When selling your home, you have two options: use a real estate agent, or sell it by yourself. Selling a home ‘for sale by owner’ (FSBO) may seem appealing, but it can be more difficult than you might realize. However, choosing to sell your home this way does have some distinct advantages. To help you in your decision-making process, Home Avenue has put together a list of the pros and cons of selling your home ‘for sale by owner.’
Pros of Selling Your Home For Sale By Owner
1. You Make More Money & Rebates
When you sell your home ‘for sale by owner,’ you make more money from the sale. Instead of having to spend extra money on real estate fees, you can pocket it. This can save you a substantial amount, depending on the fee structure of the real estate company. You can also benefit from our rebate program. We share part of the commission with you in the form of a rebate after closing.
2. You Can Give Undivided Attention to the Sale
When you hire a real estate agent, you are not their only client. That means your agent is focusing on several homes they are attempting to sell at any given time. When you sell your home for sale by owner, you can devote all your free time and energy to its sale. Ideally, you’ll have plenty of time to market and show your home. But if you work full time, marketing and showing your home in the evenings and on weekends may prove difficult.
3. You Control the Sale
When you sell your home yourself, you control every aspect of the sale. You don’t have to listen to others’ opinions for how you should market the property, its price, or the negotiation process. When you show the home, you can show it from the perspective of a homeowner, offering genuine opinions and advice. You also get to decide how to stage the home and whether you will invest in any upgrades or improvements. However, you still miss out on valuable advice from experienced professionals.
Cons of Selling For Sale by Owner
1. You May Not Make as Much as You Think
Part of the appeal of selling a home ‘for sale by owner’ is the extra money you can potentially make. However, you may not make as much as you think. Without a real estate agent, you are marketing to a wide variety of buyers, few of which are your target audience. Experienced real estate agents know how to market to targeted buyers that are searching for specific properties. Without an experienced agent, you may make even less if you fail to list your home at the correct asking price.
2. Marketing is Hard Work
Marketing your for-sale home takes a great deal of time, effort, and industry knowledge. You can easily list it on online platforms, but you end up competing with thousands of other properties. An agent can market your home via their personal network of real estate agents, which is something a seller simply cannot do on their own. Similarly, real estate agents have been trained to market properties effectively across a variety of channels.
Sell Your Home with Home Avenue
If you’re getting ready to sell your home and considering for sale by owner, Home Avenue can help. We offer professional and experienced residential real estate services to assist for sale by owner sellers. Whether you need marketing help, listing assistance, or a how-to guide, we’re here to offer professional guidance. If you have any questions about our services or would like to schedule a consultation, give us a call. You can reach us at 952-929-7355, or you can message us at info@homeavenue.com.