Selling a house without a real estate agent – this is an idea that many property owners consider doing. It’s an appealing option because it cuts down the expense that’s associated with house selling. This means that homeowners get to earn more from the sale.
Aside from the financial reasons, there is also the presence of online property portals which make the For Sale By Owner (FSBO) approach less challenging. This furthers homeowners’ belief that they can easily sell their house on their own.
The thing is:
While online property portals are very helpful advertising-wise, they do not uncomplicate the house selling process. They are very useful in reaching potential buyers but that’s just one of the many tasks that should be done when putting a house on the market.
Simply put, even if you use property portals, selling your home is still going to be a laborious task – one that requires a lot of time and effort.
Also, not hiring a real estate agent opens you up to certain risks or dangers. Read on to find out what the possible repercussions are of not letting professionals sell your home.
Price the House Wrong
One of the factors in successfully selling a house is to price it correctly at the onset. The list price has an impact on the appeal of your property and its chance of getting sold fast.
Overpricing can drive away buyers and lead to longer days on market. Meanwhile, pricing it too low can give people the impression that there’s something wrong with it.
Some home sellers think that pricing is just about picking an amount they want, but it’s not that simple. There is a process in determining the right or best selling price for your house. It entails some research time and knowledge on the market and industry.
When you hire an agent, she can provide you with a comparative market analysis (CMA) – a comprehensive report on the recent sales in your area. On top of this, she can give you insights such as current market trends which can help you set the right price.
Unqualified Home Buyers
House selling is a time-consuming endeavour. One aspect that takes up a lot of time is dealing with potential buyers – communicating with them and showing them the house.
You can cut down the time you spend on this part if you are able to identify who the serious buyers are. You see, not all people sending inquiries are interested in buying your house.
Unfortunately, properly screening potential buyers can only be done if you have home selling experience and training. FSBO sellers rarely satisfy these requirements but seasoned real estate agents do.
These professionals know what questions to ask to assess if the person is serious about buying the house or just looking around. They can even find out where the person is in his buying journey – undecided which property to pick, close to deciding or about to make an offer.
More importantly, they have the tools needed to conduct a background check on the potential buyer. This is essential because it protects sellers like you from unscrupulous individuals and bogus deals.
These are just some of the dangers you have to confront when you go the FSBO route. Clearly, these are things you cannot just shrug off as they have an immense impact on you and the outcome of this endeavour. Unless you are willing to accept these repercussions, it is best that you hire a reputable agent.
In our next blog, we talk about the other risks associated with selling your house without an agent.
Planning to sell your house in Ireland? The best way to do it is with the help of a trusted real estate agent! Call us today on 01 495 9020 to learn about our services!