“For Sale By Owner” Do you really save money? How well do you know the market?
Do you really save money by not hiring a Real Estate agent? It all depends on how much you know about the Real Estate market in the Kansas City Metro area, your understanding of the market, the forces and trends driving it.
What a homebuyer in Independence, MO is looking for may be totally different than someone interested in buying a home in Olathe, KS. One will appeal to cost conscious buyers while the other will attract those wanting a better school system for their kids to attend.
How about what a 32-year-old male likes to have in a home versus a 54-year-old female? Which one will your advertising attract and where do you place your advertising?
Is the kitchen the best selling feature of your home? It depends on who the buyer is.
So while it is true that you may save money by not paying commissions to an agent, your lack of knowledge and understanding of the market (and the buyer) could easily erase your potential savings.
If a home is on the market for 90 days, you will reduce your profit on the sale in more ways than one, when you consider that a home that is on the market for that length of time will usually sell only after a dramatic price reduction, and the fact that you are paying a mortgage during that period of time will further reduce your net take.
This doesn’t even take into account all the work and stressful moments you will go through during this process.
So before you decide to sell your home, do yourself a favor and talk to a couple of Real Estate agents, then decide if this is something you want to undertake on your own or will it be best to use the services of a knowledgeable Real Estate agent. It will be time well spent.