Are you looking to sell your home, but worried about paying a commission to a selling agent? If so, you're likely looking into being your own agent with a FSBO sale. While this may seem like a great idea, not having your own realtor can actually cause some big problems. Here are some of the problems you can have when you act as your own agent.
Pricing The Home
The first step in selling your home will be deciding on a price. This can be a huge hurdle if you've never gone through this process before, since you won't know the appropriate price point to sell your home. Listing a home too high can result in no interest and wasted time sitting on the real estate market. Listing a home too low will result in a quick sale, but thousands of dollars lost.
A realtor can help price your home by analyzing the market. They'll find homes that recently sold that are similar to yours in terms of features, construction, layout, and square footage. This will help determine a realistic price of what you can expect to get from your home based on market trends rather than a gut feeling.
Hosting Open Houses And Showings
One part of putting your home up for sale is hosting open houses so that potential buyers can come in and see the place. However, you'll notice that buyers act quite differently when the homeowner is in the house while they are trying to view it. Sellers may be more reserved about speaking honestly about the house in fear of offending you, and may not ask questions because they feel like they won't get honest answers. This can lead to wasting time by hosting open houses that do not attract a buyer.
You'll also be the one responsible for hosting a showing for an individual buyer. Are you prepared to leave work at any time because a real estate agent wants to show your home to a buyer? You may be up for it once or twice, but it could take dozens of showings to find a buyer. This may not be realistic for you to do on your own, causing you to miss out on a sale due to having a day job.
A real estate agent can bring many benefits to selling your home. Reach out to find what other services they can perform to help make your home selling process easier.