In the age of the internet, it seems that anything is possible after a quick “how to” search, including selling your home on your own. But, when you look at the statistics, you’ll find that only 8% of homes sold were done without a real estate agent. And, looking further at those statistics, you can see that FSBO homes are generally sold at a lower price.
Real estate agents exist to ensure that your home sale is as painless and profitable as possible. Here’s why you’ll regret selling your home without a real estate agent:
1. You Don’t Know What You Don’t Know
If you haven’t ever sold a home, you’re unlikely to know whether you’re capable of doing so successfully. But even if you’ve done it before, you might not remember all the things you didn’t know before.
A real estate agent knows how the property market works. They know what sells, and what doesn’t. They know how much money you’ll make, and what you’ll lose. And most importantly, they know what questions to ask you about your situation, and how to answer those questions effectively.
They also know what to look out for, and what to avoid, when it comes to the sale of your home. They know what to say, and what to keep quiet. They know what buyers want, and what they won’t pay for. And they know how to sell a home efficiently, and profitably.
The legalities around the sale of a home are far out of most people’s comfort zone. There are numerous forms that need to be built and shared between the buyer and seller, including the mortgage & loan information, tax documents, the deed, title reports, and more. Top real estate agents who have been in the business for a while have seen and written up multiple contracts, and they’re aware of the issues that can arise from negligence.
3. Negotiating Isn’t an Easy Task
According to the National Association of Realtors®, 98% of the homes sold by real estate agents were sold at the listing price, and only 37% of sellers reduced the price during the negotiation rounds, numbers too significant to point to a coincidence. Negotiating can be tricky, and it can be especially difficult if you don’t have the tools & experience to leverage a sale. For sale by owner sellers might feel nervous about losing a sale if they don’t give into the buyer’s demands. Agents, on the other hand, are well-versed in the reasons why they won’t go down on the price. They know that other homes in the market are likely priced in a similar range and another buyer who will settle for that price will come along.
4. You Don’t Have a Reliable Network to Use
Successful real estate agents maintain friendly relationships with all of their previous clients and buyer’s agents in the local market. If you’ve never sold a home before, you won’t be able to promote your house to an established network of buyers, and you’ll have to run through additional red tape to close the deal.
5. You Don’t Have Time to Waste
You have a career and life outside of selling your home. Taking the time to make listings, communicate with potential buyers, and show the home can burden your schedule. And, if you’re like most people, you don’t have the time to learn how to sell your home without an agent. This is especially where the support of a top real estate agent is crucial. They do all of the legwork and you have peace knowing that it’s handled (and handled correctly).
Ready to get started?
Team Melton has over 50 combined years of real estate experience to assist you through every step of the process. Contact us today to get started on selling your home!