Downsides of Selling Your Home Yourself

Kishan Thakkar K

Introduction

Selling a home yourself can be a time-consuming and emotionally challenging job. There are high chances that who is selling a house without an agent has nil or minimum experience. You might feel that buyers are invading your privacy. You might be unaware of the process involved related to selling the home, from marketing, advertising, to legal aspects related to it.

You might feel that you’re saving thousands of money by not hiring a real estate agent, but in reality, it costs you much more money and most importantly, your time and energy. Let’s understand the downsides of selling a home yourself. Take careful consideration of all the disadvantages and make the best-informed decision

1. Emotional sales

You’ve spent huge time and effort to find the right home, you’ve created many memories over the many years. Selling your home is an emotional process. You’ll more likely to make mistakes if you’ve not hired an agent, such as overpricing your house, refusing to accept low-offer because you’re offended, or making a deal in hurry. A realtor can follow up without a sense of eagerness or desperation. 

If the home is not selling for a long-time. You’ve to face rejection every time a buyer’s agent tells you that the client is not interested. It can be quite upsetting hearing some of the negative* comments that are made by buyers.

2. It is a full-time job

Let’s put it clearly, the process of selling a home is a job of a real estate agent. You might have to face the potential buyers, after office hours or get the client’s call in between the office meeting. Selling a house is difficult and can take lots of time and energy. one of the biggest disadvantages of selling by yourself is the sacrifice of time.

You will need to know legal and financial aspects, details related to a transaction, marketing aspects of the property, showing the house, negotiation, and more. First-time home sellers tend to attract the buyer that is “non-potential” buyers and those buyers also can soak up your valuable time. Agent removes unqualified buyers.

3. Agent access a large network

You might have listed the projects on housing.com, magicbricks.com, 99acres.com, etc, which agents use. But do you think that will be enough? You might have a large network but not everyone can spread the word that is your house is for sale. Those people will likely have little interest in that. 

Agents are constant in connection with the clients, real estate agencies, and other agents. An agent can bring the pool of investors to your door. These can generate more options for you to negotiate and have the appropriate pricing. The smaller pool of investors implies less demand for your property, which can result in waiting for too long for selling and getting the lower prices. Agents have experience in negotiation with clients.

4. Exposure to legal risks

A lot of paperwork and legalities are involved in the process of selling the house, and it needs to be completed by an expert. The agent knows more about laws and paperwork than you do. When you don’t have an agent, you’re legally responsible for everything you do. If you do the paperwork wrong, you could end up in trouble. 

You could protect yourself from these by hiring an attorney, but then you would be spending a huge amount of money.

Conclusion

Be sure to take a look at our other blogs for top sellers’ myths.

Don’t have time? You’re not alone. That’s where we come in! Our real estate experts help you save time. For any queries and suggestions related to it, contact us at info@roodland.com and discuss all of your options with an experienced real estate professional.

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