Most people don't know enough to sell their own house. Here's why.
1. They Can't List It!
- Only licensed brokers and agents can create a listing in the MLS sale-by-owner houses will be invisible to agents and unavailable on the Web.
2. Agents Won't Show It.
- Typically, a buyer's agent gets part of the commission paid to the seller's agent. Sale-by-owner houses don't have that commission commitment so a buyer's agent might not get paid. No agents makes the pool of buyers MUCH smaller.
3. It's Probably Overpriced.
- Most homeowners don't have enough data and emotional distance to put a market price on their own home. and overpricing is another deterrent to potential buyers.
4. Buyers Prefer Neutrality
- Buyers will spend less time in the home and be less likely to make an offer because owners aren't neutral about the transaction.
5. Legalities & Complexities.
-Real estate transactions are complicated. Most homeowners don't know enough to avoid potentially expensive liabilities Overlooking a form or required disclosure exposes the seller to lawsuits AFTER the transaction is closed.
There are buyers with enough real estate experience to sell their own home but if you haven't ever sold someone else's home you probably shouldn't try selling your own.