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9 Pros and Cons of Selling a Home Without Realtor

Although realtors make the home selling process a lot easier, some buyers choose to go FSBO. Learn more about selling a home without realtor here.

According to the National Association of Realtors, around 10 percent of homes were sold by owners last year. If you need to sell your home and are looking to keep costs down, it’s certainly a tempting route to consider. Realtors typically charge between 5 and 6 percent of the sale price of the home for their services.

 

But is “for sale by owner” (FSBO) really as attractive as it sounds? Will it save you lots of money for relatively little time and effort? Let’s explore nine pros and cons of selling a home without a realtor to learn more about what it’s really like.

Topics Covered in This Article

The Pros of Selling a Home Without a Realtor

 

There are times when you just need to sell your home fast and move on with your life. You may have inherited a property and have no interest in living in it or renting it out. Or you may be going through a major life event, such as a recent bereavement or a divorce.

 

You’re looking to save money any way you can, and this brings onto the definite pros of selling a home without a realtor.

1. No Realtor Fees to Pay

 
The median existing home price in October 2022 was $379,100. Let’s do the math. If you pay a listing fee of 5 percent to sell your home, which is at the conservative end of things, you’ll pay $18,955. That looks like an awful lot of money for taking a few photos, putting an ad online, and conducting some showings.
 

If you’re prepared to do the work yourself, you will have certain fees to pay. You’ll still need to pay listing fees with online realty sites and pay for professional photographs. But you could definitely save big time by going it alone.

2. No Flexibility

 
When a realtor takes you through the home selling process, you’ll be tied in for a certain amount of time. The listing agreement will tie your hands, and you won’t be able to break the agreement without the realtor’s permission. If the relationship begins to sour, this could become a major problem.

3. Under Pressure

 
 Realtors sell homes all the time. You may only go through the home selling process a couple of times in your life. So it’s easy to feel pressurized into accepting their suggestions on everything. 
 

They may have strong opinions about how to stage the home, how to market it, and even how much the property is worth. It takes a lot of confidence to stand up to an experienced professional if you feel they’re heading down the wrong track. This can make for an uncomfortable experience, and you may not achieve the sale price you want.

The Pros of Selling a Home Without a Realtor

The Cons of Selling a Home Without a Realtor

 
 In spite of the above, the real estate sales process is complicated, and it can help to have an experienced professional on your side. If you choose to go it alone, there are some downsides to consider as well.

4. Lower Sale Price

 
 It’s impossible to say whether you will get more or less for your home with FSBO or with a realtor. However, the statistics don’t lie.
 

The NAR report quoted at the outset shows that the average sale price of FSBO homes was $225,000 in 2021. Homes sold by realtors averaged $330,000. Of course, there may be other variables at play, but the difference is stark.

5. Setting the Right Home Selling Price

 
Realtors use a mix of local knowledge, experience, and good judgment to advise homeowners how much their property is worth. Take the FSBO route, and you don’t have this luxury. You’ll have to do your own research and then make an educated guess before putting it on the market.

 

Price your home too high, and people will disregard it as out of their price range. You’ll miss out on motivated buyers and crucial early showings. If you do get someone interested, they may run into issues with the appraisal.

 

Price it too low, and buyers will be suspicious. They’ll wonder what’s wrong with it, and it may put them off.

6. Handling Negotiations Yourself

 
Real estate agents are not emotionally invested in your home. They’re able to take an objective view and handle negotiations with a cool head. Left to handle this on your own, you are more likely to accept an unsuitable offer.
 

During showings, potential buyers can be harsh. They may talk about flaws in the property that you can’t see. A realtor can absorb that feedback and help you to use it constructively.

7. It’s Time Consuming

 
The chances are you’re already juggling multiple responsibilities. If you have a full-time job and a family, when will you find time to market the property, follow up on leads, and conduct showings?
 

Also, most of us are not property marketing experts. So when the time comes to really sell your home to potential buyers, do you have the skills to do so? Working with a realtor takes this load off your shoulders

8. Miss Out on Realtor Contacts

 
Realtors have their finger on the pulse of the local market. They also have access to a large pool of contacts. They can market your home to people who may never have seen it otherwise simply because of their connections.

9. Keeping Things Legal

There are lots of legal forms to complete when selling a home. There are disclosures you must make, or you could be exposed to legal risks in the future. A realtor may be able to guide you through these formalities.

Selling a Home Without a Realtor the Easy Way

 

There are pros and cons to selling a home without a realtor. But the good news is that there is a way that’s much easier than FSBO. A way that allows you to get the home selling price you need without having to pay a listing fee.

 

At First Choice Home Buyers, we buy Pennsylvania homes as-is for cash. No need for an appraisal, no repairs, and no realtors. We make you an offer, and if you’re happy, we’ll handle the rest for you.

 

To learn more about the process or to request a valuation, call us at 717-744-9113 or reach out online today!

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