Be smart. When real estate markets are on the upswing, it’s common for sellers to get
creative and look for ways to turn the highest profit.
Cash-saving measures, like competitive pricing and high-ROI renovations, are great
tools for getting the most out of your home. Others, like selling without an agent, can
turn into both costly and painful mistakes.
If you’re considering listing and selling your home without a licensed real estate
professional, here are four modern hazards you should consider before you decide to
go at it alone.
1 Passed Up Profits
Even in some of today’s most hum-drum housing markets, neighborhoods are seeing
big change. Inventory, interest rates, and a barrage of other factors are constantly
altering the answer to the big question, “What’s the right price for my home?”
Fact:
Homes sold using a licensed agent sell for 20% more than those sold
by a homeowner.
To avoid making a major pricing blunder and missing out on potential profits, consult a
local real estate professional who can provide you with a customized competitive market
analysis (CMA) for your property.
Your agent has access to the most up to date public records data and can factor in
important pricing factors like:
• New amenities or coming developments that may affect value
• Competing properties that haven’t shown up publicly yet
• What it really takes to close a deal in your neighborhood
Not to mention agents are experts when it comes to selling and the highest possible
price. They know how to market your home to maximize profits, from professional staging
and listing photos to marketing and access to other agents in the area via the MLS, a
network of property listings provided by real estate brokers.
2 Losing the Deal, Plain and Simple
Response time is critical when it comes to accepting an offer and closing a deal.
Today’s buyers and agents expect a prompt response when they make an offer.
If you’re trying to evaluate and respond to offers around a full-time job or everyday
life, you run the risk of missing out on the market’s most motivated buyers. Motivated
buyers in any market will not waste time waiting around for a deal to come together.
In addition to being dedicated to providing timely responses, real estate agents are
lifesavers when it comes to organizing offers in a way that is easy to understand and
evaluate. Not all heroes wear capes.
3 The Self-Selling Time-Suck
Time is money.
While you may think that you’ll save on commission fees by selling solo, the truth is,
going at it alone can cost you a lot of time. That time means more dollars spent and
unnecessary time sacrificed.
Curious just what tasks can soak up valuable time during the home-selling process for
owners who sell without an agent? The National Association of Realtors did the research.
• Evaluating, understanding and completing paperwork
• Negotiating contingencies and the right price
• Prepping the home for sale
• Working with the buyer’s lenders
• Properly marketing the home and attracting motivated buyers
Your local real estate agent understands how to navigate these hurdles and save you
valuable time, peace of mind, and money.
4 Accidental Buyer Brush-Offs
In most areas, not listing with an agent means you’re opting out of today’s biggest real
estate tool for selling: the Internet. In fact, 93% of home-buyers used the Internet during
their home search in 2018.
Without a listing agent, your property won’t be listed in the local MLS, which is not
only where other agents are searching, but what feeds website portals where buyers
are searching. Additionally, real estate professionals are experts when it comes to
staging, curb appeal, and presentation - all of which can increase the selling price of
your home substantially.
Again, over 90% of house hunters are hunting online. Don’t inadvertently brush-off your
largest pool of motivated buyers because you thought you could save some money
(which you’re not likely to save anyway).
The National Association of Realtors Buyer & Seller Generational Trends, 2018/ 2019.
Market Leader 2019