With the declining housing market, many potential home sellers are weighing in on the task of selling their homes themselves to cut the costs of hiring a realtor. While this may be beneficial to some, the negatives outweigh the positives. Here are a few reasons why it is not a good idea to forgo realty guidance to sell a home:
One of the first steps with selling a home is finding a market. This task can be difficult without the assistance of a realtor. You may not be able to market your home as well as a realtor can. Realtors are trained professionals, and a realtor's business is making a home sellable. Marketing on your own can be a daunting task for the first time home seller. It is a realtor's job to advertise your home and promote its availability. Realtors have experience and knowledge of the real estate market and can help you to determine your home's selling price.
While you may be up to the task of putting your own house on the market, negotiating a price with potential buyers is only a quarter of the work. A realtor is a professional negotiator. A real estate agent is not only proficient in locating prospective buyers, but an agent can also utilize a larger housing market that will guarantee an effective and lucrative sale. With the assistance of a realtor, your home is more likely to sell in a timely, cost-effective manner.
One thing that every home buyer thinks when they see a "For Sale by Owner" sign is that the price will be lower than if the home was being sold by a big name realty firm. While this may work out for the buyer, it may not be in the best interest of the seller. A realtor can not only screen potential buyers for you before they take a tour, they can also evaluate and ensure their ability to afford the cost of the house.
The task of closing the sale and writing up paperwork for your home can be grueling. The benefit of a realtor is that they do all the hard work for you. Realtors are trained in writing up all of the closing paperwork and handling all of the closing proceedings, so this will alleviate any stress on the home seller. A realtor will also act as your representative, so any questions or concerns a potential buyer has, a realtor can address those concerns on your behalf.
While it may save you some extra money in the long run, deciding to sell your house without a realtor can ultimately cause more stress and require more work. A realtor can actually become more cost effective because not only can they assist you with low cost improvements that may be necessary to sell your home, but a realtor more often that not can secure a higher price for your home.