Are you considering selling your home on your own so you can save money on the high agent commissions? Do you know how much it costs to sell a home? Did you know that only 8% of For Sale By Owner homes are successful? Today we’re going to discuss the pros and cons of Selling Your Home Without an Agent.
Hi, I’m Eren Millam with Premiere Property Group … wait, what? A Realtor is telling me there are pros to selling my home on my own? Yes, that’s right. Now why would I do that? Well, I help people sell homes. Duh! If you’re one of the lucky 8% that don’t need help, more power to you!
Pros of Selling Without an Agent
First, we’ll hit on the pros.
#1 You’ll save a ton of money on commissions
#2 You’ll learn a lot about the process
#3 You’ll get to let your creative juices flowing
#4 You’ll control the process
#5 You’ll speak directly with the buyer (sometimes)
#6 You’ll have satisfaction of a job well done
#7 You’ll be able to rub in in Realtor’s faces forever
#8 You won’t have to deal with agents (at least not how you expected)
#9 You’re not locked into a listing agreement
#10 You’ll get exactly what you want
You determine what you want and you can hold out until you get it. Man, there’s a lot of pros to selling your home on your own. I think I might want to give that a try! Now for the cons.
Cons of Selling Without an Agent
#1 You’ll sell for less than an agent assisted sale. Typically, FSBOs sells for 15% less overall.
#2 You’re responsible for all the paperwork, including legal liability for any mistakes.
#3 You have to negotiate, potentially with someone who is trained to negotiate.
#4 You have to do all the marketing.
#5 You have to handle all the calls from unqualified buyers.
#6 You have to handle all the calls from pesky agents who may or may not have buyers.
#7 You may not be one of the lucky 8% who successfully sell their home on their own!
Well, there’s not that many cons, but they’re kind of big ones! 88% of FSBO homes end up listing with an agent within 3 months, the rest give up and decide not to move. If you NEED to sell this may become a bigger factor for you.
This list is not meant to dissuade you from selling your home. You can do it, no question about it. The process is not complicated. That’s why many people decide to sell on their own. If you decide to go that route, make sure you’re informed by watching my next video, total costs of selling your home. Again, my name is Eren Millam with Premiere Property Group. Now, go out and make it an extraordinary day!