounds like a great idea on paper; the market is so hot that homes practically sell themselves, right? This way, you don’t have to pay a commission. However, are you truly marketing your home to its full potential? Today I want to discuss why it may not be a good idea to sell your home without an agent.
By yourself, you may be able to make a flier, put a sign in your yard, and even put your home in the MLS. However, there’s a lot more that goes into marketing than that. Each market is different and has its own unique set of circumstances. In many areas, offers are written and accepted before inspections are completed. This opens the door for the buyer to renegotiate the purchase price. Wouldn’t it make sense to do an inspection upfront so that the buyer has less leverage during negotiations? This is common sense to an experienced real estate agent, but you might not have considered it until it was too late.
“Many buyers think FSBO listings are an opportunity to make an offer below market value.”
Another issue with selling your home yourself is that fewer buyers may see your listing. Without the proper marketing, you have fewer eyes on your house and fewer opportunities to drive competition. Even if buyers do see your home online, they may assume they can save money on their offer because you’re saving money on commission.
I recently worked with a buyer who purchased a for-sale-by-owner home, and I learned firsthand that you can often get away with lowball offers. The seller received multiple offers, but they didn’t have the experience necessary to turn their situation into a great sale. I helped my buyer win the home with an offer far below market value, and if you sell your house yourself, many buyers and their agents will be waiting to take advantage of your inexperience.
Ultimately, you have the control as the seller, especially in this market. Hire a good agent and make sure you don’t miss out on a great deal. If you have questions about today’s topic, please call or email me. I am always willing to help!