Is Selling Your Home by Yourself Worth It?
Should You List Your Home Yourself
Is selling your home by yourself worth it? When it comes time to sell your home, there are many things to consider. You might even be tempted to go the for sale by owner (FSBO) route and avoid hiring a real estate agent. Selling your home without a real estate agent may seem like a good way to save money upfront—but in reality, it's often more trouble than it's worth.
From increased liability risks to added stress and higher costs down the line, there are many good reasons why working with an experienced real estate professional is always the best choice when selling a home. Here’s why you should hire a real estate agent to help you sell your home.
Do You Save Money If You Sell Your House Yourself?
While it's true that you won't have to pay a real estate agent's commission when selling your home yourself, there are other costs involved in the selling process that you'll still be responsible for—such as marketing, home staging, and closing fees. In most cases, the money you save by not paying an agent's commission will be more than offset by these other expenses. And unless you’re an experienced negotiator, chances are you’ll likely leave money on the table when it comes time to negotiate the final sale price of your home.
Additionally, studies have shown that agents sell homes for more money than FSBO properties. So even after all costs are considered, working with an agent will likely put more money in your pocket.
The bottom line: In most cases, working with a qualified professional will net you more money in the long run—not to mention save you a lot of time, energy, and stress along the way.
Is It Hard to Sell Your House by Yourself?
Yes. It takes a lot of work to sell a property. And selling your home by yourself can cost you a hefty sum in the long run. According to a 2021 National Association of Realtors study, owners who used an agent to sell their home landed a price 26% higher than those who sold on their own.
The Risks of Selling Your Home Without an Agent
Learning how to sell your house without a real estate agent is a tall task. Risks include having few potential buyers (let alone qualified buyers), not knowing how to negotiate properly, making emotional decisions, and not having enough free time to dedicate to finding a buyer. By far, one of the most significant risks of FSBO is not having the experience (or expertise) to navigate all of the legal and regulatory requirements of selling a property.
Plus, many agents shy away from showing FSBO properties to potential buyers, citing the hassles and risks of trying to close the deal without a professional representing the seller—and without a guaranteed commission.
What’s more, if any legal issues arise during the transaction, you could be in for even more headaches (and expenses) if you don’t have a qualified real estate attorney on your side.
You can try to do it alone to save money, but hiring an agent has many advantages. Agents can get broader exposure for your property, help you negotiate a better deal, and dedicate more time to your sale. They also bring industry knowledge and expertise, which few FSBO sellers have, to a complex transaction with many potential financial and legal pitfalls.
One of the biggest risks of selling your home without an agent is that you likely don’t have the same level of experience or knowledge about the process. This can lead to issues such as:
• Not knowing how to price your home correctly
• Not understanding the processes and paperwork involved
• Not having a network of industry professionals to help with the sale
• Not knowing how to market your home
These are just a few potential hurdles sellers may face going the FSBO route. In addition, selling your home without an experienced real estate agent means that you’ll have to take on many additional responsibilities, such as:
- Marketing and advertising your property
- Communicating with potential buyers
- Scheduling viewing appointments
- Being available to show your property at all hours of the day
- Handling all paperwork and negotiations yourself
Avoid the FSBO Headache! List Your Home with a South Florida Real Estate Professional
If any of this sounds like too much work, that’s because it is! The fact is, most people who try to sell their homes without an agent end up hiring one anyway—after months of frustration and little to no progress in selling their homes. So, if you’re on the fence about whether or not hiring an experienced real estate agent is worth it. In almost all cases, working with an experienced agent will net you a higher sales price—and peace of mind—in the long run.
When you’re ready to sell your home, having a Signature International Real Estate Professional by your side can make all the difference. Contact a Signature agent today!