Selling your property: How to make the right choice
Selling your property can be handled in one of two ways. Either you sell it on your own (For Sale by Owner), or hire a Realtor® to get it sold. While selling your property yourself might save you the Realtors® commissions, selling by can be very challenging especially if you dont understand the real estate laws for your state nor all the myriad issues that can arise in a real estate transaction. Here's a comparative analysis of selling through a Realtor® versus selling as a FSBO to help you decide which option is the best choice when selling your property.
Time, Effort and Convenience
Being a property owner does not mean you are a pro at everything that is related to your property. For instance, you might consider selling your property on our own, but that requires you to have a complete grasp over your local real estate market, accurate price evaluation, the exasperating process of non-stop buyers showings, all the negotiations, contracts and trying to get from contract to close. This requires you to allocate consistent time, efforts and resources so that you carry the process smoothly until the end. It’s easy to get a home sold, it's getting it closed without being sued or losing your shirt in the process is where a real estate professionals skills really shine.
On the other hand, selling your home through a Realtor® offers a home seller many advantages. For instance, being a real estate professional, they are equipped with the skills, knowledge and expertise required to handle such a complicated process. Moreover, a Realtor® understands all the intricacies of the sale process from inspections, market and price evaluations to sale negotiations, appraisals and legal compliance. Also when you list thru a Realtor all the showings are handled by them not you. So you can get on with your life knowing your Realtor is working on your behalf to get the home sold for the most money, in the least time and with the least hassles.
Negotiations are an essential part of the sale process in which both parties attempt to negotiate the terms of the contract most favorable to them. This is a tricky process that requires experience and expertise. Many owners selling on their own get trapped in the negotiation phase, ending up either on an underpriced value or backing out of the process. On the other hand, a Realtor® knows how to handle the negotiation process in a professional way, with an aim to find a win-win solution for all parties involved.
Financial Settlements and Legal Compliance
Financial settlement in terms of depreciation, taxes and mortgages is another critical process that requires a firm hand at quantitative and numeric calculation, current tax, interest and mortgage rates and other closing costs while getting the transaction closed. Selling it yourself means you will have to handle all of these real estate technicalities. A real estate agent will have the right professionals on their team to help you navigate all of the issues that go into selling your home.
Marketing and Promotion
As a FSBO, you will have to put in extra efforts to make your property visible to the buyers, through signs posts, bill boards, brochures and other marketing means. Trying to compete in the marketing arena with real estate professionals won't be easy as they have tools you will not have access to such as the MLS system for Realtors. This is where 90% of all homes are sold. A Realtor® also features your property on multiple listing sites that attracts a huge magnitude of visibility not just from local buyers but also the global buyers and investor groups. This provides you with multiple potential buyer options and increases your probability of selling your home for the most money in the least time.
While some owners may actually do a good job of selling their apparently not everyone has enough time, resources and knowledge to ace it. Therefore, rather than putting your largest investment, your property at stake, it is advisable you get your property listed for sale with a professional Realtor®.
For more information about selling property in San Antonio or Austin, Texas please call Doerr Realty at: 1-800-863-4154.
To contact Michelle Doerr (Broker) directly, please call: 210-826-3134.
For Austin real estate please call, Addie Butts (Listing Specialist): 817-881-5541.