There is a For Sale by Owner movement whereby, some people choose to forego the services of a Realtor. The thinking is that if real estate agent commission fees don’t apply, then greater profits can be realized. Then again, by using a Realtor, you can potentially achieve much more value for your pride and joy.
It’s all a matter of choice. And an important one at that. One that could make you significant portions of money, or not. And because you’re the owner, the choice is yours. That’s why it pays to be informed.
In this blog, we’ll look at the top reasons for selling yourself versus going with a real estate professional. That way, you can decide what’s right for you. Without any further ado let’s jump straight into it!
Top reasons for selling real estate yourself
#1 – No one understands your house better than you
You know what the unique selling points of your house are. You know what first attracted you to buy it. Whether you purchased the home as an investment or to live in, it has formed a large part of your life. When the time comes to pass it on, it only makes sense that you want to do this on your terms. Plus, no one will be able to describe what it is like to live in your beautiful home better than its owner, right?
#2 – It’s easier to sell your own home these days
The internet makes selling your own home now more possible than ever. Gone are the days when you relied upon real estate agents to whip up some recent comparable sales and some well-chosen words and snap off some photos to extol the virtues of your property. These days, you can find your own data, design flyers, and pay for your own real estate advertising.
#3 – Greater profit
Most people who choose the FSBO option believe they will walk away with more profit. Rather than having a real estate agent’s commission come out of the sale price, they see themselves pocketing the usual fees of up to 5%. This does sound good in theory.
Top reasons for selling with a real estate agent
#1 – Expertise
A professional real estate agent has specialist knowledge, training, and experience. They understand exactly what buyers are looking for in different neighbourhoods. Agents understand buyers’ objections. They can help sellers fix any issues before listing, so the house can be viewed in its best light. Their intimate knowledge of property markets and buyer psychology means they can put their skills to good use. Realtors use staging to highlight the best features of your home and get a better final sale price.
The buyers know that a FSBO does not have the knowledge or resources to fully understand all the details surrounding the sale of their home. They want to take advantage financially and legally of the seller’s situation. Not to mention, most FSBO sales have a buyer agent asking for at least 2% on the buyer’s side. The Buyer has an agent or some kind of advisor helping them to make decisions. The Seller, on the other hand, has no one working in their best interest. A Realtor is an asset when looking over the clauses, conditions and warranties in the paperwork and debating all the scenarios.
#2 – Convenience
There is a lot of stress while steering the entire sales process yourself. Selling real estate is what professionals do each and every day. This means they have processes in place to ensure things go as smoothly as possible. A real estate agent can help you sell your home faster, and for a higher amount. Most of us lead incredibly busy lives. Not every seller has the time and energy to transform themselves into real estate agents. When you choose to go with a professional, you are relying on their years of industry insight and experience. You are choosing to let the experts guide the entire house sale process. You will receive a more lucrative result than you could otherwise achieve on your own.
It is relatively straightforward to advertise your home for sale online. However, this is only the beginning of the sales process. Realtors spend a considerable amount of time going back and forth with potential buyers and their representatives.
#3 – Greater profit
Real estate agents practise the subtle art of negotiation every day of their working lives. This means it is more likely you will get a better price for your home with a real estate agent, than without. Working with an agent means gaining access to not only their market knowledge, pricing strategies, negotiation skills, but also their understanding of the legal implications of each offer.
Another critical factor is that real estate agents understand how the ever-shifting property market impacts house prices. This means they are in an ideal position to ensure your listing is ideally priced in relation to what the market is doing. You will attract the most buyers, achieve better offers, and most importantly not leave any potential profit on the table.
Final thoughts
When it comes to selling real estate, FSBO seems like an attractive option. That is until you realize it’s the Buyer who most benefits. Why is that? – I hear you ask. Buyers can easily take advantage of this situation and get a deal for themselves. They want the discount of all commissions for themselves. Rarely does the Seller achieve full market value in a For Sale by Owner situation.
Selling a home is likely going to be one of the biggest deals you do in your entire life. So, why chance it? Making a mistake could mean leaving tens of thousands of dollars in profit on the table. Worse, it could mean legal consequences. Selling real estate is a complicated undertaking. There is a lot of necessary paperwork that needs to be filed correctly. Letting a real estate agent guide you through this process makes sense. It lowers the risk, removes the worry, and puts you in the best position to realize the profit potential of selling your home.
If you are looking for a Realtor who is just as passionate about your house as you are, look no further than the professionals at Helen’s Team. They have a deep affinity and inside knowledge of the communities of Kitchener, Waterloo, Guelph, Cambridge, and surrounding areas. Their strong knowledge of the overall market, as well as individual neighbourhoods, is what sets Helen’s Team apart from other teams. Let them put their real estate experience, and staging expertise to work for you. That way you can make the best possible start on the next exciting chapter of your journey.