Selling a house can be a work of art. You have to perfect a property and convince people to buy it from you. Sounds easy? Well, it isn’t really.
There’s so much behind selling a house, from the acquisition to signing a deal with the buyers; it can be a long process. Many people who want to sell their homes have this misconception, and they don’t realize how important it is to know about selling a house until later.
So what should the seller do? Should you sell your house on your own? Or do you hire a realtor? What are the pros and cons of selling your own house?
Selling a house is not just a transaction but an emotional process; therefore, it is very important that the selling process is easy, simple, and, most importantly, successful. This selling process can be done in two ways – For Sale By The Owner (FSBO) and selling through a realtor. Both of these two have their advantages and disadvantages.
But do you know which will benefit you and your house the most? If not, then you should read this till the end to know if you can sell your house on your own or if you should work with a realtor.
Selling your house on your own-
- The most obvious advantage of selling your house on your own is that you will be able to pocket the entire realtor’s commission, which can be as high as 6% of the final sale price.
- You are in complete control of the situation and can make decisions accordingly. The timings of the showing, visits, meetings with potential clients, the offer prices, how much you want to negotiate, what terms you want to be flexible, etc., will be decided by you.
- You will also better understand your house since you have lived there for a long time and know all its nooks and corners. This will help you answer any queries that a potential buyer might have. You know your home the best, so you know which features of the house will be more liked by buyers. You can use that to your advantage.
- Since you will be dealing with the buyers directly, it might be emotionally tough to handle lowball offers or rude comments. When you have that connection to your house, it might get difficult for you to hear any negative comments about the house.
- You might not be aware of the legalities of selling a house, which might lead to problems later. When selling a house, you need to know all essential legal terms, as not knowing them can get you into trouble. So you need to know the rules, laws and regulations.
- It will be difficult for you to market your house effectively since you do not have the necessary resources or reach that realtors do. Simply putting an advert of your house for sale might not work out. You need social contacts with people that could either be your client or could bring in one.
Selling through a realtor-
- When you work with a realtor, you get access to their vast network of potential buyers, significantly increasing your chances of selling the house quickly and at a reasonable price. Realtors usually have a long-term experience in this industry, which can be very helpful.
- Realtors have experienced professionals and are well-versed in the legalities involved in selling a house. This takes a lot of burden off your shoulders. They will take care of many things, and you don’t have to be worried about anything.
- They will also help you determine the right price for your house after considering various factors such as location, amenities, recent trends, etc. realtors know the home selling prices in different areas. They will also help you get the best price from buyers and help you negotiate.
- A realtor will be able to market your house effectively and help you stage it in a way that makes it more appealing to the buyers. Realtors will set up and stage the house for you, and they’d do it in a way that would make the house more attractive and clean.
- While the entire process might be a little stressful, working with a realtor will help you sell your house quickly and without any hassles. The realtors will take over, and you’ll get to sit behind and relax as he will make sure that
So, these were some pros and cons of selling your house on your own and through a realtor.
You can sell a house on your own, you just have to remember what sacrifices you have to make. Having a flexible schedule, you’ll have to understand the market and pricing strategy, there won’t be any extra expense of giving commissions, and you’ll know how to market the house in the best way.
While working with a realtor will make the process easier for you, you’d be working with an expert who will take care of staging the house and marketing it to different buyers, they have a vast network, and also, years of expertise surely work like a charm.
We hope this was helpful. If you have any queries, feel free to reach out to us. Thank you for reading!
