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Do I need a real estate agent if I do a for sale by owner?

by | Jul 6, 2021 | Real Estate Transactions |

Like the rest of the country, Union County’s housing market is red hot. A seller can reasonably expect to find a buyer within days (if not hours) of putting their home on the market. In fact, you are likely to get multiple offers well above your asking price.

Since it seems to be so easy to sell a home these days, a lot of people are choosing not to hire a real estate agent to list their property. Others are not sure they can handle all the duties of selling their house by themselves. Is it possible to successfully sell your house without a realtor’s help?

The short answer is yes. There are several benefits to a For Sale By Owner (FSBO) arrangement, including:

  • No commission fee to pay to a listing agent. Sellers usually pay 4 to 6 percent commission, which the agents split. But if you don’t have an agent, you pay less commission.
  • You are in total control. You get to decide what your list price will be and when you will hold showings and open houses.
  • You get to talk to potential buyers directly and share your knowledge of the home and neighborhood.

A lot of people lack the time or inclination to handle selling their home themselves. But those who can handle a FSBO sale can end up making more money from the transaction than they would have otherwise.

Paperwork and title issues

Paperwork is one of the biggest reasons homeowners hesitate to list their property themselves. Real estate involves a lot of paperwork. Then there is the need to clear title, or prove that you own the home free and clear and can transfer full title to the buyer.

Fortunately, you can hire an attorney to help with these tasks. A real estate lawyer can handle the legal aspects of your sale, and legal fees can be quite a bit less than what a realtor would charge for the same services.