Does it make sense to hire a realtor to sell your home? With the market being as hot as it is, it might look like selling your home for sale by owner might be the way to capitalize on saving on the commision. Here’s 7 reason why people that choose to sell their homes without the help of a realtor may not be saving as much as they think.
1) Establishing a price.
Realtors have a clear understanding of the market. They have a list of tools and knowledge that can get them a clear price of what a home is worth. Many times for sale by owners will underprice their homes and miss out on money that they could have made. On the other hand, they may list it way above market and not sell their home at all. Coming up with the right price is the key to making the most amount of money possible.
2) Sign and newspaper ad’s just don’t cut it.
To maximize profits on the sale of your home, you must get it out to as many potential buyers as possible. Realtors spend thousands of dollars a year on marketing to get homes sold. With the hundreds of websites that realtors get their listings to, it’s nearly impossible to match the marketing you would get with the help of an agent.
3) Craigslist can be dangerous.
If you’re internet-savvy, most people know about craigslist and/or similar sites. Most home buyers use the internet to find a home. These websites seem to be a great place to advertise, but they are also a happy hunting ground for scammers, criminals and dangerous people that you do not want in your home. Using a realtor will not only get your home out to the best websites but the buyers that will be viewing your home will be ready, willing and able buyers.
4) Your Facebook friends are not in the market to purchase your home.
Marketing via social media, what could be better right? Sure, you might have hundreds of Facebook friends, so there is a large audience that you could advertise your home to. Think about it, how many actually live in your area and are looking to buy your home? If you happen to sell your home using social media, you will be one of the lucky ones.
5) Realtors have all the right tools.
Realtors spend thousands of dollars to get homes sold. Lockboxes, signs, Multiple Listing Services, and leads cost a ton of money and that doesn’t include additional marketing and other things that go into listing a home. Realtors have the ability to get your home out to the mass market of buyers who could be a potential fit for your home.
6) They can’t buy it if they can’t see it.
One thing that you might not take into account as a potential for sale by owner is how open your schedule has to be to show your home. Are you really going to be able to call in sick or cancel plans everytime someone wants to see your home? Buyers aren’t going to wait around until the time is convenient for you. A realtor, on the other hand, doesn’t need to take time off from work because that is their job and they can place a lockbox on your home that other Realtors can access. The lockbox also tracks which realtors enter your house.
7) So. Much. Paperwork.
Selling your home is pretty hard work! Not only do you have to find and vet buyers, but once you have found one the real headaches begin. Every detail must be attended to in order to make the sale go through… and there’s more. If you neglect something crucial like a mandatory disclosure, you may find yourself facing not just the loss of the sale, but also potentially serious legal repercussions. There is some paperwork to go through even if you work with an agent, but the agent can navigate it and knows what’s required. It makes it a lot easier than doing it yourself.
There is a reason why more than 90% of sellers use an agent to sell their home. Not every agent is the same, so make sure you do your due diligence and hire the right one that fits your personality. If you have questions about what makes a good listing agent, or you’d like more information on what our team does to get your home sold, give us a call at 828-338-8312 or email us at email@example.com. The thing we love most about our jobs is how many people we get to help every year!
-Grant Gajdosz, Listing Specialist