The Drawbacks of Using a Realtor to Sell Your Home

The Drawbacks of Using a Realtor to Sell Your Home

Selling a property is a complex operation that requires knowledge and expertise. For that reason, you should seek professional help to ensure things are done correctly.

Hiring a professional realtor to help you sell your property quickly is a wise decision.

A realtor will accompany you throughout the negotiation process up to closing the deal. It is also the realtor’s job to estimate the value of your property, gather the documents, and come up with the right marketing strategy for promoting your home on the market.

However, you should be aware of the many drawbacks that come with it which we should be covering in this article.

Keep scrolling to learn more!

Is it worth going through a realtor?

A realtor will ensure that your home is in good condition before putting it up for sale.

The realtor will make sure that your property is ready to sell in different aspects such as the condition of your home, selling time, timeline, and market condition.

A home inspection will be done to check for damages. The realtor then will recommend an approved company to administer home repair, staging, and other services that will help promote the property.

Your realtor knows the best time to sell your home. You can ask for a home estimate value to give you an idea of how much roughly.

Going through a realtor is also an advantage if you want to sell your home quickly. They do have a list of reserved clients in need of buying a home quickly.

That said, it is really worth hiring a realtor to help you go through the process of selling your home hassle-free.

For selling your house quickly and easily in Richmond VA, contact The House Guys!

How much does it cost to hire a realtor?

Generally speaking, the realtor’s cut is 5 to 6% of your home’s selling price which is paid only when the house is sold.

However, it can be negotiated depending on the final price of the house and closing costs.

The question is…

Is it worth hiring a realtor? Would you rather go for the For Sale By Owner (FSBO) route to cut costs?

Think hard and make sure to consider everything before deciding.

In addition, aside from the commission, there are other fees incurred while your property is on the market such as:

  • Photography
  • Home Inspection
  • Staging
  • Closing Cost

If you want to calculate how much exactly will everything cost, you need to know roughly the selling price of your home, the number of agents within the deal, and the percentage they charge for their representation.

What are the disadvantages of hiring a realtor?

Although using a realtor to help you sell your home quickly provides various benefits, it isn’t always sunshine and roses.

There are a few drawbacks that you should be aware of before using a realtor to sell your home.

First off, the 5 or 6% commission is a hard pill to swallow. It’s not a small amount to be deducted from your profit.

Also, most realtors are juggling multiple clients at once which means that you may not be getting the personal attention that you require. It can be frustrating considering how expensive the service is.

Another drawback is selling your home depends on your realtor’s time, effort, and organizational skills.

If your realtor does not devote enough time to selling your home, your required timeframe will not be met. This scenario will affect your sale and profit and finding or moving to your new home.

In that sense, many homeowners prefer the FSBO route to be in control of the selling process and gain a higher profit.

Can I sell my home without hiring a realtor?

You can sell your home without a realtor!

In 2019, around 11% of homeowners prefer to sell their property without a realtor.

It is reckoned that selling your home without the realtor’s assistance is going to save you thousands of dollars and gain higher profit depending on your home’s selling price.

In addition, non-realtor assisted homes sell quicker. Based on the data obtained by the National Association of Realtors, 58% of FSBO homes sold in less than two weeks.

In most cases, homes are sold to friends, colleagues, neighbours, and acquaintances which involve a quicker process compared to a traditional sale.

The Bottom Line

A realtor is definitely a big help when it comes to selling your home. They will handle the process for you from preparing your home, staging, paper works, putting it up for sale up to closing the deal.

These all sound convenient but consider this:

It’s going to cost you quite a chunk of money which can be deducted from your profit after the house is sold.

Also, you’ll be on someone else’s schedule, and selling your home will depend on your realtor’s time and effort.

So, if you have some background on selling property, perhaps you can do it all yourself. You will save money and be on top of the selling process. And perhaps sell your home pretty quick!

However, if you’re avoiding the hassle, you’re far better off finding a realtor to handle everything for you.

Bear in mind to choose a realtor that’s worth every penny.

Find someone who has solid experience as you’ll be needing a pro to ensure a successful deal!

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