Pros and Cons of Selling Your Own Home

November 29, 2016

Pros and Cons of Selling Your Own Home

It’s pretty common to see the “For Sale By Owner” signs in most any neighborhood. And, while it may not appear too hard to put a sign out and prepare your home for showing to potential buyers, there’s a lot more to the sales process than is obvious. Carefully analyze the pros and cons of selling your own home before making a final decision:

Pros:

  • No commission fee: Perhaps, the most obvious “pro” is that you won’t have to pay a real estate agent a commission fee. At a market standard 6 percent, the commission fee on a home selling for $150,000 is $9,000. Saving that money is definitely a benefit.
  • Stay in control: The real estate process has a tendency to get complicated and harried. If you are selling your own home, you get to keep control over several variables: price, showing times, way your home is marketed, etc.

Cons:

  • Less market knowledge: Because you’re not an expert, you don’t have the background and tools to know how the market is priced or other pertinent details that could help the sale of your home. Many homeowners under price their homes or take too low of offers, without guidance from an agent.
  • Less marketing potential: When you list with an agent, your home is included in the MLS listings, only available to realtors. This is a great resource, as potential buyers look through available properties in the area.
  • Legal process headaches: There are many ins and outs to the legal side of selling your home. Without a real estate agent, you’re forced to figure all of this out yourself.

ProX provides a downloadable guide that may help you determine if you’re up to the task. Call ProX today to talk to an agent!