The Big Risk Lurking In Your Oakville Home Sale
Every home seller wants to get top dollar for his property. In a bid to save a few dollars, some sellers prefer to sell their homes without the assistance of a real estate agent. With so much money at stake, most sellers prefer to hire an agent. Selling a home not only involves applying a few marketing strategies, there are certain legal requirements that you need to consider. There are many challenges and risks associated with selling your home through FSBO. Discussed below are risks that may arise as a result of choosing not to hire a real estate agent.
Lack of Experience
There is a lot of paperwork involved in most real estate transactions. An experienced agent has dealt with many contracts so he’ll ensure that the contract is properly worded and accurate. If you are not familiar with certain conditions that must be included in the contract, you or the buyer may end up losing a lot of money.
It’s very difficult to price your home when you don’t know what factors need to be considered. Proper pricing requires thorough knowledge of the local market and buyers which you obviously lack. A smart agent is able to use Comparative Market Analysis to help him price your home. When you choose to sell on your own, you are highly likely to get biased when setting the price. An agent can accurately price your home and give explanation to support the price range.
A real estate agent can assist in pointing out various things that need renovation as well as oversee the home inspection. The agent is unbiased and not emotionally involved hence he’ll help you view things in the right perspective. What appears appealing to you may not necessarily be appealing to the buyer.
Agents will advise you on what defects need to be disclosed and those that you can repair. When you’re selling on your own you may overlook some defects which could cost you up to thousands of dollars in court proceedings.
Limited Marketing Skills
Experienced agents use effective marketing strategies that will enable your house to sell fast. The agent will help you present your home in a manner that is appealing to most buyers. Agents have access to local board’s listings such as the multiple listing services (MLS); hence they can easily get you a buyer. These are skills which you lack and your house could take long before it sells. It’s convenient to hire an agent because you can concentrate on your work while the agent works at finding you the best buyer.
Selling your home without the assistance of a real estate agent is a difficult and risky venture. It may cost you to hire an agent but it could save you thousands of dollars in the long run. If you want to minimize risks and sell your home professionally, consider hiring an experienced real estate agent.