What are the risks of selling a home yourself?

June 6th, 2016 RE/MAX
Blog post image

We’ve all seen the videos, read the stories, and gasped at the images of people who thought they could conquer a project that would have been better left to the professionals. There are entire Pinterest boards reserved for those who have failed, and compilation videos on YouTube.

While we are always ones for instilling confidence in others, we also want to make sure that all options are considered before attempting any DIY project. Especially when this project comes to your home, which is likely your largest investment. The decision to sell your home yourself does sound appealing, but many people who choose this option do not take into consideration all of the risks involved before making their final decision. Below are five questions you need to ask before you decide to sell your home yourself:

Is there enough time in the day? If you already have a full time job, family, or time consuming engagements, finding the time to not only prepare your home for sale, but actually sell it is a large commitment you need to be ready for.

How well do you know the market? The real estate market is constantly moving, adjusting and changing. There are trends you need to stay on top of, and information you need to know in order to successfully sell your home yourself.

Can you get the exposure you need? If the only thing letting people know your home is for sale is the sign on your front lawn, your pool of prospective buyers is extremely limited. You need to know how to market your listing to create high exposure and gain the attention of many potential buyers.

Have you practiced your negotiation skills? One of the many benefits of using a licensed Real Estate Agent is their experience when it comes to negotiating an offer. Just because you have an offer does not mean your job is done. Knowing the things to negotiate to ensure a successful sale will make a big different in the final outcome.

Do you understand your legal responsibilities? There is more to selling a home than simply putting a sold sign on your listing. There are many legal steps that need to be considered to ensure both you as the seller and the buyer are covered. If you answered no to any of these questions, or are unsure of the answers, it is wise to consider speaking to a RE/MAX agent to discuss how they can assist you in selling your home, and further showcase the benefits of using an agent.