If you’ve ever thought about selling your home, you’ve probably thought about selling without a real estate agent. It can be done. Probably just not as easily as you might think. That’s why there are so many stories of sellers going to market For Sale By Owner (FSBO), but only getting to closing after hiring a real estate agent.
So, before you head out to the hardware store to buy a for sale sign and info tube, here are a few things to consider:
Who Gets the Discount, the Seller or the Buyer?
You want fair market value for home, at a minimum. The buyer wants “a deal”, and assumes you’ll be willing to go lower on price, since there’s no Realtor® involved. So, who’s the beneficiary of the supposed discount?
Do You Know What Fair Market Value Is in Your Neighborhood?
You could always just list your home for the price Zillow suggests. But then again, even Zillow itself admits that its Zestimates can be pretty inaccurate. Are you willing to risk underpricing your home by 10 or 20 percent (there goes that discount)?
Do You Have the Flexibility to Coordinate Showings at the Buyer’s Convenience?
Most of us have to work for a living. So getting home to let a buyer into your home in the middle of the day can be an inconvenience, to say the least. And that buyer who was just driving by on the way out of town, saw your yard sign and wants to see the house RIGHT NOW? Forget about it.
How Familiar are You with Disclosures, Real Estate Contracts, a HUD-1 & Related Documents?
I’m not very familiar with the necessary steps to change the oil in my car (nor do I have the time). So I let someone with more expertise in that area do it for me. After all, I depend on my car everyday. So, when it comes to selling what may be your most valuable asset, it makes sense, perhaps, to have an experienced professional help you ensure it’s done right.
When it comes to managing our finances, many of us turn to professionals—CPAs, financial planners, etc.—for help. So when it comes time to sell what’s likely your most valuable asset, it makes sense to get professional help. As so many have found out, it’s definitely worth the investment.