PROS AND CONS OF SELLING BY OWNER IN TULSA
If you are about to embark on the process of selling your home by owner, buckle up because it may be a long ride. Even though it is the most ideal way of selling, Clever says that only 7% of people who sell by owner will have a successful sale. The rest of the 93% usually can’t make it work or just don’t have the time to wait for it to sell.
It is possible, however, to sell your home by owner, so if you really want to consider this let's talk about the pros and cons of selling your home by owner in Tulsa.
- No real estate agent fees
- Everything is done on your time
- You can the repairs or renovations that you want to make
- You set the price of the home
- Showings are on your time
- You accept the offers
These are all good reasons to want to sell your home on our own. If you sell your house by owner, you will save a lot of money on expensive repairs and realtor commissions. You will also be able to sell on your own time. You won’t have to keep your house clean all the time for random home showings, you’ll be able to work around your schedule. You’ll be able to accept the offer that you are comfortable with, and not have a stranger doing this for you.
- Fewer marketing and listings resources
- Takes months to years to sell
- Buyers won't be aware of your listing
- You may get lowball offers
- Lack of experience
- Waste time on unqualified buyers
- May have to make renovations and repairs on the home
There is more to selling a home than just staging it. If you want to sell it for the right price you will have a lot of work to do and need to have a lot of time to do it. Selling by owner means your home will need to have repairs made, and if it is an older home you may need to make some cosmetic changes. This can be time consuming and expensive.
You will also need to have your home inspected and photographed so you can list it. Most agents will do some of these things for you and they also are experienced in doing so with a professional eye for it.
- You may not sell for as much money as you hope.
You may not have to pay a real estate agent, but you will not be able to ask as high of a price for your home as you would like too. An experienced real estate agent knows how to market your home to interested buyers, price it right, and they can negotiate it based on the perks of your home.
When making your home a for sale by owner home, it can be hard trying to figure out what your home is worth not being experienced in real estate. According to Zillow, this is the number one reason why homes for sale by owner, do not sell.
- Marketing a home is hard without a network.
Another con with selling your home for sale by owner is that you will not have the proper marketing techniques. Anyone can list their home online, but marketing it is a whole new ballgame.
Having your home properly marketed ensures that your home will get recognized, and potential prospects will come flying in. Real estate agents have more resources, and places that they can list your home.
They have potential buyers they are usually working with, and can reach out to other agents who also have buyers in your area. If you are selling by owner you may not get as much traffic of people, which means you may not get as many offers. By not getting multiple offers you aren’t able to counter, and the offers that are low maybe your only option.
- You need to qualify the buyer.
If you don’t have an agent then you may run into problems finding a qualified buyer. Real estate agents will only bring buyers who are qualified to buy the home. If you are looking for a home and going through an agent they make sure you are pre-approved before showing you any homes. So as the seller that can be tremendously beneficial to ensure the sell isn’t going to fall through during the process.
Reasons For Sale By Owner Doesn’t Work
If you are selling your home for sale by owner, make sure you are aware of these problems for a successful sale. Overcoming these factors can make you aware of what to do from the beginning, and benefit you.
- Home was listed too high at the beginning
- The staging of the home wasn’t presentable
- Not able to show home when the buyer was available
- Buyers were not aware of your listing
- Buyers weren’t qualified for home
- Marketing failed to reach the qualified buyer
If you are feeling overwhelmed by trying to weigh the pros and cons of for sale by owner or going with an agent, maybe neither is right for you. So then what should you do? Don’t fret we are here to help you out.
A cash offer is great when you don’t have much time, or just don’t know if you want to go through a huge process while selling. If you would like more information on a cash buyer is visit our website and fill out the form and we will give you a call today!