Most people think you need an agent to sell your home, but we want to prove otherwise. We want to share with you the advantages of selling your home yourself!
The first one might be a bit obvious, but….
NO COMMISSIONS!
Real estate agents can charge 6%+ upon the sale of your home, even if you end up selling the home yourself. This is in addition, to the agent fees, administrative fees, marketing fees, photography costs, etc, etc. When you sell your home directly, you will save yourself THOUSANDS.
Sure you will have to do the work of advertising and showing your home, but when you are moving into a new house, having that additional cash can save you a ton of stress! There are always additional costs when you are moving, that’s just life. And keeping some hard-earned money in your pocket will make everything go smoother.
You Run The Show
You don’t want showings this Saturday? Ok, don’t schedule any. When you are working with an agent, oftentimes they will be the one calling the shots. Of course, you are ultimately the owner, but if you hire an agent to sell your home, (hopefully) they will do their job and bring lots of people to see it.
This means weekend showings where you will be asked to leave, evening showings, etc. All of these can occur at the drop of a hat, so you will have to keep your home in tip-top shape while it is on the market.
When you choose not to schedule any showings this Saturday, it’s important to understand the dynamics of working with a real estate agent. While you, as the homeowner, have the final say, a competent agent often takes the lead in strategizing the sale of your property. Their goal is to attract as many potential buyers as possible, which can mean accommodating various schedules and preferences of prospective buyers.
This typically involves being flexible with showings, including weekends and evenings. Prospective buyers may want to view your home at times that are convenient for them, which often means you will be asked to vacate your property on short notice. It’s crucial to keep your home in pristine condition throughout the selling process to make a strong impression during these impromptu visits.
By maintaining a ready-to-show status, you increase the likelihood of appealing to a wider audience, which can accelerate the sale of your home. Although it might be inconvenient to leave your home and ensure it’s always presentable, these efforts can significantly impact the success of the sale. Trusting your agent’s expertise and being adaptable to your schedule can lead to a smoother and potentially quicker transaction.
Your Terms, Your Way
An agent will always be looking at what they can make off the sale of your home. This means they may stand firm on the price in situations where you might be open to negotiation. Even if you are eager to sell, an agent is always going to be trying to make as much as possible. Will they really have your best interest at heart when so much money is laying on the table?
In addition, you can decide on all of the dates. When the new homeowners can move in, when you have to be out, when you close, etc.. You can set the terms as to what you will fix, what you won’t, and how much you are willing to spend to fix things. When you choose to sell on your own, you call the shots when it comes to the contract, without any influence from an agent who may only have their best interest in mind.
An agent will indeed be motivated by the potential commission they can earn from the sale of your home. This financial incentive can influence their approach to pricing and negotiations. For instance, they might push to hold firm on the asking price to maximize their earnings, even in situations where you, as the seller, might be willing to negotiate to expedite the sale. This raises a valid concern about whether the agent will always prioritize your best interests, especially when significant money is involved.
However, it’s important to remember that a good agent’s success is also tied to their reputation and client satisfaction. Many agents strive to balance their financial interests with providing excellent service to their clients, knowing that happy clients can lead to referrals and repeat business.
When it comes to selling your home, you have significant control over the terms of the sale. You can set the timeline for when new homeowners can move in, establish your move-out date, and determine the closing date. You also have the authority to decide which repairs you are willing to undertake and the budget for those fixes. Selling your home independently (For Sale By Owner or FSBO) allows you to make all these decisions without the influence of an agent, ensuring that every term of the contract aligns with your preferences and financial goals.
Selling on your own also means you won’t have to pay an agent’s commission, which can save you a considerable amount of money. However, it also means taking on all the responsibilities of marketing the property, managing showings, negotiating with buyers, and handling the paperwork. For some, this can be a daunting task, while others may find it empowering to have full control over the process.
In summary, while working with an agent has its benefits, such as their market expertise and negotiation skills, it’s crucial to remain aware of their financial motivations. Selling independently offers you complete control over the sale, but it also requires a significant investment of time and effort. Carefully consider your priorities and capabilities when deciding the best approach to selling your home.
Few Cash Sales Fall Through
As they always say in real estate, “cash is king.” If you are able to find a cash buyer for your home, you will save ample time and money. Closings typically take only a couple of weeks as opposed to a couple of months when you work with a bank. Plus you won’t be waiting for your buyer to secure financing. A cash buyer will pay directly, without any red tape from the banks. These deals rarely fall through and you end up saving a fortune on repairs, staging, and other sales-related expenses.
Selling your home yourself will save you time which equates to money saved. Think about all the extra cash you will save on taxes, utilities, insurance, and the mortgage by selling your home faster! While a cash offer might be lower than what you would list it for, many times you end up with more money in the long run after all of the fees, commissions, and other costs are taken out. Not to mention the stress and headaches of having your home on the market. (imagine people driving by constantly some even peeking in your windows! It happens!)
As the saying goes in real estate, “Cash is king.” If you’re able to find a cash buyer for your home, you can save a significant amount of time and money. The closing process for a cash sale typically takes only a couple of weeks, compared to the months it can take when working with a bank. This expedited timeline is because you won’t be waiting for the buyer to secure financing, which can be a lengthy and uncertain process. A cash buyer pays directly, eliminating the red tape associated with bank loans.
Cash deals are less likely to fall through since they do not depend on loan approvals. Additionally, selling to a cash buyer often means you can bypass many of the costs associated with preparing your home for sale, such as extensive repairs, staging, and other related expenses. This can result in significant savings and a smoother selling experience.
Selling your home yourself, without an agent, can also save you time, which translates into money saved. By handling the sale on your own, you avoid paying agent commissions and have more control over the sale process. This control allows you to act quickly and efficiently, potentially leading to a faster sale. A quicker sale means you can save on ongoing expenses such as taxes, utilities, insurance, and mortgage payments.
Even though a cash offer might be lower than what you would list your home for on the market, you might end up with more money in the long run. When you factor in the savings from avoiding agent commissions, repair costs, and other fees, a lower cash offer can often result in a higher net profit. Additionally, selling your home faster reduces the stress and inconvenience of having your property on the market, which can be a significant advantage.
Imagine the peace of mind you gain from not having potential buyers constantly driving by your home, some even peeking into your windows! This intrusion can be unsettling and stressful. By accepting a cash offer, you can avoid this hassle and enjoy a more streamlined and less stressful selling process.
In summary, while a cash offer may seem lower initially, the overall benefits—including speed, reduced costs, and fewer headaches—can make it a very attractive option. Selling your home yourself empowers you to manage the process on your own terms, potentially resulting in a faster sale and greater financial savings.