Should I Sell My Home Myself or Use a Realtor?
With the selling season heating up, a lot of people wonder whether or not they should use a real estate agent to list their home or go at it alone. Here are our thoughts on the pros and cons of For Sale By Owner (FSBO).
Pro - Save the Commission Fee
More money in your pocket is always a good thing, but don't think you'll be saving a full 6% on the sale of your home. Unless the individual buying your home doesn't have a buyer agent, you'll still be on the hook for the buyer agent's 3% split.
Con - Agent Bias
Buyer's agents might be hesitant to promote your property, knowing that it's an FSBO. Past experiences with stubborn sellers who priced too high, were unavailable or were too emotionally attached to their property soured any future relationships. Buyer agents may (unfairly) guide potential buyers away from your home, thinking they will have to do more work to keep the sale moving forward.
Con - The Value of Your Time
Are you fully aware of the time commitment needed to sell your home for top dollar? Your task list includes, but certainly isn't limited to:
Conduct a Comparative Market Analysis (CMA) to price your home correctly.
Take photos or hire a photographer to showcase your home
List your home on the MLS ($$).
Answer phone call and email inquiries, qualifying potential buyers
Schedule showings with interested parties.
Receive offers, send counter-offers, and accept.
Hire a real estate attorney.
Get your home appraised.
Get your home inspected.
Negotiate any concessions from the inspection.
Coordinate with the buyer's title company.
Don't have the time or experience to sell your home yourself?
Pro - Meeting Each Buyer
Selling your own home means you'll have to qualify each buyer; this allows vetting each buyer personally. For owners who are passionate about their home, meeting the future homeowners provides a level of comfort.
Con - Bargain Hunters
FSBO's often attract bargain-hunting buyers who think that your listing price doesn't include the commission fee owed to buyer and seller agents. They might walk if you don't come down on your price, wasting your valuable time. Don't forget if they walk in with agent representation; you will be on the hook for their agent's commission fee.
Listing your home with a Vermont Real Estate Company agent means that you a have a full-time representative working around the clock to get the most out of the market. We sell your home strategically. Leveraging our networks, marketing plans, and expertise to make sure the sale of your home is smooth and seamless.
Ready to list your home with a Vermont Real Estate Company agent? Fill out the form below or give us a call! 802-540-8300.