If you need to sell your home, you have two options for how to do it. You can market your home yourself or you can hire a real estate agent to do it for you. There are pros and cons to both methods, and you should carefully consider all aspects before making your decision.
For Sale by Owner
Selling your home on your own, a process called for sale by owner, has one big advantage: it can save you money. When you hire a Realtor, you have to pay that person a commission once your home is sold. That amounts to thousands of dollars of lost profit on your home. By selling on your own, you keep all the money you make on your home to yourself.
Selling on your own does have some drawbacks, though. It is a lot of work, as you have to do all the marketing and showing of your home independently. That can mean having to leave work or a family outing to show your home. Also, if you don’t have expertise in real estate, you may still have to hire a lawyer or some other professional to help you through the closing process.
Using a Realtor
Hiring a Realtor to sell your home does cost money, which is a big drawback. However, you don’t pay anything until your house is sold. Another disadvantage is that an agent does have other clients, so your home is only getting part of their time. Having a real estate agent does have a number of benefits, though.
Your realtor will do all the work for you, from marketing your home to setting up showings and open houses to taking care of all the closing steps. A realtor also has the experience and expertise to help you price your house right and analyze offers, ensuring the offered price and terms are to your benefit.
There are advantages and drawbacks to both methods of selling your home. The key is to pick the one you are most comfortable with. If you value convenience and the expertise that comes with a realtor, it’s likely your best bet. If your main goal is to avoid paying extra costs, then going it your own may be the right choice.