For years homeowners have wrestled with this question of “should I sell my home myself or use a Realtor?” There are many factors to consider before you make a decision and we’ll deep dive into a few of the most pertinent here.
1. Do you have the ability to determine your home’s true value on your own?
Did you know that FSBO sold homes sell for, on average, 26% less than agent-assisted sold homes? That means that if you sell your home with an agent, pay them 6% commission to sell your home (which they split with the agent that brings a buyer) you could still come out with ~20% more money from the sale than if you sold the home yourself.
You want to make sure you are pricing the in such a way that is in-line with the market, thus yielding you the best return on your investment.
Additionally, a Realtor can help create competition for your home through open houses and multiple showings via the MLS (more on that later), which could result in higher offers.
2. Do you know how to stage your home and take HD quality photos?
First impressions are everything when it comes to selling your home. Buyer’s want to imagine themselves living in and enjoying the home and great staging really sets the tone for the showing. A Realtor will often have a company they work with consistently that they will schedule to come in and do the staging.
For most prospective buyer’s, the first time they see the home staged is in the photos so it’s crucial to have great, high definition quality pictures. Many agents have a photographer they work with on all of their listings, which can bring down the cost.
3. Can you devote 10+ hours per week to showing the home?
Sellers who make the decision to sell their home on their own may not realize how much time is involved in the process. Buyers move fast and do not want to wait several days to see a home, which could cost you an offer. While they wait days to see your home they will look at other houses and potentially find something they love and put an offer on. If you don’t have the ability to dedicate this kind of time then selling your home will suffer. Agents can usually be available within a couple of hours to show a home if the buyer is nearby and ready.
4. Do you know how to get your home listed on the MLS?
The MLS (Multiple Listing Service) is a database of all the homes for sale in a particular area.
How it works – When you hire a Realtor, they will create the listing on the MLS using a lot of information about the home, such as the size, number of rooms, location, the asking price and more. They will also include contact information on how other agents can schedule to take a prospective buyer to see the home.
Once the listing goes live, any agent with access to that area’s MLS can searc
h using numerous criteria based on their buyer’s needs and budget. All homes listed that meet that criteria will come up and will then be sent to the buyer for review. The prospective buyer will then let the agent know which homes they would like to see in-person (this is why staging and photos are so important).
If you do not have a way to list your home on the MLS then you will have to market the home yourself using tools like social media, yard signs or newspaper ads.
In Closing
The decision to sell your home yourself or use a Realtor is yours to make. However, be aware of the above referenced points and make your decision based on what will get your home sold in the time frame you want with the highest return on your investment.
If you have any questions about selling (or buying) a home, give us a call and speak to one of our agents, free of charge and with zero commitment at (407) 680-4914.
