The idea of selling your home without the help of a real estate agent may seem a little scary at first, but there are lots of advantages for homeowners who decide to do so. Like what, you ask? Check out these five excellent reasons to consider selling your own home.
You don’t have to pay commission:
When you list your home with a real estate agent, you agree to pay the agent a certain amount of commission to that agent when your home sells. Depending on the value of your home and the agent’s commission rate, this may translate to thousands of dollars. Typically, agents charge between 2.5-3% – which translates to $14,000 or more for the average California home seller. If you list your own home, however, you will get to keep this money in the form of profit.
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Buyers can contact you directly:
Listing agents usually require potential buyers to contact them only with the help of another licensed real estate agent. If you sell your own home, buyers can contact you directly. This allows you to respond to questions quickly, share all the upgrades and benefits of your home and neighborhood, get to know your potential buyer’s wants and needs and prepare for more effective negotiations.
You have more options:
Listing a home with a real estate agent dramatically limits your options. Once you’ve signed the contract, you may not be able to take your home off the market, rent it out or make any other significant changes. If your agent is incompetent or ineffective, you also may not be able to switch until your contract expires. Listing on your own gives you a lot more freedom to make changes along the way.
You won’t have to worry about your listing agent giving you bad or self-serving advice:
Some agents may give you inaccurate or misleading advice in order to serve their own purposes. For example, your agent may encourage you to accept a low offer on a home in order to facilitate a quicker sale even if the offer isn’t reasonable. When you list your own home, you won’t have to worry about others attempting to squander potential profits to rush the sale along.
You can control your home’s marketing:
Once you have signed a contract with a real estate agent, he or she takes over the marketing of your home. The agent will write your home’s description, take pictures and decide where to advertise it. If your home isn’t a priority for the agent, or if the agent hopes to find the buyer on their own, marketing may suffer. When you list the home on your own, however, you will make all of the marketing decisions.
Selling your own home isn’t for everyone. However, if you like the idea of retaining control and enjoying a larger profit, listing your own home may be the best option for you.