Pros and Cons of Selling Your Own Home

Putting your home on the market yourself and skipping the necessity of paying many thousands of dollars of fees to a real estate agent can sound very tempting, but make sure you consider both the pros and cons before making this big decision.

In your favor are, of course, the potential savings on fees; if you have marketing and negotiating skills developed through your regular line of work, then you can also have a good chance of performing as well or better than an agent, because you personally have a lot more invested in the sale of your home.

The possible pitfalls are many. Some people will become defensive if potential buyers criticise aspects of the home, so if you are too house-proud selling yourself may not be the right answer for you. You also need to have a very good knowledge of the real estate market in your local area, or you risk pricing the property far too high and missing out on potential buyers. Finally, the negative side of having a lot riding on the sale means you may be unable to be objective when it comes to negotiations, or you may prefer particular buyers simply because they are the kind of people you want to have living in “your” house, even if they may not be financially viable buyers.

Think carefully before you take on this kind of responsibility yourself, because it may end up not saving you too much money, and providing an awful lot of stress.