The Real Estate Blog

Should you try to sell your house yourself?

November 10th, 2010 9:29 PM by Wendy Thomas

When sellers start to talk about selling their houses, a lot of them think about selling it themselves first.  Should you sell your house yourself?  Or should you call a Realtor to help you?  There are a lot of things to consider when making your decision...

The biggest reason that sellers will consider selling on their own-- they haven't been in the house long enough to build up equity, or they financed too much compared to what the house is worth.  If this is the case, the seller knows that if they pay a Realtor commission, they'll most likely need to come up with cash at closing.

Other sellers may not be in a hurry, and may want to see what they can do on their own prior to calling an agent. 

Some things to consider when selling your house yourself:

  • Any advertising fees must come out of your pocket, and be completed by you, the seller. Keep in mind the many medias of advertising-- newspaper, heavy internet marketing, brochures, and are you going to offer to co-broke with a buyer's agent? If so, marketing to real estate offices is a must!
  • You must be available to receive calls and show the house, usually at the buyer's convenience.
  • Be VERY careful with who you let in your house.  Unless you require a pre-approval from a lender prior to letting them in, you don't know if that buyer is qualified to buy, or if they are even someone that you want in to allow in your house!

Those are just a few. 

Why should you use an agent? Consider reading this take on why you should use a Realtor: http://www.buy-and-sell-house-fast.com/sell-house/sell-your-house-yourself.shtml  It's a great article with many good points.

Some reasons to hire a Realtor include:

  • Realtors understand the current market.  We have tools and resources to help us price your house appropriately, and in this volatile market, that's a biggie! When a house isn't priced right, and it sells for more than it's worth, you can bet that the appraiser will correct that by appraising the house where it should have been priced.  So our ability to price your house accurately from the beginning will save you time AND money from the start!
  • Realtors lower your risk, and work at our own risk.  We ensure that agents showing your property are pre-qualified, and agents accompany buyers throughout your house during showings.  As far as our risk, we market your house, spending our money, knowing that should the house not sell, we won't get that money back. So we must believe in the product we're selling, and work hard to get it sold, or we're wasting time and money!!  
  • We have the capability of exposing your listing to as many buyers as we possibly can-- locally, nationally, internationally-- in fact, we can advertise your property in ways that would cost you MORE than the amount of a commission, if you paid for it yourself.

There are many reasons to use a Realtor to sell your house.  There are also many reasons that selling your house on your own may be right for you.  If you wish to talk about the right option for you, call or email me! I'll be happy to help you determine what's best for you!

Posted in:General
Posted by Wendy Thomas on November 10th, 2010 9:29 PM

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