Wondering how hard is it to sell a house? According to a recent report, only about 10% of sellers can sell their home without hiring a real estate agent. Another 10% of homeowners choose the for sale by owner (FBSO) route and, eventually, turn to a real estate agent for assistance. If you don’t like the idea of handling all of the paperwork, making all of the negotiations, and organizing open houses and showings, then it’s probably better to go with a professional. But, how hard is it to sell your own house?
How Difficult Is It to Sell Your House?
How hard is it to sell your own home? There are a few reasons homeowners believe they are better off selling without using a real estate agent, including time savings, cost savings by getting rid of commissions, confidence in their own selling abilities, total control over the transaction, ability to manage their own open houses and showings and first-hand perspective to highlight the location and features. Also, some sellers have already identified a buyer, which makes the selling process much easier.
But is it difficult to sell your own home? Furthermore, you might be wondering, can I sell my home myself? Essentially, it comes down to your own strengths and the amount of time that you are willing to commit to the selling process. However, it is crucial to truly understand what a good agent does so that you can replicate those skills and tasks.
These skills and tasks include things like becoming an expert on the local market, developing a pricing strategy, completing staging research, gathering all pre-listing paperwork, hiring professional photographers and videographers, listing on the MLS and sites like Trulia and Zillow. They also include knowing and adhering to anti-discrimination laws, adopting great people skills, hosting open houses and showings, handling info requests, vetting qualified buyers, negotiating prices and repairs, and gathering closing documents. Keep in mind that you’ll have to complete all of these tasks while finding and buying a new home and preparing for your own move.
Studies show that younger homeowners are more willing to try for sale by owner, partly because they want control over the selling process. Homeowners that live in the city (36%) are also more likely to try selling their own home than those who live in the suburbs (24%) or rural areas (29%).
How to Sell Your House
Wondering how to sell your house on your own? First, you need to set an appealing home listing price. While everyone wants the most money for their home, it’s never a great idea to overprice your home, since this tends to lead to more time on the market and a price cut over time. Instead, you should list your home on the market with a reasonable and accurate listing price. We recommend getting a professional appraisal and running your own comparative market analysis, using pricing tools and public records online.
Next, you need to prepare your house for sale by cleaning and decluttering your home thoroughly, staging it, adding light where needed, and doing any necessary repairs. We also recommend investing in-home marketing and advertising by hiring a professional photographer, creating an engaging home listing, and distributing ads and signs.
House Selling Difficulty: Variables to Consider
Is it easy to sell a home by owner? If you’re wondering how easy it is to sell your own home or how hard is it to sell a house by owner, you should consider a few variables. Here are some of the top reasons why sellers eventually choose to hire a listing agent after attempting to sell their own home:
- Selling is easier with an agent. Selling a house takes a lot of skill and time, from communicating with buyers and their agents to organizing showings. If you already work a full-time job, we recommend hiring an agent to assist you, especially if you plan to sell your home to a traditional buyer or if your skill set does not align with that of an agent.
- It takes too long to sell FSBO. Timing the sale of your home correctly is crucial to most sellers, and excellent agents are well versed in the seasonality of the market, as well as the best days to list.
- Paperwork assistance. There’s a lot of paperwork involved in the home sale process, This includes tax records, contracts, pre-inspection reports, and title documents. Agents can help you gather and manage all of these documents, which saves you time and allows you to get your home on the market and sold faster.
How Long Does It Take to Sell Your House?
The typical U.S. home is on the market for about 24 days, with 46 days on average to close on a purchase loan. The average time from listing to closing is about 70 days.
If you want to learn more about how hard it is to sell your own house or how hard to sell a home by owner, contact The Buy Guys! We buy houses in Orlando, Tampa, Ft. Lauderdale, Miami, and more. January 5, 2021