Top Mortgage Brokers

Apr 29, 2016

Why It's Not A Good Idea To Sell A House On Your Own

Category: Articles
Posted by: admin

When it comes to selling a home, many homeowners want to save as much money as possible to ensure that they can walk away with more money once they find a buyer. Many people assume that they can sell their house on their own without having the help of a real estate professional. Unfortunately, selling a home on your own can come with a number of complications due to a lack of experience and can even lead to losing extra money. When listing your property, there are a few reasons why you shouldn't sell it without the help of an agent.

You May Not Be Experienced with Negotiating

Agents are skilled in negotiating and have experience when it comes to going back and forth with a buyer on an offer that is made with potential buyers. Although you'll have to pay for a real estate agent, you're likely to earn more of a profit when your home sells due to the strong negotiating skills of the professional that assists you. There are also too man people that you'll need to negotiate with during the process of selling the home, which includes the appraiser, the buyer's attorney, home inspection companies, and the buyer's agent.

Your Home will be Limited on its Exposure

Selling a home through a real estate agent will allow the property to have more exposure to potential buyers with ads on the Internet, yard signs, and by listing it in the newspaper. Approximately 33 percent of the exposure that your home will have will be due to an agent listing it in a variety of places, which can allow it to sell at a faster rate due to a strong Internet strategy that is in place.

You Won't Earn as Much Money

Using a real estate agent is a wise investment because your home will likely sell for more than you anticipate. Studies show that the average homes for sale are sold for $210,000 and properties that are sold by agents are sold for an average of $249,000. The commission that your real estate agent will earn is only a fraction of the extra money that you'll pocket.

You May Have Difficulty Understanding the Paperwork

Anyone who has ever sold a home before is well aware of all of the paperwork that is involved before closing. The paperwork that is involved continues to increase due to added regulations and new disclosures, which can be difficult to understand for the average seller. An agent will be able to assist you with the process of completing the paperwork and understanding all of the terms to ensure that you don't sign anything that is vague or confusing.