The Drawbacks Of Selling A House Without Any Professional Help
These days, you see more and more advertising related to selling a house without a real estate expert. You can list a property online and handle the entire sale without contacting a realtor. The supposed advantage of this is that you pocket more money from the sale by foregoing the commission and the agent’s fee.
It sounds pretty impressive, but things aren’t as simple as that. Selling a house with no professional help could be a disadvantage, and here’s why:
An inexperienced negotiator
How many houses have you sold? The answer is close to zero, which isn’t very good. Effectively, you have no experience selling a home and negotiating with buyers. While you might avoid the agent fees, you could end up with a far worse price than if you used a real estate expert.
In addition, you still have to cover the other costs of selling a home. So, it’s not like you don’t have to deal with any fees. By using a realtor, you could negotiate a top-class deal that gets you the best value possible. When you add things up, it might land you with more money than if you sold it yourself.
Better marketing outcomes
Selling on your own means makes it more difficult to sell your property. True, there are websites where you can list your property and be found in searches. However, this is pretty much the only time you’ll be seen.
If you worked with some real estate brokers, they could market the property for you. They’ll spread the word and ensure that everyone in the local area knows your property is up for sale. You’re likely to see more interested parties than if you went at it alone.
The more buyer’s that are interested in your home, the more in-demand it becomes. This puts all the power in your hands, so you can stay firm on your asking price with the knowledge that if one buyer doesn’t buy it, there are dozens of prospects in the wings.
No access to buyers
On a similar note, real estate agencies have access to loads of buyers keen to purchase a home. Even without marketing your property, they can set you up with some viewings. All they have to do is check your house, then find a buyer that’s looking for something similar.
For instance, your home could fit the description of what a recent client has been looking for. This buyer has been searching for months, but none of the houses ticked all their boxes. Now, yours has come along and ticked everything. Right away, the estate agent can get on the phone and set things in motion. When you sell alone, you lose this access, missing out on potential sales opportunities.
Ultimately, you can boil down the drawbacks into two main issues. Firstly, selling on your own means you might have to sell your property for a lower price. Secondly, it can increase the time it takes to sell your home. With professional help, you’re likely to see a quicker sale at a higher price.
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Ken Boyd
Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies
(email) ken@stltest.net
(website and blog) https://www.accountingaccidentally.com/