Selling a home solo is a move you might regret.
- Selling a home on your own means saving yourself a real estate agent fee.
- But working with an agent could benefit you in more ways than one.
- Real estate agents can help with pricing, staging, and negotiating with a buyer.
Although homes aren’t flying off the market at record speed these days like they were last summer and earlier this year, the demand for homes is still pretty strong. As such, if you’re looking to sell your home, you may be wondering if it makes more sense to do so on your own, as opposed to with the help of a real estate agent.
There’s really just one major downside to enlisting the help of a real estate agent — the cost involved. Agents commonly charge a 5% or 6% commision for their services so that if you sell your home for $500,000, you could end up losing $25,000 to $30,000 of that to fees. And if you’re trying to keep as much of your sale proceeds as possible to use as a down payment on your next mortgage, it’s easy to see why you wouldn’t want to just give up that money.
But while the idea of saving yourself a chunk of cash may be nice, financial expert Dave Ramsey insists that it’s still a good idea to hire a real estate agent — especially if you want your home to sell quickly. Here’s why.
1. You’ll get help pricing your home
You can do your own research to see what comparable homes in your area are selling for and use that data to come up with what you think is a reasonable sale price for your property. But you might still end up missing the mark.
It may be that your home has a feature that may allow you to command a higher sale price. Or maybe your home is missing a feature that other nearby homes have, which makes the case for a lower sale price.
Ramsey insists that one major benefit of working with a real estate agent is getting help pricing your home. Your agent can help you strike that ideal balance so you’re not coming off as unreasonable but also aren’t selling yourself short.
2. You may get help with home staging