Selling a Home Yourself

You have the best plan; you're going to save so much money, and sell your house yourself. Who needs a Realtor? I mean, everyone knows one, right, so how hard could it be? I have heard it all, and seen it all in my nearly 20 years as a Realtor. I can certainly understand the allure to selling your home yourself. Let me tell you some of the ways that might not be the most financially sound idea.

1. Shoooow me the monnnnnayyyyyy!
You're so stoked, because you are going to save so much money on your sale! No commission to pay to the sellers agent--woo hoo!

Actually, according to upnest.com FSBO (For Sale By Owner) homes sell for thousands less than those sold by agents. On average, homes sold by agents get 13% more than their sold by owner counterparts. That can mean big bucks, especially when you only pay the Realtor 1.5-3% for the transaction.

2. I don't mind the extra work. I watched a YouTube video; I'm pretty sure I've got this.

You watched the YouTube videos, and you've utilized your search engine. You're pretty sure you understand the legal paperwork involved to sell a home. I mean, what can go wrong?

Ack! Stop right there, friend! Did you also search up FSBO horror stories? Yeah, that's a thing. The paperwork involved in the sale of your home is complicated and full of legalese. One mistake can cost you financially, and even lead to a lawsuit! No body has time for that. That's where the safety of having a Realtor comes in. We carry insurance to protect us from such mistakes--I mean, we're all human--and you're never responsible for understanding all those complicated disclosures.

3. I know my market best. I live here, so I know how to price my home.

You love your home, and know that anyone else would too. It's decorated to the nines and look at your view!

Without the right price it is nearly impossible to sell a home. Here's one area you don't want to start off wrong. And think about how terrible it would be if people saw your FSBO listed home and figured you could be willing to sell for less since you're not paying for commission! FSBO listings attract those looking for a good deal. One of the most damaging misconceptions of a for sale by owner is the fact they think they are going to pocket ALL of the commission savings. This is rarely the case. In fact, according to realestateexposure.com, most buyers want to share in the real estate commission savings. 

4. I work from home, so I'll just do an open house while I'm here and show my prospective buyers all the things I love about my home so they can see it how I see it! Perfect, right?

Oh, boy. Let me put this delicately--you make potential buyers feel awkward. It's not you, it's them, because they want to be able to speak freely with their agent and to tell their own Realtor the things that they both love about your home, and the things that may not work for them.

Additionally, a Realtor representing you would know how to showcase your home. Maybe some of the things you live with every day don't even strike you as awesome anymore, but are. Or maybe some of the things you think are awesome, could turn off a potential buyer. For instance, maybe you love the social cul-de-sac you and your neighbors live on. There are bon-fires and block parties all the time! It's so special to see all your kids run around together playing and enjoying their lives. So, you tell that to someone viewing your home, but what you didn't know was that they're introverted and childless, making those details a deal breaker. You couldn't have known, but a more skilled Realtor would know to engage potential buyers to show them things pertinent to them.

5. I'll know when the right offer comes in. I love my home and I want whoever is going to live here next to do so as well.

You've lived in and loved your home for years. Your children have grown here. Maybe you planted all those trees yourself and watched them grow to big magnificent beauties. You've filled it to the brim with things that make you happy, or you've kept your house the perfect minimalistic style you love. Each person's home is a reflection of them. It is what makes them happy, so it's very easy to get your feelings hurt when you're representing yourself in such a personal transaction.

Example: You receive an offer, but they want you to apply a fresh coat paint to the entire living room covering up your hand stenciled fire place surround. You of course get your feelings hurt. You love those hand stenciled cats that you did in the 80's and you can't believe someone wouldn't see how cute they are. Here's where a Realtor would be invaluable. They can discern whether an offer is a viable one, or if it's time to counter with something more reasonable.

6. I'm just going to try and sell my house as fast as I can to get outta here. I need the equity, and I don't have a lot of time so I'm going to take the first offer that comes to me. OR I'm waiting for the offer that comes in that's exactly the price I've listed at. This is the value of my home--period.

Knowing when or when not to accept an offer is a subtle nuanced thing best left to a seasoned pro. Someone who's been in the business for a long time, and comes with the experience needed to sell a home. Has the market changed since your home went on the market? Is a change lurking around the corner and going to cause problems selling your home that you're not aware of? Has the house sat on the market too long? Priced right? These, and many other factors, are all things your Realtor will know when they get the offer and they can advise you more effectively than if you received the offer yourself. Your Realtor will know what you're OK with and what you're not. They'll understand both time constraints, and financial factors. A Realtor representing you has YOUR best interests at heart and will ensure they get you both the best offer and in the shortest amount of time.

I mean... Need I say more?

I do hope that these reasons, and so many more, are reason enough for you to find a Real Estate pro in your area, I know that some of you want to do things your own way, and that's OK, too. However, if you change your mind please do look up a Realtor in your area that can better assist you in selling your home. Not in the Treasure Valley? That's OK, friend. Let me know if you need a referral for a Realtor outside of my area so that you can be safely, and fully represented in this huge transaction.

Happy Selling!