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 some sellers with a real estate background that do have enough experience to sell their own home but in most cases you probably shouldn't try selling your own home.