Buying or selling real estate is a task laden with challenges. Once you have decided to sell your property, you have to consider how you want to go about selling it. You may be perplexed on how to go about it though, especially if you haven’t sold property before. The first question that pops your mind is whether you should hire the services of a real estate professional, or should you sell your property yourself.
Both, selling real estate yourself, and contracting the services of a professional real estate agent, have their own pros, cons, and challenges. First, let’s have a look at how it is like selling real estate by yourself.
DIY: Pros and Cons
Dealing with real estate means dealing with big numbers. You’ll have to take into consideration a lot of things to make sure you get a good price for your property. Let’s face it; no investor is going to consider buying your property if it doesn’t have any value in the market. Should you install wooden flooring? Should you install a swimming pool and hope that your finances do not suffer too much for it? There is so much to take care of when you’re selling real estate yourself.
Another challenge you’ll come across when selling real estate yourself is that you’ll have to thoroughly research the real estate market. In this process, you’ll get a lot of free advice, especially from your loved ones. But remember, just because Aunt Edna sold her house for a good price doesn’t mean that she is qualified to give you advice. You love your family but they might not understand local pricings and market conditions even if they have purchased or sold property in the local market. This is especially true if they live across the country and have unrealistic assumptions of what the real estate market is like in your own.
Hiring the Services of a Real Estate Agent: Pros and Cons
When dealing with a real estate agent, trying to achieve a sale within a short period of time can be extremely difficult, packed with problems depending on the location and state of the property. However, real estate agents have a sound knowledge of the market and property prices. Real estate agents usually inspect a property before putting it up for sale. While they are experienced and knowledgeable and ensure a hassle-free service, you’ll have to pay their commission – which is the fee paid to a real estate agent for selling your property.
Selling your home doesn’t always have to be a stressful ordeal. Remember, it doesn’t take much to increase the value of your home and sell it at a good price if you are selling it yourself. Use your marketing skills to make your home’s value soar and you won’t have anything to worry about.