You might think that listing your home as for sale by owner (FSBO) is a great way to save money. When you sell your own home, you don't have to pay a realtor a commission. However, if you don't have the time or knowledge to market your home properly and negotiate a great sale price, for sale by owner might cost you more in the long run.
1. Realtors Spend All Day Selling Houses
The biggest difference between you and a realtor is the amount of time either of you can devote to the marketing and selling of your home. If you already have a full-time job, you will find it extremely difficult to find the time to place ads, schedule showings, negotiate pricing, and draw up contracts—all necessary steps in selling your home.
On the other hand, a realtor spends his or her entire day doing just these things. And, because the realtor has sold many more homes than you have, they know the most practical ways to reach a successful sale.
2. Realtors Know Their Trade
Have you ever looked over a real estate contract or any contract for that matter? If so, you know that they tend to be long, wordy, and complicated. When you hire a real estate agent, you don't have to worry about dealing with the complexities of developing a real estate contract on your own. Your realtor will know exactly what your contract needs to include to protect you. Other tricks that realtors have come to master include:
- Determining a fair market value for your home
- Weeding out people who aren't very interested from serious home buyers
- Tapping into a large network of resources and contacts
3. Realtors Convey a More Professional Image
No matter how hard you try, you will never be able to match the professional image that a real estate agent can convey. The moment a potential buyer learns that you are the owner of the home, a series of questions may go through their mind:
- Why haven't you hired a real estate agent?
- Are realtors avoiding you?
- Is there something wrong with the house?
In addition to bringing a professional touch, realtors are also a more neutral party than you can ever be. You are sure to have hard work and good memories invested in your home. This might cause you to overvalue your home or take criticism more harshly than someone who doesn't share the same sentiment. When you hire a realtor, you can count on them to be objective and supportive.
There are lots of ways to save money when it comes to your home, such as performing your own maintenance and engaging in home improvement projects. However, when it comes to selling, the job is best left to a professional. Talk to resources such as Century 21 Dynamic Realty for more information.