When it comes time to sell your house, one of the decisions you will have to make is whether to list it with a real estate agent or take the more direct route and do it yourself. While the former is the traditional method used, more and more homeowners are choosing to sell their homes directly to buyers in order to save time, money, and hassle. Though each situation is unique, here are just a few pros and cons of these two different options to help you decide which path to take when selling your house.
Hiring An Agent
If you opt to use the services of a real estate agent to sell your house, the advantages are many. Real estate agents are experienced professionals who have both the expertise and the network to ensure that your house will receive maximum exposure, and stand out from the competition. They are privy to information on local real estate trends, and have the capacity to implement strategies that will increase your house’s value and help it fetch the best possible price. It means you have an experienced negotiator to stand in your corner and represent your best interest in the transaction. In addition, your agent can help take the work off your hands, from advising you through the never–ending paperwork and regulations, to field inquiries and showing potential buyers around the property.
Hiring an agent may seem like the smart choice, however, there are some potential drawbacks to be aware of. The most obvious of that is the money; typically, agents take a commission ranging from 6 to 8%, which could add up to thousands of dollars depending on the sale price of your house. Furthermore, agents work on a timeline and depending on their availability they may not be able to guarantee how long the process will take. It‘s not uncommon to find yourself waiting months before the right buyer is found. On top of that, it‘s common for buyers to ask for repairs or other home improvements, which can be an added expense for you, the seller. All of these things should be taken into consideration before deciding whether or not it‘s worth hiring an agent. It‘s important to weigh up the costs against the potentially greater convenience of an agent but also the additional expertise and insight they may have.
Direct Sale
Directly selling your house has certain advantages you won‘t get with an agent. Foremost amongst them is the money saved on commission. Without any agents involved and their fees, all money gains are kept by the seller. There is also complete control over the timeline of the sale – if you want to take your time, you can do that, but if you want to move quickly, you can do that too. Not having any agents could also help the seller keep confidentiality by not having to divulge too many personal details to the agent. Furthermore, the seller has the freedom to negotiate with the buyers directly, ensuring that the terms and conditions are favourable. Additionally, you the seller get to keep all of the profits from the selling the house, without handing over a portion to an agent, unlike when working with an agent.
If sellers are considering selling their house, directly selling could provide them with many advantages, such as cost savings, control, flexibility, confidentiality, and all of the profits remaining with the seller. This might be the right choice for some people, and a great way to get the highest potential value for their house.
On the other hand, the process of selling a house without an agent can be time consuming and overwhelming. You have to find a buyer and have them sign a contract, and handle the negotiations and paperwork. You’ll also need to market the house and make sure potential buyers get to see it. And, if you’re unfamiliar with local real estate laws, this task can become even more arduous.
At the end of the day, the decision of whether to hire an agent or go the direct sale route when selling your house depends on your individual circumstances. Costs, time availability, and comfort level with real estate are all factors you should consider before making a decision. If you do decide to go with a direct sale, you may want to hire a licensed real estate attorney to help you with the paperwork and finalization of the deal.
We’re here to assist you with any questions or concerns you may have about the choice ahead. Call Down South Florida Home Buyers today or send us a message to learn more about a direct sale vs. hiring an agent when selling your house in Broward. (239) 766-6225