What are the pitfalls of not using an agent when selling your property?

All homeowners want top price for their property. Having possibly spent thousands in renovations, it’s only natural to seek out the best price.

This often inspires homeowners to sell their property without an agent. If this sounds like something you’re interested in, consider a few challenges that you may face along the way.

  1. Determining the right price.

Striking a balance between overpriced and underpriced means finding the sweet spot. Homeowners frequently misprice the value of their home, either in one direction or the other. Estate agents have accurate information about neighborhoods, price points, and resources to help you price your property so it sells.

  1. Time management.

When you list your home you’re solely responsible for being available for showings anytime potential sellers want to take a peek. An estate agent can do this for you all while ‘selling’ your home’s best features to interested parties. Even when you’re unavailable, you still have an opportunity to sell your property when you hire an estate agent.

  1. Negotiations aren’t easy.

Not only do you have to go back and forth between potential buyers, you also have to deal with their agent, home inspectors, and even appraisers. If you have any sort of life on your own, you likely won’t have the time to deal with all of these individuals at once. This presents serious challenges when it comes time for negotiations.

  1. Legalities

Paperwork for property sales is complex. You may even end up hiring an attorney to assist with your sale, which can increase your costs. Legal forms, disclosure, business contracts and many other issues will arise during your home selling experience which you need to be prepared for.

Regardless if you opt for an estate agent to help you or to do it all yourself, fees associated with attorneys and legal representation can end up costing you greatly. Many homeowners find that hiring an agent actually saves them money and heartache down the line.

Whatever you choose, be prepared for the unexpected if you want the best possible outcome with your home sale.

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