Many people are tempted to sell a home on their own because they like the idea of saving that four to six per cent commission they’d otherwise pay a real estate agent. However, selling privately is a lot harder than you think and there are many downsides to offering your home as ‘for sale by owner’ (FSBO).
Consider all the aspects that go into selling a home yourself and know exactly what you’re getting into. Selling a home is hard work and will take up a lot of your time. You’ll need to book appointments and show the property to buyers, hold open houses, negotiate the offers, market the home and deal with all other administration required for the sale. It can be a full-time job, except it’s not!
Benefits of hiring a realtor
Real estate agents are the professionals who know exactly what your home needs to be the most appealing to potential buyers. They have the knowledge and experience to handle all aspects of the sale. They can guide you in choosing the best, most appropriate price at which to list your home. Agents have market knowledge and aren’t emotionally attached to the property. Going the FSBO route can lead to overpricing which could mean your house will sit on the market for too long. Negotiating the sale can be an awkward and difficult thing to do. A good realtor can negotiate more favourable terms, price and conditions for you than you’ll likely be able to do on your own.
Hiring a real estate agent also means you’ll benefit from the services they offer including, staging, professional photography and video, social media and exposure to a wide network of other realtors through multiple listings services.
Think twice about skipping a real estate agent when you sell your home. They’re there to help!