By: Louis & Carmela Kapeleris

Pros and Cons of Selling without An Agent

Tags: selling without an agent, pros, cons, selling a home

While many Homeowners sell their house with the Assistance of a Realtor, some prefer to handle it themselves. Selling your home without an Agent can be a lengthy, complex process. The biggest Downside is the demand on your Time, and the Legal and Financial risks. 

Remember, Verbal agreements cannot be enforced. Put every aspect of your contract in writing and make sure that everyone involved signs the agreement and  be aware of any conditions the buyer has added to their offer. Preparing the proper documents, legal forms, disclosures, waivers, amendments etc. are your responsibility. Even the smallest mistake can mean serious trouble.

Next -Your Safety comes first. The majority of lookers are safe, honest people and quite possibly home buyers. However, security measures are necessary for the possibility that one of the visitors could see your home as an opportunity for crime.

So my advice is - Make all your showings by appointment only, Always get a name and number and call back to verify them . Ask for their Drivers licience before you let them in to view your home. 

Place all valuables out of sight. Hide ALL prescription drugs.  Eliminate displays of personal information. Accompany them at all times.  Beware of casual questions like “Do you have a security system?”  "Why aren't you using a Realtor? Is there something wrong with the property? and "Since you aren't using an agent, can we take their fee right off the top?

For Sale By Owner homes typically attract Bargain hunters who often expect you to lower your price since they, too, are looking to save money on commissions. These buyers will often deduct the commission from your asking price and then start low ball negotiation with you from there. 

For many Unrepresented Sellers, the financial savings are disappointing. By the time they figured the amount of fees paid to outside attorneys, consultants, inspectors, appraisers, and loan officers, marketing, advertising... they would have been better off to have paid the agent fee which would have included many of these charges up front. 

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