Top 6 Disadvantages of Selling a Home in the Tuscaloosa and Birmingham Area without Using a Real Estate Agent - FSBO
For Sale by Owner (FSBO) is a process in which a property is sold without the use of a real estate agent. Homeowners who decide to sell their home in the Tuscaloosa and Birmingham area without the help of a real estate agent will need to invest extra time and effort into their sell, so it’s important to consider this option carefully before deciding the best route.
Deciding to sell on your own is not for everyone. Before you decide to go the FSBO route over hiring a trusted real estate agent in the Tuscaloosa and Birmingham area, at DSEAYCOM we highly recommend reading the following top 6 disadvantages of selling a house without the help of a professional real estate agent.
1. Lack of Resources for Advertising and Marketing
A sign in the yard isn’t much of a marketing plan. Effective marketing takes financial resources, experience, connections, and marketing skills.If you don't know exactly what you're doing, this can be very expensive.
At DSEAYCOM, we spend an enormous amount of research and marketing dollars to invest in the latest technologies that are not available to the average homeowner in the Tuscaloosa and Birmingham area. Some other popular marketing strategies that we use on a daily basis include signage, ads in newspapers and magazines, mailings, open houses, flyers, the internet, networking groups, company contacts, as well as past and current contacts.We go the extra mile with extra advertising and foot work.
2. Inability to Access the MLS
These days, home searches begin online. Most MLS organizations release their listing data to appear on dozens of other websites;this is where most of the properties on a buyer's list come from. With your property listed, your agent may frequently receive calls from other agents in the Tuscaloosa and Birmingham area inquiring about your property. This single tool can drum up interest for your property, resulting in more tours and a faster sale.
The Multiple Listing Service is only available to licensed Realtors who are MLS board members. Most buyers’ agents look at the MLS systems first, when dealing with a buyer. If you choose to work without a real estate agent in the Tuscaloosa and Birmingham area, you're going to lose that advantage. Without access to the MLS, you’re left with fewer options that will actually get a significant amount of potential buyer traffic.
3. No Advice for Professional Pricing
Without using a real estate agent in the Tuscaloosa and Birmingham area, you are going by your best guess when deciding what your house is worth. But in real estate, you have to play by the rules; comparable sales for the area determine the market value of your house. Choosing the right price that is realistic for your market is challenging.If you're not knowledgeable about it, you may not price your house correctly.
The good thing about working with a professional is that they have a lot of experience in pricing homes in the Tuscaloosa and Birmingham area. We will look at recent sales of similar properties, and then recommend a sale price that is reasonable, fair and competitive.
4. Difficult Paperwork
One of the greatest disadvantages when selling a home in the Tuscaloosa and Birmingham area without using a real estate agent is the tremendous amount of time you have to put into the sale because selling a home is a full-time job.Do you really want to take on all of the extra work yourself? Do you want to spend the time and money for marketing yourself? Can you afford it?
There's a lot of back-and-forth negotiation, a ton of paperwork, and sometimes, the legalities of selling a property can be overwhelming. Agents have training and know the laws while FSBOs in most cases do not. If you go on your own, you are taking a huge risk that could get you into legal trouble and cost you a lot.When you choose to hire a real estate in the Tuscaloosa and Birmingham area, your agent can review sales offers with you, help write your counter-offer and so forth.
Closing is also a lot of signing and paperwork; if something goes wrong at this stage, it can be a huge relief to have an agent with you, because they can help fix things quickly.Agents do a lot of work behind the scenes and are available to handle the transaction from start to finish; not to mention they will be looking out for your best interests.
5. Higher Level of Risk Associated with Security and Safety
When selling a property yourself, you are responsible to show the property to potential buyers in the Tuscaloosa and Birmingham area. Unfortunately, you may not always be available when buyers are. This limits your property’s exposure and drags out the sale process. With an agent, you know that the person showing the home is a licensed professional working with their clients. Therefore, you don’t have to be glued to your phone and constantly rearranging your schedule in order to meet up with potential buyers to conduct tours of your property.
When selling a property in the Tuscaloosa and Birmingham area, the majority of buyers will have a genuine interest in your home; however, your home may be an easy target for theft and burglaries. When you work with an agent, he/she can make sure that only serious, qualified buyers gain access to your home.
6. Lack of Experience
Negotiating the sales price requires skill in understanding of buyer psyche, the ability to handle objections, controlling your emotions and a great deal of patience.
Without using a pro, you are doing your own negotiating. The problem is when you get an offer - what do you do with it? What does it mean for your bottom line? Can you negotiate it? That's where a professional real estate agent is key- they can make sure that you don't accept an offer that is way too low, and they can make sure that you don't kick out a reasonable offer because you don't like the buyer.
Another problem is your emotional investment. As the principal and self-agent you are more emotionally involved in the transaction. An agent is a 3rd party who can guide you to making sound decisions that are in your best interest, instead of you making rash emotional decisions on your own out of greed, frustration, excitement, etc.They can screen feedback, offer suggestions, play hardball during negotiations, conceal motivation, and share reasonable terms/conditions.
If you think that it may be a little difficult to handle the sales process on your own, you should hire a real estate agent.
Selling a property in the Tuscaloosa and Birmingham area without using a real estate agent is a difficult endeavor and can take time, energy and a lot of patience.If the thought of doing all of the work makes you nervous, don’t hesitate to call us. At DSEAYCOM, what you pay for our service is truly worth the money. We are experts in this field; constantly looking at comparable properties, and having a keen sense of what the market is doing. We will make sure that your home selling experience will be memorable and that you will sell your home at the best price possible.
At DSEAYCOM, we’re happy to answer any questions you have about buying and selling in the Alabama area. Call us now or and feel free to share our contact information with someone you know that needs expert help on buying or selling their house.
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