Do I Need a Realtor® to Sell My House?
If you’re thinking of selling your home, you may be wondering: do I need a Realtor® to sell my house? Selling your house yourself (also called “for sale by owner”) might seem like a good way to save money on a real estate agent’s commission, and though it might be tempting, trying to go about it yourself can be a lot riskier in the long run (and I’m speaking from experience, because I’ve seen this happen countless times!). Here’s why:
Your House Won’t Get the Same Exposure
Especially lately, I’ve heard a few people say they don’t need a Realtor® to sell their house because the market is already so competitive, they can easily sell it themselves. And while the market is extremely competitive right now, that doesn’t necessarily mean it will be just as easy to sell your home without a professional’s help. Realtor®s list homes on thousands of websites and networks to market your home to potential buyers, and when you go for sale by owner, you don’t have access to the same network. Most for sale by owners list their home on things like Zillow or Craigslist - but most buyers are working with a Realtor® to find them a home, and unless they’re not finding anything they like, it’s unlikely that they’ll ever come across your home.
Many Sellers Won’t Know if a Buyer is Qualified
If sellers do end up getting an offer on their for sale by owner home, it’s likely that the buyer may not be represented by a Realtor®, either. In this case, I’ve seen offers fall through the majority of the time. It’s because a seller probably doesn’t know if a buyer is really qualified to buy their home, or doesn’t know what questions to ask to get a feel for how serious or able the buyer really is. Realtor®s are trained and have experience working with all sorts of buyers, and understand what questions need to be asked (plus what processes the buyers need to go through to make sure they’re qualified to buy) before even looking at homes.
Negotiations Aren’t Easy
A HUGE part of buying or selling a home is negotiating. From the time your house goes up for sell, you need to negotiate with buyers on the offers you get, and even once your home is under contract, negotiation plays a huge part from each side on timelines and contingencies to close the transaction. These things aren’t easy, can be extremely time consuming, and take a lot of experience to fully understand what to look out for and how to move things along smoothly!
If your buyers are represented by an agent, they have someone on their side to protect and negotiate on their behalf. And even if you have experience in sales, selling your home is a different ballgame - plus, it’s a really emotional process! Not only does working with a Realtor® to sell your house take the emotion out of the negotiation aspect, but it also ensures you have someone on your side to look out for your best interest (which puts you in a better position to walk away with top dollar for your home, even with commission included!).
There’s a Lot of Legal Risk and Knowledge That Goes Into It
As anyone who’s ever bought or sold a house knows, there’s a LOT of legal aspects that are involved in the transaction. Between everything from the proper disclosures (like the seller’s disclosures) to the legal contracts involved in the purchase, it’s a lot to stay on top of and make sure everything is done correctly. Realtor®s are trained and have experience making sure these documents are completed and filed correctly, which means a lot less risk on your hands by trying to do it yourself.
Bottom Line
If you think selling your house without a Realtor® is an easy way to save some money, it’s a big task that comes with a lot of risks! Working with a Realtor® to sell your home has a lot of advantages, so just make sure you’ve weighed the pros and cons before you decide to go the for sale by owner route!
For more information, check out my guide for selling your home here!
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