When you’ve decided it’s time to sell your home, you want to get the best price possible and get the deal done quickly. You may be tempted to take on the job yourself, also known as “for sale by owner” (FSBO). After all, this seems like the best way to save thousands of dollars by not paying a real estate agent’s commission.
Here are the reasons why this may not be the best approach, and you may want to consider getting a real estate agent.
1. Realtors May Not Show FSBO Homes
Unfortunately, many real estate agents will avoid showing homes that are listed as FSBO. There are quite a few reasons for this. First, buyers agents should get paid for their efforts, and FSBO deals may not provide this incentive. Another reason that these homes don’t get much attention is that people who sell their own homes are often viewed as difficult and unreasonable, whether that applies to your situation or not.
2. Selling a Home is a Full-Time Job
Selling a home is an emotional and challenging endeavor. Having a real estate agent that is emotionally removed from the situation yet 100% available is vital. When someone wants to view your home, will you be able to take off of work to be there? Can you leave a meeting to answer or return calls from potential buyers? Do you have the experience necessary to answer all of the questions that might come your way?
3. Agents Access Extensive Networks
When you hire a real estate agent, they will give your home significant exposure by getting it listed on the multiple listing service (MLS), Zillow, and Redfin. You can also do this through FSBO, but you may not have relationships with other agents, agencies, or clients that can bring in even more potential buyers.
4. Vetting Qualified vs. Unqualified Buyers
Showing your home to everyone that calls or emails can be a tremendous hassle, particularly if a large percentage of those people have no ability or desire to buy. A real estate agent can determine whether someone who wants to look at your home is a qualified buyer or just a curious tire-kicker.
5. Not Recognizing Your Home’s Flaws
If you’re selling your own home, there is a good chance that you are overlooking some of its glaring shortcomings. In fact, you might get offended if a potential buyer points them out. A seller’s agent can tactfully let you know about some of these items that might impact your sale so that you can address them or adjust your price accordingly.
6. Experience With Price Negotiation
It takes experience and skill to effectively negotiate a home sale. If you’ve never done this before, there’s a good chance you won’t get the best price for your home. Experienced agents have negotiated hundreds of these deals, know the market, and don’t bring emotion into the equation. They are less likely to make poor decisions and more likely to help you get the best deal.
7. Exposure to Legal Risks
When you sell your home, you enter into a legal contract and make some hefty promises and declarations. As the seller, you could be held liable for negligence, fraud, or breach of contract if the items on the seller’s disclosure aren’t thorough. A real estate agent can help you avoid these potential legal pitfalls.
Ready to Sell Your Home in South Carolina?
If you are thinking about selling your home, the Lafayette Team can help. We have over 17 years of combined real estate experience helping clients market their homes effectively in a changing market. Our team has extensive knowledge of the Lexington area, including Columbia, Irmo, Blythewood, Elgin, and Chapin, and we are incredibly accessible to our clients. Contact us today to start a conversation about our services.