Are you considering selling your home as a For Sale by Owner (FSBO)? If so, know there’s much more time and expertise needed in that process than you might think. While the idea of doing it all alone might seem tempting, it’s essential to recognize the challenges you may face if you take it all by yourself. As a recent article from Bankrate explains:
“Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.”
Here’s a bit more information on a few things and how you may miss out if you don’t use an agent.
You May Not Price it Correctly.
Pricing your house right is critical to a successful sale. Real estate agents have experience navigating this housing market and understand the art of pricing a home to sell today. Unfortunately, homeowners who sell on their own often lack this all-important experience. That can lead to two common consequences: overpricing or underpricing the house.
An article from Nerd Wallet offers this advice:
“If your home is overpriced, you run the risk of buyers not seeing the listing. . . . But price your home too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the home.”
Don’t run this risk. Instead, partner with an agent to ensure your home is priced at current market value so it catches the eyes of eager buyers. This will put your home in a position to make the best first impression possible.
You Don’t Have as Much Experience in Marketing a House
In this digital age, online marketing has become a real game-changer, especially when selling your home. A recent report from the National Association of Realtors (NAR) explains:
“Among all generations of home buyers, the first step taken in the home search process was to look online for properties.”
When you partner with a real estate agent who knows how to take advantage of online marketing tools and resources, you’ll be able to get in front of these tech-savvy house hunters, boosting your chances of a successful sale. But, if you’re attempting to sell your home alone, you might miss out on the full power of online and social media strategies.
You May Not Be Comfortable Handling All the Back-and-Forth
When you decide to sell your house, you’re not just on a quest to find a buyer but also stepping into a world of negotiations. You’ll have to coordinate with many people, including the buyer, the buyer’s agent, the inspection company, the appraiser, and more. It’s a dance where every move counts and the expertise of a real estate agent can make a world of difference in keeping these negotiations on track and sealing the deal.
As NerdWallet says:
“Your listing agent will also, of course, be on your side throughout negotiations. They’ll double-check paperwork that comes through, communicate with the buyer’s agent and other parties to the sale, and generally stay on top of things through to closing day.”
If you’re considering selling your house and the idea of going it alone has crossed your mind, think through that decision carefully. Let’s connect to discuss how a real estate agent has the experience needed to take all that stress off your plate.
Other educational articles about the market and your home search are under Karen’s Blog. Additionally, explore the search bar for other topics of interest.