Drawbacks of DIY Real Estate
Selling your home by yourself can put you at risk. As your own seller, you also have to show your own home at all hours of the day (or night). Letting just anyone into your home without information about them can put yourself and your family at risk.
In addition, real estate agents have genereally prequalified their clients and show them homes within their budget. Hence, the buyers looking at your home are already qualified to purchase your home. They are a much more solid home buying prospect than most shoppers viewing your home ad in the newspaper or online.
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Housing Bottom Line
Can a Realtor Get More Money For My House?
Statistically, yes! Individuals who use a Realtor to sell their house will get an average of 16% more for their home than if they sell their home by themselves.
Why Not For Sale By Owner?
Realtors get to know their clients before taking them out to your home. They also have the opportunity to take classes on personal safety to prevent any unfortunate or threatening incidents, which many opt to do.
Being a For Sale By Owner (FSBO) means that you:
- Pay for your own advertising
- Have no multiple listing benefit
- Have no access for your listing on national sites
- You are the only one working at selling the house
- Do not know if buyers are qualified
- Have to be available to show the house
- Must write your own contract (which is a legal, binding document)
- Do the paperwork, etc.
Drawbacks to For Sale By Owners is that shoppers of FSBO’s are looking for a bargain, so they offer less. They often feel that they should benefit from the lack of commission, but you, as the seller, often get less money in the end.