What Do Homesellers Risk When Selling Without an Agent?

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Have you tried selling your home with the help of a real estate agent? We know people who had experienced that and they say it’s not much different from having to handle legal matters without the slightest idea about the law.

You may have the confidence that you can handle it, but the trouble is, that misguided confidence can get you into trouble, especially because you don’t know what it is you don’t know.

Let’s just say that when you are in that kind of situation, you can actually cost yourself money, time, effort, and overall a positive outcome.

Here are some of the things sellers risk when they don’t have representation:

Time

You probably have no idea how much time you need to dedicate to your endeavour. First of all, you should always be available to show your house and it should be accessible on a short notice. You also need time to schedule and manage appointments. And of course, these are not just the things that you should allot time to.

Marketing

Do you have any idea how you’re going to market your property? Do you know the buyer demographic for your home and your neighbourhood? How are you planning to reach potential buyers? See, real estate agents have access to predictive analytics. As pros, agents can strategically promote the house to other agents in the community as well. Seasoned real estate agents will know how to best market your property.

Negotiation Experience

How would you respond to an offer? Do you know what to look for in the purchase agreement? There may be terms and conditions that could be disadvantageous to you as a seller. You should know how to negotiate to make sure you’re keeping the buyer in the game as opposed to chasing him away. See, there is that perfect balance between protecting a seller’s interest while still working with the buyer to make sure they achieve their goals too – and that balance has been perfected by seasoned real estate agents like Bonnie and David Wan.

Managing the Transaction

Let’s say your home is now under contract with a buyer – do you know what to do next? Do you know who you need to contact? If you’re going to handle everything, that means you can handle all probable challenges like when the property does not appraise for the contract sales price or when the deal derails because of some home inspection issues.

Closing Mastery

Do you know what the protocol is for closing and what are expected of them? There are markets wherein sellers have to move out on closing day while in others, the sellers still have possession of their property for a couple of days after closing.

Will you be able to handle unexpected, last minute issues that could possibly arise? Things really can happen, like the movers damaging the home while moving your furniture out or even worse, your hired movers don’t show up on the agreed upon date.

Selling a home without an agent is like joining a battle without weapons. You think you can save some money when you forego having an agent, but it can actually cost you, what with all the uninformed and costly mistakes that you can do. Make sure you don’t make this mistake by getting the help of The Right Wans!

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