Thinking about selling your house on your own? DIY real estate sales were very popular years ago, and then they immediately slowed down as people saw time and time again how much of a mistake it was. First, you have to take on every job the realtor takes on, which is a lot. Next, you have to manage the potential buyers and go through question after question about the property. Remember, you are representing yourself which means all communication goes through you, even the pointless stuff that most sellers are able to avoid thanks to having a realtor.
The need for a reatlor comes down to more than just managing some annoying buyer, it comes down to understanding the simply mistakes that you can make on your own and just avoid them. A realtor will be an extra set of experience eyes, someone who has your best interests in mind when they make every decision and complete every task. DIY homes have been known to take longer to sell and come with more complications than the extra money will be worth.
Why DIY Home Selling Is A Mistake
A realtor works with you, not for you. However, the work they do for you is undeniable and it is beyond what most people are knowledgeable enough to manage on their own. It’s not just about the training and knowing the laws, realtors also have experience which can pay big if you are trying to sell your home and you want to max out your return. Here are some reasons why DIY sales rarely are as successful:
- Direct involvement with buyer: This will be the biggest and most annoying headache for you. Buyers are not reasonable and often times only care about what they want because they are not yet emotionally attached to the house. In fact, one of the best benefits of hanving a realtor represent you is that they not only manage the buyers but they also manage those who are not serious about buying and end up just wasting your time.
- Managing the buyers realtor: The other realtor wants the deal done just as much as you do. However, their interest is to help their client, not you. That means you now have more people you have to communicate with as well as to manage throughout this process.
- Marketing & listing: While it’s easier than ever to list your house, do you know what sites are best, how to make a great listing, how to share it and how to plan around not getting responses immediately? There’s a lot of experience that goes into the marketing of these houses and knowing how to handle inquiries the right way, especially if it’s just from people gathering basic information.
- Household regulations: Is your house up to date with all the required things that have changed in your neighborhood since you moved in? What if there’s a requirement for a new sprinkler system or electrical box? How are you supposed to know about these required upgrades? Some of them may be so important that you will not be able to sell the house until they are addressed. That’s why, having an expert walkthrough the house and tell you what needs to be done before you list it is essential.
- Buyer has advantage in demands: When dealing with the buyer, they are going to ask for everything they can think of to get the house at the best price and get as much work done as possible. These demands need to be handled carefully because you do not want to say no so much that you lose the buyer. Realtors have the advantage of managing these demands differently because they cannot immediately supply the answers and can also give you guidance on what your options are.
- Emotional responses: Imagine hearing someone say they love your house but hate the color and want you to pay to have it painted before they buy it. Wouldn’t you want to yell at that person for such a statement? If they want the house a certain color, they can paint it after they buy it. We tend to get emotional if we are responding immediately but if all communications are going through your realtor, you never have to worry about that.
- Offers: You’ve set a price for your property and now you’ve been given an offer that is $20,000 less but the buyer is willing to make the sale go way easier if you agree to that price. What should you do? This is not an easy decision and it also depends on if you have other offers, what you owe, the condition of the house, your current financial situation and more. Knowing where you are at will dictate your responses as much as anything but your realtor can help you understand the reasonable offers from the ones that do not give you a lot.
Selling a home on your own is unlike selling anything else. It can literally be a fulltime job just to get people to the point where you are ready to hear a real offer from them. The process is a constant grind and at best, it will still take months to get a deal done. You need someone with patience and experience throughout this process and no one but a realtor can offer that. Along with that, the realtor allows you to focus on your life which is probably a good thing. Ask yourself if you’re ready to make selling this home your responsibility because it will take up hours of your day that you may not have.
Realtors understand the challenges you are dealing with in trying to sell your home. Based on the condition of the property and several other factors, they can offer you guidance at a time when most people are not sure what to do and everyone has an opinion on how you can do things differently. This is an experienced, non-bias party that wants the same results you do and they will work hard to get you there.