The prospect of not having to pay an agent's commission when selling a home can be very attractive to some people.
Have you ever noticed, though, how often those "For Sale By Owner" signs get replaced by one representing a local agent? This is because, almost always, there are far more minuses than pluses to this idea. Unfortunately some sellers learn this lesson the really hard way...
It isn't very long before the shine starts to wear off any notions of "DIY" home selling.
Only a professional agent can be truly on the pulse of local market conditions and have the right level of experience and knowledge to price your home so that it achieves the goal of attracting maximum interest at the same time as optimizing the potential for your very best return on the sale.
And don't think that referring to the various generic home price estimating websites is a great barometer of accurate pricing either. They are notoriously wide of the actual market value, both above and below...
Great agents work closely with a hard earned network of people who can positively influence a home sale, not least the best buyer's agents in the area. Unless you sell real estate, and are successful at doing it, you simply won't have access to these vital contacts.
Market exposure for DIY sellers is very, very limited. The goal in marketing a property is to expose the property to all the prospective buyers who are looking in the specific geographic area of the home in question and their agent. Sellers attempting to sell on their own are extremely limited in their capacity to accomplish this. 100% market exposure equals top market price. Limited market exposure ultimately equals less money in the seller's pocket.
Even if a DIY seller somehow gets an offer, how is he/she going to know if it's the best possible one? Maybe the offer has come in simply because the asking price is way below the true market value. Top producing agents will be able to negotiate to get the very best outcome.
And even when an offer is accepted, there's still a lot of closing admin to do. If you haven't been trained in this, where do you even start? The worst case scenario is that something could go very wrong in this process, due to inexperience, that might end up costing you a lot of money at some stage.
If you've been considering selling your home by yourself, we hope that these important points help to convince you that an agent's commission actually pays for itself, in terms of maximizing potential returns and peace of mind. Please don't hesitate to reach out to us for a more in-depth discussion.