Is It Really Worth Trying To Sell Your Home Yourself?
Posted on January 9, 2008
Filed Under Las Vegas FSBO |
Is Selling Your Home Yourself A Good Idea?
Are you thinking about selling your Las Vegas home? Have you been thinking of selling it by yourself instead of hiring a real estate agent? Today’s Las Vegas FSBO’s needs to realize the Pro’s and Con’s of each marketing method. I’ve taken the time to list the pro’s and con’s of trying to Sell your Las Vegas home yourself.
The Advantages of Selling Your Home Yourself
The #1 positive issue with selling your home yourself is the money. You’ll save money by selling it yourself because you won’t have to pay a commission to a real estate broker. This could mean big money in your pocket after closing.
Another PRO is that you are able to decide when the open house will be.
Let’s be real. Many real estate agents have many homes they need to sell. You only have one. Who is going to work harder trying to sell your home, you or the agent? It is obvious that you will have more interest in the sale than an agent.
The Disadvantages of Selling Your Home By Yourself
Real estate agents are paid a lot of money for a reason. Selling a home is hard work when it’s done right. Dealing with legal issues, closings, open houses and showing the home to potential buyers is a real drag. A good real estate agent can do all those things and more.
Several national survey’s have showed that homes that are sold by real estate agents sell much quicker than FSBO’s. This is no different in Las Vegas.
Other surveys found that over 80% of FSBO’s end up using a real estate agent to sell their home. Think of all the wasted time and effort those Sellers put into selling their Las Vegas home. They could have been doing other things.
Often a FSBO comes out with less money that if they had just started with a good real estate agent!
Another factor that you have to be aware of is that many Buyers believe a FSBO should come down off the price because they’re not paying an real estate agent! Right off the batt they expect you to come down 3 to 7% of the asking price!
Home sellers have to be realistic. Can you take off time to show your home? Making a Buyer wait may mean they find another Las Vegas home they like better. Do you think you are indeed a good negotatior? Can you close a deal? Do you have experience in closing deals? Part of a real estate agents training is in negotiations and closing deals. Selling a home in Las Vegas is a big undertaking and should not be attempted by the faint of heart.
Selling your home is not impossible, but it can be very challenging. If this challenge excites you and if you are willing to learn then it is not impossible managing selling your home without the help of an agent. With some know-how and a lot of energy you can sell your house without the help of a real estate agent and save thousands.
How Do I Begin To Sell My Las Vegas Home Myself?
Sit down and start evaluating your house. Finding the right price is the first and most important step when selling your home yourself. Many Las Vegas FSBO’s price their homes way out of the market price range.
Many Las Vegas FSBO’s start so high, they automattically eliminate many prospective buyers.
How’s this?
Let’s say your Las Vegas home is really worth $400,000. You try and sell it yourself and you think it’s worth at least $489,000. I mean afterall, everyone know’s how hot the Las Vegas real estate market is don’t they?
Now, you have Mr. and Mrs. Young Family looking for a home. All they can afford is $410k. Do you think they start looking at homes above their price range? Not at all, they generally start at the top and work their way down.
You home is perfect for them. But you and they will never know it because you priced it too high and it didn’t show up on any searches when they had a top limit of $410,000.
Las Vegas FSBO’s shoot theirself in the foot more times than not. Don’t you be the next one!
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