For sale by owner or realtor? It’s the question many homeowners use when making the decision to put their home on the market, and it’s not always an easy decision. Many homeowners want to make the most profit, and that means avoiding the fee charged by realtors. It’s not uncommon for homeowners to consider this, but it’s not always the most profitable decision. Sellers want to make the most money and it seems avoiding a realtor’s fee is the best solution to that problem, but it’s not always. Sometimes the best solution to the problem is to do it right the first time. Learn more by visiting this website before you make your final decision.
If you don’t work in the real estate industry, you might not be aware of the full value of your home. Do you have equity? Is it worth what you imagine it’s worth, or is it worth less? Do you think it’s worth more because it’s your home? There’s nothing you can do worse than assuming you know the value of your home without doing the work. What are houses similar to it selling for in the same neighborhood? What is the cost of recent sales, how is the market, and what do you have to offer that other sellers don’t?
Now that you know the value of your home, what will you sell it for? A realtor can help you come up with a list price. It’s a bit higher than what you want to sell it for so you have room to negotiate the price, but it’s also a bit more than that. If you choose to sell your home on your own, pricing it too high means you’re saving very little. When your home sits on the market for a long time, people are less interested in it. Even if you drop the price, they see the home has been listed for so long and decide there might be something wrong with it.
What if Something Goes Wrong?
The biggest problem many homeowners face when selling their own home is the potential for problems. You’re not experienced in negotiating sales, understanding what happens next, and handling the minor details associated with a sale. What if the closing is pushed back? What if the buyer asks for contingencies? What if the inspection comes back showing a few serious issues? If you’re not prepared to handle these issues, you could find that selling your home becomes more of a hassle, and it means a lot less savings.
Selling your own home is something you can absolutely do on your own. Is it something that will save you money? It all depends on how you handle the situation and whether you can avoid making some of the most common mistakes homeowners tend to make when selling their own homes. If you can do that, you can make a profit on the sale of your home without much issue.