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Sell Your Own Home or Hire a Realtor? Pros and Con

HomeMoving TipsSell Your Own Home or Hire a Realtor? Pros and Con
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With people relocating and moving long distance, the real estate market has become free range for people looking to sell and buy homes. If you are on the end of selling your home, your biggest question is should you sell it yourself or hiring a real estate agent?  The differences between selling your home on your own versus hiring a realtor can be huge; thus, making the decision between the two somewhat difficult. Here are some of the advantages to each:

Sell it yourself

  • You avoid realtor's fees that can be upwards around 6%-7%.
  • You are able to negotiate completely on your behalf and do not have to feel any sort of concern that a representative of your interests may be falling short.
  • No one knows what life is like in your home better than you! You may be more convincing to a buyer than any outside realtor could be.
  • Buyers may be more inclined to meet with you than a realtor because that will negate the middle man and may lead to a more accurate depiction of each side's needs.
  • You handle all the work from start to finish open houses, calling lenders, inspections, and moving out of the home.

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Hire a Realtor

  • Realtors do this for a living. They have a great deal of experience selling homes (probably more than you do).
  • You open yourself up to a greater volume of exposure to prospective buyers, since realtors find homes for buyers for a living. This exposure increases your chances of finding a buyer that matches your needs and subsequently speeds up the selling process.
  • A realtor is required to be familiar with up-to-date market values and will work with you to set a competitive asking price.
  • Window shoppers will be deterred from wasting your time; the realtor will be predominantly dealing with serious prospective buyers.
  • Realtors are skilled in reading contracts and will be sensitive to any fine print that you may have dismissed as unimportant.
  • Realtors are familiar with step-by-step processes to selling a house. There is no one better who can speak the language between attorneys, mortgage lenders, appraisers, and inspectors.

While a for-sale-by-owner FSBO) home sale is hard work, it can be done and very rewarding in the end. With some patience, real estate knowledge, and time, you can turn your property into a successful home sale. Hiring a realtor also has its benefits for the average person who doesn’t have time endure the process while trying to find a new home and hire a moving company to move in to their new home. Weigh your options and do not overwhelm yourself with trying to do it all.

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