You may find yourself wondering, “Should I sell my own home?” There are times when a homeowner may choose to place a “For Sale By Owner” (FSBO) sign on their home and perform the entire processes by themselves in order to skip the real estate agent’s commission, but is this the best option?
💵 Real Estate Agent Commissions
Selling your home by yourself could save thousands of dollars that you would have paid a real estate agent in commissions. You could use this money to service student loans, pay off your credit card debt, or spend it on home improvement projects.
Keep in mind that the money you save in real estate agent commissions may not be worth the hassle! Because you have no one to represent your best interest, you will shoulder all the responsibilities for listings, marketing, showings, open houses, and legal details.
🏘️ Home Selling Process
When you decide to sell your own home, you are in the one in control of the entire home selling process. You decide on the timeline, the asking proce, the number of open houses, and how your home is advertised.
❓ Home Selling Experience
The greatest downside of choosing the for sale by owner option is the lack of experience you may have at selling real estate. A professional real estate agent has a deep knowledge of the real estate market and can help you price your home to get the biggest return on your investment.
Your real estate agent will offer you a comprehensive home value report that takes into account current market trends, upgrades made to the property, and other homes sold recently in the area. While you could try to do this yourself, you may find you lack the experience and resources.
⌚ Time & Money
More money and time will be involved in marketing your home should you decide to sell on your own, and you will be responsible for footing the bill of materials that may include a sale sign, open house signs, and listing fliers.Toss in a professional photographer and advertisements in local newspapers and you can see how the costs can add up quickly.
🤔 Should You Sell Your Own Home?
We would love to be able to answer that question for you, but the fact is that it depends on your real estate goals. What we can do is listen to your needs and let you know how we can help when it comes to marketing your home for sale.