“For Sale By Owner” (FSBO) can seem like a great way for homeowners to save some cash in the sale of their home, but there are factors that you should consider before taking the plunge to sell your own home. Below are 8 great reasons to hire an agent.
1. Selling your home can be very emotional
With an agent as an intermediary, sellers avoid common emotional FSBO mistakes such as over-pricing their home or relenting during negotiations.
2. Buyer’s agents can be reluctant to show FSBO properties
Unless there is very little inventory on the market, buyer’s agents are hesitant to work with FSBO sellers because they tend to be viewed as unrealistic and difficult to work with.
3. It’s all about the network
When you hire a good agent, you gain the benefit of that agent’s vast network. An agent’s personal and professional network can expand the pool of potential buyers, producing higher demand for your home and a quicker sale.
4. When you can’t quit your day job
Real estate is a full-time job. Buyers will want to see your home during regular business hours, making it tricky for a homeowner who has other commitments to drop what they are doing to show their home to prospective buyers.
5. Negotiating can be a daunting task
Real estate agents have specialized experience in negotiating real estate contracts. Agents understand what terms may be worth negotiating and what is worth holding back on, based on local market conditions and customs.
6. Pointless showings
Agents act as gatekeepers to those wanting to view your home. They know what questions to ask to make sure that potential buyers are qualified based on seriousness and motivation, saving you time and energy by avoiding fruitless showings.
7. Sellers need constructive criticism
Agents know what can make or break the showing of a home. They see flaws that homeowners overlook and can help to determine which upgrades are necessary and what will attract buyers.
8. Liability and the risk of being sued
An expert eye is vital in the home selling process. Legal paperwork can be intimidating and, if not completed correctly, can leave the seller at risk of being sued.
Your home is your biggest investment, and the sale of your home is one of the most complex transactions of your life. Before deciding to sell your own home, consider the benefits of hiring an expert to get the most out of your investment, while saving you time and frustration in the process.
Barry Remington 720.373.9297 bremington@wkre.com