Selling Your Own Home: Pros and Cons

Selling your home on your own can be a lucrative idea—you control who sees your home and when, you control the negotiations, and you keep the entire commission fee. However, looking past the glittery exterior, selling your home on your own can lead to a slew of problems that can possibly inhibit the sale, garner you less money than what your home is worth, and add on stress. This week, we take a look at the pros and cons of selling your own home.

Of all the pros of selling your own home, the biggest is the commission fee. A 6% fee on a $250,000 home is $15,000, money that can be put to good use. In addition, you get to pick the price of your own home. Since you know your home better than anyone else, you have the ability to price it as you see fit. Not only that, but when it comes time for negotiations, you can tell the buyer what you want, and not have to worry about an agent “getting in the way.”

All that glitters is not gold, and this can be especially true for selling on your own. Sure, when looking at the commission fee, it seems like a steep price, but it is money well spent. It is money that goes towards an agent who will appropriately price out your home (as Quicken Loans claim that the average for-sale-by-owner home sells for 15% less than standard). An agent also has the means to advertise your home, not only with lawn signs, but also through several sites that are only accessible to licensed real estate agents. The agent will also show people around an open house, without you even being there, and will act on your behalf at negotiations, taking the stress out of the process. Agents can pick out qualified buyers from the lot, leaving you with a better chance of selling your home in less time.

Selling your home on your own can be tough, and there are several options to weigh when considering selling your home on your own. For those looking for an assured sale in little time, opting for a real estate agent is most likely in your best interest. The commission price may seem steep, but it is money well spent. It is money that will save you money, time, and a whole lot of headaches.

Give us a call today to get your listing up on the market. With our team of dedicated and experienced professionals, you can be assured that you are getting the best real estate agents that money can buy.