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Why You Should Never List A Home “For Sale by Owner”

Why You Should Never List A Home “For Sale by Owner”Sellers sometimes believe that selling their home without the help of a real estate agent will be quick and painless, however that is not the case. If you are considering listing your home as “for sale by owner,” first, consider these reasons why you should hire a real estate agent:

Paperwork.

Selling a home is not all about listing off the features of your house and signing on the dotted line. A lot of the work that goes into accepting an offer and closing on the home is legal paperwork, and many sellers who try to do it alone quickly become confused and agitated. Of course, many sellers take to the web to download a contract template, but then forget that there are different rules depending on the state that you live in. They also forget that it is almost impossible to find a pre-made real estate contract that covers everything you need to sell your home, since each transaction is so different in the industry. Let real estate agents handle the paperwork and the rest of the sale.

Lower sales.

People who sell their homes without the help of an agent primarily do so because they do not want to pay the agent’s commission check. They believe that doing it on their own will save them thousands, so it’s worth the extra bit of work. However, as of 2015, sellers who listed their home “for sale by owner” did not make as much as sellers who worked with an agent. The median selling price for “for sale by owner” homes was $210,000 while the median selling price for homes sold by an agent was $249,000. If you think you’re saving money by not hiring a real estate agent, think again!

More time on the market.

If you want to sell quickly, then work with an agent who has a connected network of other agents and buyers who will be interested in your home. When you work on your own, you don’t have someone who is dedicated to marketing your listing out to the community, so the house will probably sit much longer than it would if you had an agent. Sellers without an agent probably stick to yard signs and websites such as Craigslist to get their listing noticed, while real estate agents can contact buyers, list on prominent websites and also host open house events.

Extra expenses.

To sell a home without an agent, you will have to be willing to invest money. Sellers will have to pay for the home to be photographed, the signage, the MLS  listing, an attorney if needed, inspection, and any marketing efforts. It may seem wise to take on this responsibility, but the truth is that selling a home without an agent is an expensive, time-consuming and confusing task.

Ready to sell your home with the help of a qualified real estate agent? Contact our team of real estate experts at Coast 2 Coast Realty who have years of listing and selling homes in the Tampa area.