Are you looking to sell your house fast this year? You may have considered selling your home without a realtor to save on the realtor’s standard 3 percent commission. However, studies show that using a realtor when selling your home can get you more money and save you lots of time and headaches throughout the real estate process.
If you’re thinking about selling a house without a realtor, you’ll want to continue reading to find out the pros and cons of listing your home by yourself and what you can expect if you choose to do so.
What is a FSBO listing?
There’s still some debate about whether or not for-sale-by-owner (FSBO) listings are a good idea since they seem attractive on the surface. However, you’ll still be required to pay the buyer’s agent 2 to 3 percent and you also need to do all the other tasks that a realtor usually takes care of when working with their clients, including:
- Staging the home properly
- Listing the property on the Multiple Listing Service (MLS)
- Handling all outbound marketing and advertising
- Negotiating the terms of the contract on your behalf
- Managing appointments for buyers to tour the home
- Executing legal documents like purchase agreements, occupancy agreements, and other loan documents
- Coordinating closing and helping with other important milestones when selling your home.
It’s clear that realtors are a crucial part of the real estate process and are vital if you want to sell your home today. However, there are some benefits if you decide to sell as a FSBO listing.
Benefits of selling a house without a realtor
Selling a home without a realtor may seem attractive, especially if you are a realtor yourself or know a realtor who suggests selling as a FSBO listing to cut costs. FSBO listings provide the following benefits:
- Saving on the real estate agent’s commission. You’ll save about 3 percent on the purchase price of your home as a FSBO listing, which can be a large amount depending on the home price.
- Having control over the real estate process. Self-starters and go-getters may want to take on the challenge and have total control of the process without using a realtor.
Cons of FSBO listings
As you can see, there are only 2 benefits of FSBO listings. On the flip side, the cons of FSBO homes include:
- You’ll get less money for your home
- There is no one to negotiate offers and counteroffers
- You’ll need to do all the marketing yourself
- You’ll need to read contracts without the help of an expert
Final thoughts
FSBO listings continue to be a hot topic in the real estate community. However, any reputable real estate agent or broker will highly recommend working with an agent for all the reasons we mentioned above.
Are you looking to sell your house fast in Chesapeake? Capable Home Buyers makes the selling process quick and easy by selling to a local professional buyer without having to worry about staging the house for inspections and making repairs. You won’t pay any commissions or fees for the sale of your home and we make the process quick and easy. Visit our website to find out how you can put more cash in your pocket by selling to Capable Home Buyers today.