Contrary to popular belief, hiring an agent might not be the best way to sell your home. In fact, for lots of sellers, bypassing an agent can be hugely beneficial! Let’s take a look at a five reasons why selling your own home can be a really wise choice.
You’re in Control:
You don’t have to worry about somebody telling you what your list price should be or whether or not you need to have open houses. When you opt to sell your own home, you’re in charge. With a service like HomeBay, you get guidance and answers to your questions, but we’ll never force your hand. After all, it’s your home sale! If you opt to work with an agent or brokerage, you’ll have a lot less flexibility.
You Get More Money:
You might assume that an agent will help you get more money on your home sale, since a higher sale price means a higher commission for them. However, research shows this is not the case. In fact, a study conducted by Stanford University shows that homeowners who opt to sell themselves typically get 7% more money at closing than those who work with an agent. Why?
Two reasons. First, agents have incentive to sell quickly so they can move on to other clients. And second, a higher sale price can be substantial money to you, but the 2.5-3% an agent collects at closing will only increase minimally. Check out this video for more information. Additionally, if you use a flat-fee service like HomeBay, you pay a simple one-time fee that doesn’t fluctuate with the sale price of your home. The bottom line is, no commission at close equals big savings for you. In fact, our average seller saves $14,000 or more!
Your Best Interests Drive the Sale:
Agents are in business to make a living by helping buyers and sellers complete real estate transactions. But, in order to make a good living, agents have to meet monthly and yearly quotas, move homes quickly and consistently generate new business. That’s a tough job – and it can be very time consuming. That’s why agents can sometimes get caught up in the business side of things, letting client needs fall to the wayside.
Don’t misunderstand this part; we’re not saying agents are bad people. If we were, our co-founder (who also happens to be a real estate broker) would be very offended. We’re also not saying all agents have conflicting interests or that they intentionally neglect to prioritize their client’s needs. What we’re saying is that all people are in the business of providing for themselves, and that’s their top priority.
In most careers, that doesn’t present a conflict. But in real estate, it can. If an agent ends up focused on their well being rather than their client’s best interests, they may be slow to respond because they took on too many new clients, pushy about accepting a low offer if they need a sale to close before a certain date or distracted by a new client with a more lucrative listing. Whatever the case, none of this will happen if you sell your own home because the person who is always responsible for looking out for your best interests (YOU!) will be in charge.
You Know All the Details About Your Home:
You worked hard to pay for and maintain your home while you owned it and you are intimately familiar with all the sweat equity you put into it. The great thing about that is, if you choose to manage your own showings, you can point things out to buyers that an agent wouldn’t even know to show. As Shishir – one of our recent sellers, said, ” [A] big benefit was being able to show my own property. Owners know their property better than anyone. By showing my own home, I was able to show potential buyers all the upgrades and details that went into the house. A realtor couldn’t have done it any better.”
Want to read Shishir’s full case study? Check out our seller success stories!
Technology Makes it Easy:
There used to be a number of reasons you needed a real estate agent to sell your home. The biggest of which was you needed a go-between to get access to your local multiple listing service. These days, things have changed. Not only can sellers list their own home in just minutes, they can also use services like HomeBay to automatically promote it on popular consumer real estate sites like Trulia and Zillow. Doing so allows you to get tons of exposure for a very low cost and makes it easy to attract qualified buyers who are actively looking for properties in your area. HomeBay’s system also offers an easy way to schedule showings, a simple platform that buyers can use to submit offers, a built-in offer review tool and much more!
There are way more than three reasons that it makes good sense to sell your own home in 2016 – but the massive money savings are a huge incentive! See what it costs and learn more about affordable home seller services.
Learn more about how to sell smarter:
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