| 5 Obstacles Homeowners Face When Selling a House on Their Own |
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 When it comes to selling a home, many homeowners believe they can do it on their own. Whether they're trying to save money or simply want greater control over the process, homeowners who try to sell their homes without the help of a real estate agent may experience more stress than those that hire an agent. Here are five common challenges people face when they try to sell their home on their own:
Getting the Right Price
Many homeowners who choose to sell their home without a REALTOR® struggle with setting the price for their home and getting the most for their house. One of the biggest reasons why “For Sale by Owner” sales fail is an incorrect asking price for the home. Without the guidance of a competent real estate agent or appraiser, pricing the home correctly can be extremely difficult. The goal is to get multiple offers from different parties to put the seller in the driver’s seat with negotiations. However, when the price is too high, fewer buyers will be interested and the sale will take much longer.
Marketing a Home for Sale
Homeowners can list their home online without much effort, but so can everyone else. Good marketing ensures that the listing is noticed, and noticed by buyers that are a good fit for what the home has to offer. Sure, an agent will list a home online too, but he or she will also get the word out across a network of agents working for buyers in the area using the multiple listing service (MLS), and other established online real estate sites, in addition to their own website, which can be a prospect magnet.
Understanding and Performing Paperwork
Selling a home requires more paperwork than most people think. If they have never sold a home before, some of it can be difficult to understand and complete. A real estate agent has the training to comprehend all the legalese and explain it to you. Plus, they can remove this unnecessary stressor from the selling process.
Selling a Home is Hard Work
Many homeowners underestimate how long the selling process actually takes. From getting your home ready for sale, to showing potential buyers, to the closing process, selling a house takes much longer than most people think. Homeowners may, in turn, set unreasonable deadlines for themselves and inevitably fall short.
Preparing and Fixing a Home for Sale
Before homeowners can even post their ad, they will need to make repairs and stage their home. This is an essential step that most homeowners overlook when selling on their own. Potential buyers first judge the house by the photos posted with the ad, and if the photos don't show a clean and beautiful home, they will keep on scrolling.
Adapted from a blog by Meghan Belnap on RISMedia.com.
This material is meant for general illustration and/or informational purposes only. Although the information has been gathered from sources believed to be reliable, no representation is made as to its accuracy. This material is not intended to be construed as legal, tax or investment advice. You are encouraged to consult your legal, tax or investment professional for specific advice.
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