We live in a fast-paced, can-do world where seemingly all information can be found online and independent financial decision making is common. It seems logical to some people to list their homes for sale by owner. Why hire a realtor when even the most clueless of us can google “how to sell my home” and figure it out for ourselves?

The fact of the matter is, no matter how much you google, you can never fully prepare for this huge and complicated financial decision without some knowledge from inside the industry. There are many regrets of listing homes for sale by owner. This is why the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years. As businessman R.H. Grant once said, “When you hire people that are smarter than you are, you prove you are smarter than they are.”

Here are six regrets of listing homes for sale by owner that every homeowner should consider:

1. Dealing with Difficult Negotiations:

   Let’s face it, for most of us, negotiating is not a pleasant activity. Sure, there are some of us that thrive on it, but for the majority of us, negotiating with someone who you want to eventually agree with can be a slightly uncomfortable process. Having a real estate agent to handle the negotiations can make both the buyer and sellers more comfortable as they provide a barrier for discussing delicate topics.  Real estate agents are also negotiation experts. Imagine yourself in a tough negotiation situation. How far should you be willing to bend to ensure a fair deal? How do you handle spontaneous or unusual requests? Your realtor would know the answers.

   

2. Missing Out On Insider Knowledge:

   You don’t know what you don’t know, right? Well, your would-be real estate agent does. Realtors know their local real estate markets inside and out. This means they have valuable information about the current market which is necessary for accurate pricing. It means tips and tricks for how to make minor home improvements that could nicely increase your sale price. It also means information about the future direction of the market, nationally, locally, and even on your block. What could you be losing by selling that home in an up and coming neighborhood 5 years too soon?

3. Long Listing Times:

   Why? Missing out on potential buyers. Agents have huge networks of buyers, which translates to shorter listing times and more competitive offers. Missing out on this is one of the top regrets of listing homes for sale by owner. Property doesn’t sell due to advertising alone, which is why word of mouth is so important. Real estate agents have a huge network that very well could include your home buyer. Agents at RE/MAX Paradise have the added benefit of having all of RE/MAX as a resource. With over 100,000 agents providing a global reach of over 100 countries, nobody sells more real estate than RE/MAX. The international nature of the Miami market makes this global reach even more importance.

4. Paperwork Headache:

   For most of us, dealing with large amounts of paperwork leads to large amounts of stress. What documents and contracts do you need to have in order to make sure your home sale is done by the book? One of the best personal benefits of hiring a real estate agent is avoiding that paperwork headache. Your realtor will take the lead and help you navigate the maze of paperwork that now accompanies a home purchase, making your life substantially easier.  Real estate agents are also up to date on all of the housing code and regulations, so you can stop worrying about forgetting the details.

   

5. No Support System:

   Selling your home can be an emotional time, and emotional decisions do not always stand up to rational analysis. You need someone there to help you make the tough calls. Even if selling your home is not an emotional situation for you, it’s still important to have someone in your corner who has a vested interest in your success and happiness. Remember, real estate agents rely on the relationships they build for continued business. That means that your future business is as important to them as your current business, so they are going to want to ensure that you are happy.

6. Not Getting The Best Price:

   One of the biggest regrets of listing homes for sale by owner is not getting the best price. Many of the benefits of using a realtor that were previously mentioned bleed into this all important skill. Real estate agents are highly trained in housing appraisal, they know the market, they are skilled negotiators, they have the network to generate competitive offers, and they know the necessary improvements to boost the worth of your property. Some choose to list their homes FSBO to save on closing costs, but in the end, the costs will most likely outweigh the savings. A survey conducted by the NATIONAL ASSOCIATION OF REALTORS® of recent home buyers and sellers found that the typical home sold by the homeowner sells for $210,000 while the typical house sold by an agent sells for $249,000.

Before you decide to take on the challenges of listing your home for sale by owner, sit down with an agent at RE/MAX Paradise to see what they have to offer. Don’t fall victim to the regrets of listing homes for sale by owner. Listing with an agent can save you time, frustration, confusion, and money. Get in contact with one of our certified and ethical agents today.