When you want to sell your home, you'll need to decide whether or not to use a real estate agent.
There are benefits and drawbacks to both, but it’s important to remember that no two situations are identical. You need to determine which scenario is right for you.
Here are a few questions to ask yourself to determine whether or not you should work with an agent:
1. Have I Ever Sold A Home Before?
Selling a home can be a stressful process. Without the right knowledge, it may be difficult to to do it on your own the first time. Take a look at our article about selling a home online for some additional insights.
2. How Well-Versed Am I In The Market?
How much do you know about what other homes in your area are selling for and how does your home compare to them?
What is the housing market currently doing right now and how is it trending toward in the future?
If you’re not confident in the direction of the market, you might price the home based on where it was yesterday, not where it should be tomorrow.
3. Do I Have Someone To Handle The Legal And Financial Paperwork?
Selling a home is a complex process. You will need a solid relationship with an attorney to help you facilitate the paperwork that’s involved. Filling these documents out incorrectly can get you into legal trouble, slow down the process of the sale, and potentially cost you thousands of dollars.
4. How Am I Going To Get Buyers Into The House On My Own?
How will you attract home buyers and how will you know if they are qualified? If you’re in a competitive housing market, you need to market your home and to attract buyers to your property rather than other homes in your community.
5. How Long Are You Willing To Go Before You Decide To Bring In An Agent?
How long are you willing to try to sell your house on your own before you say, “Okay, it’s time to bring in a professional”? Set a deadline of 30 or 45 days before handing it off to an agent. Determine what that line is and stick to it!
6. Can I Afford To Hire An Agent?
Determine what your financial goals are for this process and decide whether or not there’s enough equity in your home to handle that cost financially.
Identify how much you want to net when you sell your home and stand firm on that number. However, if you don't get that much, does that prevent you from actually going ahead and selling it?
You need to determine how much your time is worth versus the cost of hiring a realtor.