Home owners are often stuck in the battle of deciding whether to hire a real estate agent or sell their homes themselves. While you may want to sell your home yourself, remember that each option has its own merits and demerits. One reason many home owners want to sell their homes themselves is because they will make more profit since they won’t be paying any commission to agents. This, however, comes with a price. How knowledgeable are you about all the steps involved in selling a property? If you miss any step, you might be in for some rude shock.
Firstly, while hiring a real estate agent to sell your home is something recommended, it is not mandatory by the law. But in some states, you need to have a real estate agent to take care of the paperwork required for closing a home sale.
If you have made up your mind to sell your home by yourself, then you will be getting the full sale price without the need of settling commission fees. Selling your home by yourself, which is known as “for sale by owner” exposes you to the struggles real estate agents go through. If the market in your area is a buyer’s market, then you will have to face fierce competition from real estate agents. On the other hand, if it is a seller’s market, you will enjoy selling your home easily by yourself. You may want to sell your home by yourself especially if you are not in a hurry to sell it, but if reverse is the case, then you should hire a real estate agent, an expert in the field to make things faster and smoother for you.
If, however, you have decided to sell your home by yourself, you need to do much work required by a real estate agent, such as understanding the law, and knowing the paperwork required. Understanding the legal process could be complex, so you need to be really prepared.
Listing your home shouldn’t be difficult, however you need to do it right, especially when it comes to photography. There are several sites to list your home online, and one way to increase your chances is by listing on Multiple Listing Service (MLS), which increases your chances.
Even if it isn’t mandatory to use a real estate agent, hiring one obviously helps reduce the burden on you for marketing your home and also undergoing the stressful legal process. With a real estate agent, you also will likely reduce the time frame your home sits on the market because these agents are experts and know exactly what to do, helping you in complex transactions and paperwork.
Selling your home by yourself surely will reduce the expenses involved and give you more profit, but can you handle it? it is highly recommended that you overlook the commissions involved and hire a real estate agent to assist you sell your home especially if you are not experienced in legal issues and all the processes involved in closing the sale.