San Diego, CA (PRWEB) May 30, 2014
Selling a home without obtaining the services of a real estate agent can be a tempting prospect for many people. But is it really that good of an option? A new guide from Loan Love takes a look at the pros and cons of selling a home without a realtor so that sellers can weigh their options and make the best choices regarding their homes. As a borrower advise website dedicated to helping home buyers find loans they will love, Loan Love has quickly become a trusted destination for current news, expert loan advise, and first class information that can help home buyers find the best deals and help home owners make the most of their home owning experience. The website’s newest articles continue to provide in-depth information, links to valuable resources, and connections to top rated industry professionals.
This new guide from Loan Love titled “Selling Your House Without A Realtor (PROS & CONS)” explains that those who are thinking about selling a home without the help of a real estate agent should weigh their options carefully, as there are reasons that realtors exist. There are, of course, some cases where opting out of using a real estate agent could be the best option. For example, the article notes that most homes that are put up For Sale By Owner (FSBO) are sold to buyers who were previously known to the seller or to buyers that directly contacted the home owner to express interest in the home before the homeowner decided to sell. In these cases, a realtor may not really be necessary, and this could save the seller the expense of paying the five to six percent commission to the real estate agency on the selling price of the home. The article goes on to list some other perceived advantages of selling a home without a realtor aside from no commission fees, and then takes a look at the flipside of the coin.
Loan Love states that one of the main disadvantages of selling a home without a realtor is that: “…FSBOs typically have a lower median selling price, with the typical FSBO home selling for $174,000 compared to $215,000 for agent-assisted sales. Even after commission is paid at the full 6 percent, the agent-assisted home owner would receive $202,100 compared with $174,000 for the FSBO. Suddenly, the commission becomes less of a factor once the expected difference in selling price is taken into account.”
Clearly, there are some benefits of selling a home with a realtor. Loan Love continues, saying, “This higher sales price is generally attributed to your real estate agent’s ability to expose your listing to a much larger audience than you can, even with the growing number of available housing market websites. In addition, there are other advantages to securing the services of a real estate agency:
- You do not have the added time commitment of showing your home or missing a sale because you were unavailable.
- A real estate agent is only bringing qualified buyers to your door. You do not have the risks associated with inviting total strangers to walk through your home.
- Your real estate agent will handle all the messy paperwork, dotting the i’s and crossing the t’s to assure everything is legal and complete.
- Real estate agents can be an invaluable resource every step of the way. For instance, an agent often knows which lender will work hardest to get a buyer with a so-so credit score approved.
- Because an agent can expose your property to a wider audience of potential buyers, they are often able to obtain a higher sales price for your home, which can offset some or all of their commission.”
For more information on the pros and cons of selling a home without a real estate agent, click here to read the full article at LoanLove.com.