Should I Sell My House By Owner?
Once you’ve decided to sell your home, you’ll probably ask yourself, Should I sell my house by owner or hire a real estate agent? While you may be successful in selling your home through either approach, each has its fair share of pros and cons that should be considered.
At Mark Spain Real Estate, our industry experts will help you make informed decisions on selling your home. Working with one of our experienced listing agents will equip you with the resources needed to experience a successful sale. If you’re debating whether to sell your house independently or with a real estate agent, read below for our breakdown of these two selling approaches.
Should I Sell My House By Owner?
What Does it Mean to Sell a House by Owner?
To sell a house by owner means to sell your home without representation from a real estate agent. When a seller sells their home on their own, their home’s yard sign will read “For Sale By Owner” to inform prospective buyers to contact the owner for inquiries on the listing.
What are the Pros of Selling a House by Owner?
Selling a house by owner is typically the less popular of the two home-selling options. However, there are a few upsides to listing your home independently and tackling the selling process without professional expertise.
The main reason why home sellers opt to sell their home by owner is to save money on real estate commission. The standard commission for a real estate agent is 6% of the home’s sale price. Half of these earnings will typically go to your listing agent, while the other half will go to the buyer’s agent. When it comes down to it, a real estate agent is worth the investment. Selling a house by owner comes with several expenses that can quickly add up. From experimenting with new home decor to paying for advertising, the work that goes into selling a house by owner comes with its fair share of costs that unfortunately don’t always pay off.
Sellers might also take the sell by owner approach if they want full control of the selling process. In this case, it’s unlikely a seller will succeed unless they have some sort of real estate background or expertise. Most sellers who think they want to take the reins on selling their home grossly underestimate the work that goes into preparing a home for listing. When you hire a real estate agent, they will take care of the bulk of the work for you. From staging your home to setting your listing price, your real estate agent will make the selling process much more seamless and stress-free.
What are the Cons of Selling a House by Owner?
When selling a house by owner, the pros don’t outweigh the cons. While saving a little money and not having to worry about outside opinions is nice, having help from an experienced real estate professional yields more valuable benefits. Some of the cons to selling a house by owner include the following:
Slower Sales
In the real estate world, it’s no secret that a real estate agent helps a home sell faster. With quality home-selling strategies and a valuable network of industry professionals, an experienced real estate agent has all the tools to expedite a sale. But with the for sale by owner approach, you risk a much longer home sale. If you have no real estate background, you might have some trial and error with pricing, staging, and marketing your home. In this case, you risk undertaking a much longer home sale, which is inconvenient if you’re ready to move on and start your next chapter.
No Pricing Strategy
Knowing your home’s worth and pricing it accordingly is crucial to a successful sale. However, without an industry expert by your side, you won’t have the necessary tools to do so. Experienced real estate agents like the ones at Mark Spain Real Estate conduct comparative market analyses to set accurate listing prices. With access to valuable market data, our listing consultants provide a snapshot of local conditions allowing you to compare your home’s value to similar listings and price it accurately.
Lack of Marketing Tools
Marketing your listing and reaching your target audience can be difficult without real estate agent representation. A renowned real estate agent will maximize your listing’s exposure by showcasing it on Multiple Listing Services, advertising it through word-of-mouth, hosting open houses, and more. Ultimately, hiring a real estate agent is your best chance at reaching the right buyer at the right time.
Biased Home Staging
Staging your home for its market debut can involve a lot of opinions. However, a real estate agent’s opinion is the one that matters most. While you might love patterned wallpaper or bright-colored furniture, most buyers won’t hold the same sentiment. 
To avoid biased opinions when staging a home, it’s best to trust the professionals. A real estate agent will provide unbiased home staging suggestions that will prioritize buyers’ opinions over all else.
Difficult Negotiation Process
The negotiation process can be tricky without a real estate agent by your side. Because this step involves a lot of communication and details, it can be easy to get lost in the chaos. An experienced real estate agent will create a strong line of communication between all parties involved and ensure no details are missed when closing on a deal. From counter-offers to contract contingencies, you’ll want an expert to ensure everything is squared away before signing the dotted line.
Sell My House with Mark Spain Real Estate
Are you looking for a real estate agent to sell your home? Then look no further than Mark Spain Real Estate. With decades of valuable industry experience, our team of trusted agents will streamline your sale and ensure it is hassle-free! And with our Guaranteed Offer Program, you can receive an offer on your home in only 21 days. Contact our agents today!
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