When selling your home or property, you’re generally faced with two options: You can either enlist the services of a real estate agent, or skip getting realtor, put a big sign on your lawn and try to sell it by yourself. Well, some people choose to sell their house privately without the assistance of a real estate agent. But trust me, selling your house by yourself may not be simple as you think, and it requires a lot of time and effort into it. The process, however, may not be suitable for every seller or every property.
Below, we’ve provided a list of reasons why selling a property by yourself may cause more harm than you think.
It’s harder to keep emotions out of the sale
Sometimes, selling your house can typically create an emotional process, especially when it’s your first time doing it. There may be times that you may have to deal with rejection when clients don’t take an interest in your property. So, we highly recommend getting a real estate agent who is professionally trained to put a positive spin on any negative feedback.
Time Consuming
As a seller, you will often get a phone call asking whether a potential buyer can come for a tour on a certain day and you have no choice but to do so. When selling your house privately, all the screening, calls, booking and answering of questions all become your responsibility. You need to understand that this is a job so you should commit doing the legal work and provide time as much as possible.
Buyers might feel awkward
It gets uncomfortable for buyers to have the seller present, rather than the seller’s agent when they decide to tour around the house. You should remember that when showing a house or a property, the owner should never be present. Because nothing makes a potential buyer more uncomfortable than having the current owner in the house. What happens is that most buyers will rush through a house without remembering much of what they already saw.
Negotiating can be tricky
Even though you have sales experience, you don’t have the specialized experience negotiating a home sale, unlike real estate agents. They are more likely to win the negotiation. Without your own agent pointing out when you’re being irrational, you’re more liable to make poor decisions when it comes to negotiating with potential buyers.
You can’t see what’s wrong with your home
When you sell your property, you can’t really see the flaws because you see them every day or you just don’t view them as flaws. Real estate agents can walk through your home with you and point out the changes you need to make your property look more attractive to buyers. They can help you determine which feedback from potential buyers you should act on after you put your property on the market.
You are at risk of being sued
You probably know already that there are a lot of legal paper works involved in selling your home and it needs to be completed correctly by an expert. As the seller, you can be held liable for fraud, negligence or breach of contract if it’s not disclosed properly. Unless you have a real-estate attorney, you are putting yourself at the risk of being sued.
Conclusion
Selling your home will most likely be one of the biggest transactions in your life. You can always try to do it alone to save money, but this is not something we would recommend for first-time buyers. Hiring a real estate agent will be much of an advantage to you. They can get broader exposure for your property, help negotiate a better deal, have more time to look into your property and help keep an eye for any potential buyers. However, the decision to sell privately comes down to your comfort level with negotiations and understanding the process itself.