The Drawbacks of Selling a Home Yourself
(A continuation of How
to Sell a House)
By Steve Gillman - 2006
We continue here with our list of problems you might face
when selling a home yourself without the help of a real estate
agent. Pay special attention to the last reason if you are thinking
of selling on your own.
You May Not Know The Laws
What about written disclosures, and does the law specify who
pays the real estate transfer tax? When you sell it yourself
you don't get to ignore the laws. Again, you can learn these
things, but don't ignore the value of your time.
Are You A Good Salesperson?
Can you develop rapport and properly answer objections about
your home? Could your defensiveness scare off a buyer who criticizes
your home? Think back on your own purchases, and you'll realize
that a good salesperson makes a difference.
Will you be able to help the buyer properly fill out an offer
to purchase? An agent would. If the buyer puts special clauses
in the offer, will you understand what they mean? Do you have
the other closing documents ready?
Are You A Good Negotiator?
When did you last learn a new negotiating technique? Do you
know how to counter-offer without scaring off a buyer? A good
salesperson is trained in these skills, and does the negotiating
Do You Really Want The Hassle?
You can learn what you need to know, and some of that will
be covered in the coming chapters. But do you really want to
do everything it takes to sell your home on your own? It's a
lot of work for what may be the same outcome as with an agent.
You May Not Save A Penny
Buying documents, and possibly paying a lawyer to review offers
will be your expense. Newspaper advertising, signs for the yard,
mailing out information packets to prospective buyers - it's
all your expense when you sell it yourself. Then after your hard
work, you may get low offers and perhaps even negotiate poorly.
Honestly, sellers often net less money from the sale when they
try to save the commission.
Most "FSBO" sellers eventually turn to a real estate
agent for help. You could learn the things an agent does, but
is it worth it to spend all that time and maybe not even save
any money? Selling a home yourself probably isn't worth the effort
unless you really know what you're doing. But if you choose to...
The book continues here: How
to Sell a House Yourself - How to do it right when you try