The Dangers of Buying a Home without a Realtor®
Considering buying a home without an agent’s help? While it is possible, it’s certainly not in most buyers’ best interests.
Going solo with a home purchase often means:
- Paying more than is necessary, due to limited market knowledge and negotiation skills.
- Costly contract errors, particularly if certain contingencies are left off.
- Missed properties, especially with pocket listings and other up-and-coming homes.
- Difficulty finding vendors, like home inspectors, mortgage lenders, title agents, etc.
Since agents typically schedule and lead showings, forgoing representation may also make it hard to tour potential properties you’re interested in. Remember, buyer’s agents are paid for by the seller; it can only hurt to go it alone.
How Selling Your Home without an Agent Can Cost You
Selling your house solo is possible – but it’s definitely not recommended.
In fact, FSBOs (for sale by owners) usually mean:
- A lower selling point.
- A longer time on market. Sellers often price the property wrong or fail to market it properly.
- More hassles and headaches. The seller must handle everything from writing the initial listing to setting up showings and negotiating with buyers.
- Less exposure. Solo sellers don’t have access to the same marketing tools and platforms.
Selling your home without an agent may also require consulting an expensive real estate attorney to handle contracts and paperwork.
More reasons to choose a real estate agent
- 8 Reasons to Choose a Real Estate Agent Over “For Sale By Owner”
Why it’s worth getting a pro to sell your home by Investopidia.com.
- The Top 5 Reasons to Hire a Real Estate Agent. Benefits of Hiring a Real Estate Agent. TheBalance.com