If you’re considering selling your home without a Realtor, you probably want to save some money. You know you have to pay a portion of your profit to the Realtor, so cutting that person out will help. However, it’s not always in your best interest. Consider the following before you make a final decision about selling your home without the use a professional.
You Need to Market Your Home to Sell It
There’s a reason Realtors make a living from selling homes – there’s a lot of legwork that goes into it. One of the biggest jobs Realtors have is marketing homes. They take the information for the home and place it in publications that are distributed all over the community. They will also enter it online, so that the home is featured on real estate websites. Many of them will market homes on social media and other websites that have an audience that may like your home. Realtors have a lot of tricks to get homes in front of the right eyes.
This could mean that selling your home could take longer. If you’re looking to move quickly, you may end up losing money if you don’t use the exposure a Realtor can give you.
There are Many Legalities in Selling a Home
When someone is interested in your home, you need to ensure you have a contract in place that will protect you from any complaints the buyer has throughout the process.
It’s best to have a lawyer on your side to ensure you are doing everything right legally as you go through the selling process. You will have to pay for his or her services.
You May End Up Selling Your Home for Less
A Realtor has access to comps that can help you price your home. Your asking price may be much lower than what a Realtor would advise you, or it may be too high, and then you drive people away.
When someone is interested in buying your home, he or she will usually offer a price that’s less than what you’re asking. Negotiations can be difficult because not only will you have to decide on a final price, but many buyers want more added to the price. For example, they may want repairs or certain items in the home to convey, such as the washer and dryer, window treatments, etc.
A Realtor is used to the haggling that often comes with offers. These professionals can come up with ways to get you the best price possible without having to include more than you want with the house.
Another situation that comes up often is a problem with appraisal. After you and the buyer have settled on a price, the appraiser may come in and report the house isn’t worth as much as you’re trying to get for it. This means you either have to lower the price or the buyer is going to have to pay the difference in cash. Since most buyers can’t afford to pay thousands of dollars more than what they are getting a mortgage for, the seller usually goes down in price or cuts the buyer lose. Either way, you could end up losing money and time.
Realtors know how to work with appraisers to show them exactly what they need to see when they appraise a home. The chances of them appraising the home for what you’re asking for is much higher when they do this, which can make the commission paid to the Realtor well worth it.
While it can be tempting to save money by forgoing a Realtor when selling your home, it’s not always the best way to save. Consider using a Realtor and cut costs in another way. You can ask your Realtor how to do this, so you can get the best deal possible on your home sale.