In a market where homes may be flying off the shelves so to speak, you may be thinking, “Why in the world do I need a real estate agent? Can’t I just do it myself?” While the appeal of not having to pay a commission to an agent to sell your home may be incredibly attractive, there are pros and cons to think about if you are considering selling your home yourself.
PRO. You are in control. Everything from how your home is marketed to how the contract is written, you have full control in the matter.
CON. You won’t have professional guidance. There is much to be said about the best way to price, market, and negotiate a sale, and unless you were a real estate agent in the past, you probably do not have this knowledge.
PRO. You know your home well. No one can sell the home like you do because no one knows the home quite like you.
CON. You won’t have professional marketing. From professional photography and marketing campaigns, to the MLS and Association Networks, real estate agents without a doubt can have a more aggressive marketing strategy than the layman.
PRO. Low inventory means buyers may be looking at FSBOs. When inventory is low, buyers begin to look at For Sale By Owners. This could mean more attention to your home and a quicker sale.
CON. FSBOs typically have a slower sale. Real estate agents have one job – to sell your home. So likely they are going to speed along the process of getting your home sold.
PRO. You don’t have to pay a listing agent commission. While a buyer’s agent who bring you a sold buyer may ask that you pay them a commission, you would not have to pay a listing agent saving you thousands of dollars.
CON. FSBOs usually have a lower sales price. Many times, real estate agents are worth their commission. Studies have shown that listing with an agent can bring a higher purchase price, usually enough to cover the commission and then some.