REALTOR VS. FSBO: PROS & CONS
It’s only natural that home owners want to make as much money as they can from the sale of their home. Some decide to sell their home without a realtor to save some money, which is understandable. There are pros and cons to selling a home without the assistance of a professional. It’s important to realize the drawbacks as well as the benefits before deciding to go that route, here are some factors to consider.
Pro: Save on commission fees
The usual argument for FSBOs is that you’ll save you money because you won’t have to pay commission fees. However, even if you successfully list, show, and sell your own home, you may still have to pay the buyer’s agent’s commission fees.
Con: You have to do all the work
Without a Realtor, you will need to do your own staging, pricing, marketing, showing, paperwork, etc. These are skills that you probably aren’t very experienced in, and may also underestimate the amount of time and effort involved.
Pro: Control the asking price
When you sell your home yourself, you are in complete control of the sales process. You do not have to listen to anyone’s opinions about how you will price the home, how you negotiate, or any other decisions.
Con: Risk overpricing your home
The danger in overpricing a home is that it will languish on the market and the home then becomes stigmatized; even if you lower the price later. Buyers are likely to offer less when the home has been on the market an extended period of time.
All in all, if you find yourself getting overwhelmed or are unsure if you can handle the paperwork load, we urge you to hire a professional. You can also try to negotiate the commission with them, and you might be able to save a little that way.