Deciding to sell your home is a big decision – and the first of many you’ll have to make once you set the process in motion. The next step is figuring out whether you want to sell your own home or rely on the help of a real estate agent. Weigh the benefits and drawbacks of each to make the decision that is smartest for you.
The biggest drawback to working with a broker is the fee. The average real estate commission is 6%, or $18,000 for a $300,000 home. However, for many sellers, the price is worth the services a broker provides, and roughly 87% of U.S. homes are sold by real estate agents. From setting the price and listing your home to creating advertising materials and hosting open houses to handing all the closing details, a broker will navigate the process from start to finish, saving you time and headaches. And because a broker receives commission only after your house is sold, they’ll be committed to making that happen as soon as possible.
While selling your own home saves money, it’s a huge undertaking that comes with its own set of considerations. Before you decide to do it yourself, be realistic about the time and energy you’ll need to devote to the process. Not only will you have to prepare your home to be sold, set the price, advertise, arrange showings, review offers, and negotiate, but you’ll also be working full time and looking for a new place to live. In many cases, you’ll be charting unfamiliar territory – from learning how to qualify buyers to figuring out what to do with the “earnest money.” Going it alone can be a daunting endeavor.
Ultimately, choosing between selling your own home or working with a broker comes down to this: Are you willing to sacrifice time or money? If you’re simply too busy to devote yourself to the process, a broker can provide valuable assistance and support. If you do decide to do it yourself, SharpHome has plenty of tools, tips, and advice to help you every step of the way.