Disadvantages of Selling a Home by Owner

Selling your house on your own might sound like a good idea. In fact, many people have been successful selling their home by owner. There are potential disadvantages and obstacles for anyone who is considering selling their home on their own rather than hiring a real estate agent.

Real estate agents and real estate companies have established methods or advertising houses and properties for sale. They often place pictures and descriptions of their listings online, have real estate books and other forms of promotion. Individuals and families who are attempting to sell a home on their own might find it difficult to find cost efficient and overall effective ways to get the word out that they have a home for sale. People who are selling by owner often find it difficult to reach a large enough pool of potential buyers.

For sale by owner creates other potential obstacles. People are often not experienced enough to negotiate and work with potential buyers as well. Trained real estate agents are often able to show people the positive attributes of a home and to help them work though any potential negative aspects. Those who are attempting to sell a home on their own might not have the same ability due to their lack of experience as well as their own bias about the worth of their house.

Unlike real estate agents who make their living selling homes, most people selling a house by owner already have a job. It can be time consuming to promote and sell a house. Those individuals who are tackling the task on their own might find that they do not have enough time to devote to working on the sale of their home.

Real estate agents have received training in order to know how to handle sales and buyer contracts. They know about many of the legalities of selling a home. Trained realtors also have experience negotiating prices and other buyer or seller requirements. Someone who is using the for sale by owner method will often lack the experience and expertise to proper handle the sale of the house.

It is not to say that a person cannot be successful at selling their home by owner. These sales occur all the time. Anyone who wishes to consider this method should know that there are several hurdles to overcome if they are going to sell their home and do so in a reasonable amount of time.