Well, you can do whatever you want to with your home. You purchased it for a reason, and I am sure you have worked hard to maintain it and increase its value as much as possible. I know you want to keep every penny you deserve! However, you may not realize that there are soooo many steps involved in selling a home. Some of the steps include, but are not limited to:
- trying to find and buy a home at the same time
- finding a stager if there is a need to arrange furniture and décor
- getting the house organized and professionally cleaned
- finding a photographer
- determining what repairs could be completed prior to sale that would add a substantial value to the sales price
- finding and analyzing comparative houses and their sales prices
- understanding all the documents and addenda involved in a legally binding contract
- verifying all the legal information associated with title, liens, and the deed
- marketing the property via web site syndication and print materials
- organizing and running an open house
- getting a secure lockbox and showing system
- analyzing weekly summaries of activity on property
- comparing offers in multiple offer scenarios
- communicating negotiations
- coordinating with title company
Like I said, this list is certainly not exhaustive. But the moral of the story is that there are many complex elements of selling a house. A real estate agent is well-versed in all of these steps and can handle the balance of managing the selling process from start to finish.
But let’s look at the numbers, shall we?
In 2020, the average sales price of homes sold by owner was $217,900*.
In 2020, the average sales price of homes sold by a REALTOR® was $295,000*.
The math on that is an average $77,100* lost by owners who chose to sell by owner rather than list with an agent.
So let’s say the seller agent’s commission is on average 3% (this is not a fixed number, by the way). That would have been $8,850 on a $295,000 house. So the seller would have still made a profit of $68,250 on top of what he or she would have earned if he or she had sold by owner at the $217,900 average price.
BOTTOM LINE: Don’t lose money on the sale of your house. List with a REALTOR®.
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*Quick Real Estate Statistics. www.nar.realtor. (2020, November 11). https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics.
