On paper, there are savings to be had if you decide to sell your home yourself. It’s not common ground that owners choose to do so, but the few that do, feel that the get ahead. The only thing you must understand is what you want for a home and what someone is willing to pay are two very different things and if you get what you want and walk away, who’s to say that there wasn’t anymore out there.
When people think about selling real estate, most of the time it comes down to how much it will cost. Agents fees and advertising are the two main expenditures, and this is what for sale by owner (FSBO) think they will save on. Though we see it day in, day out, an owner selling themselves and there neighbour selling at the same time and walking away with a lot more money. So, while the FSBO saved circa ten to fifteen thousand dollars, the neighbour walks away tens of thousands ahead, even after paying all the costs.
Things you must take note of if you’re selling yourself. You will deal with a considerable less amount of people as many buyers don’t feel comfortable dealing directly with an owner. You have a greater chance of letting your emotions get in the way of a negotiation and may find yourself taking a low offer or letting go of a strong offer due to your emotional attachment to the sale. You cannot list your property on the real estate websites as a consumer, you will have to use a FSBO website, who charge a little more to advertise your property. You will have to organise, photos, boards, brochures and do all your inspections, this can get expensive when you have to source it as a one-off procedure. You will have to cover your backside legally throughout the whole process and make sure you know property law, to keep yourself out of serious strife.
These are just a few things to consider when selling yourself. It’s not an easy process and you stand to lose a lot of money if you fumble the negotiation of your biggest asset. Your time would be better spent interviewing real estate agents and searching for the right agent that you feel will get you a stellar result. If you don’t blanket us all crooks, then you’ll find that in every area, there’s always at least one agent who’s out there working hard and doing the best they can for their owners.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.