There are a number of so-called “commission-free” services out there that promise that you can sell your home without the help of a real estate professional. With the potential to save thousands of dollars, many Jacksonville home sellers buy into their marketing, but the reality is that without the proper research beforehand, many sellers don’t know what they are in for when it comes to selling their home privately.
Pricing it correctly
One of the biggest mistakes made by home sellers is that they overprice their home. When you work with a real estate professional, you get up-to-date information on the most recent sales and homes for sale in your area. From this information you can make an educated decision regarding fair pricing for your home. When you sell on your own, you lose out on this valuable information.
Your belief that your home will sell itself is an admirable one. Unfortunately, if you can’t get people in the door, the home won’t sell. Many of these services enlist the use of signs and marketing on their own websites as the only marketing you’ll get for your home. Listing with an experienced real estate professional means that your home will be marketed with wide scope, which can include:
· Real estate agent’s website
· Real estate company’s website (these sites usually have a very high number of views)
· Other marketing avenues
The best part about this is that the real estate agent eats these costs – you don’t have to pay to market your home. As well, with a huge number of connections in the real estate world, that you probably don’t have, your agent could reach out to fellow agents about your listing, seeing if they have any interested buyers.
When you list your home with a real estate professional, you don’t pay until your home is sold. If your home is not sold, you don’t pay. When you list with an agency that helps you sell your home on your own, there are a number of up-front fees that you need to pay. If your home doesn’t sell, those fees are out of your pocket and gone forever. You’ll also want to recognize that even if you do sell your home on your own, you will have to pay your buyer’s agent commission, which is usually equal to half of the total amount.
Your time is money
Selling a home can be a huge amount of work. Consider that you will need to be available to buyers whenever they want to view your home, have questions, set up showings, do open houses and negotiate on the offer. When you list with a real estate agent, that work is mostly done for you. Consider how much you make in an hour and how much your time is actually worth overall.
You may not be a skilled negotiator
Part of the job of an experienced real estate professional is that they need to be great at negotiating. If someone throws a low-ball offer in your direction, they know exactly what to do about it. As well, their experience and connections in the business may mean that they know the buyer’s agents and can do the negotiating with them on your behalf quite a bit easier.
What are you signing up for?
When you are signing paperwork to list your house or to counter-offer, do you really know what all the legaleeze really means? Sure, you can enlist your lawyer, at hundreds of dollars an hour, to read over all contracts (if you can even get them available), but again, this is money that is going out of your pocket. A good real estate professional will walk you through the entire process and look out for your best interests.
If you need help selling your home, don’t hesitate to reach out to me.