Photo: © EricVega - iStockPhoto
If you're thinking of placing your home on the market and selling it yourself to save money, you could be setting yourself up for frustration and financial loss. Here are some compelling reasons why DIY is best left to home improvements when it's time to sell your house:
1. Real Estate Professionals Will Guide
You through Prelisting Preparations
If you're thinking of selling your home, you've likely read all sorts of articles that tell you how to stage your home for the real estate market, which presale investments will reward you with the highest returns, and even what color to paint your front door.
Before you throw away your money on improving curb appeal, consult with a professional real estate agent who knows your local market. They'll go through your home room by room, inside and out to tell you how (and why) to prepare your property for listing. Your agent isn't trying to sell articles or page views on a home improvement website; they're trying to sell your home, and they know what improvements and staging are really necessary and what's fluff.
2. Professional Listing Agents Will Price Your House Correctly
One of the most important real estate listing strategies is pricing your home according to an accurate comparative market analysis or a CMA. Professional listing agents know which recently sold homes to include in your CMA and which ones to exclude. They have access to the freshest data and the insight to select the variables most relevant to your property.
When you incorrectly price your home, especially as an FSBO (For Sale By Owner) listing, you raise red flags. Too low, and buyers' agents will suspect something's wrong with the property. Too high, and they'll advise their clients that the sellers are letting emotions guide their decisions, signaling a difficult negotiation process and the high likelihood that the sellers will reject reasonable offers.
The longer your house sits on the market, the less desirable it is to potential buyers. A properly priced home will get potential clients—the right ones—through your front door.
3. Real Estate Agents Can Get More Qualified Customers to View Your Property
Getting foot traffic—that's what's important in selling your home. When you have a higher quantity of prequalified buyers showing up at your open house and buyers' agents showing their clients your property, you'll have a higher chance of entertaining competitive bids.
4. Professional Listing Agents Will Help You Choose the Best Offer
When those offers do come in, do you know which one deserves top ranking? Are you skilled in working with agents to motivate buyers to make a competitive deal? Some offers look brilliant at face value when the true "contender" might not measure up to the untrained eye. When you contract with a professional listing agent, you've got experience on your side.
5. Real Estate Agents Help You Face Closing Challenges
You've accepted an offer and are in the inspection process. Your buyer has come to you with requests for repairs. When do you push back, and when do you comply? Are you able to set aside your personal attachments to your home to keep that client's contract in play? Your real estate professional will work with their counterpart to make sure the deal gets done to everyone's satisfaction and without robbing you of your potential profits at closing time.
6. Experts Will Sell Your House for the Highest Price
The 2016 Profile of Home Buyers and Sellers, a study done by the National Association of Realtors, found that sellers who used a real estate agent sold their homes on average at $60,000 higher than owners who didn't have the help of a professional agent. That's a lot of money, especially when you consider the effort and resources a listing agent saves homeowners when they represent your listing.
