If you are considering selling your house yourself, there are several things you need to know before you do.
Selling your house yourself, or listing it For Sale By Owner (FSBO), is a great way to cut out the middle, the real estate agent, and avoid paying up to 6% of your profit in commissions. Selling your own property isn’t as simple as it seems. Before you take on the task of selling your home yourself, it’s essential to weigh out the pros and cons.
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Advantages of Selling Your House Yourself
You’re in Control — When you sell your house yourself, you hold the reigns — you are in control. You set the schedule of open houses and showings. You decide which, if any, improvements you’ll make to your home. And don’t forget you have 100% say in the listing price. If you want to be in total control of this process, FSBO could be your best option.
Zero Commissions Paid — One of the biggest benefits of selling your property yourself is saving thousands and thousands of dollars in commissions. Oklahoma’s average real estate commission is 5.89% — half goes to the buyer’s agent, and half goes to yours. But, when your house is FSBO, you only will pay the buyer’s agent if they have one.
Insider Scoop — Another good thing about selling your own home is that you know your property better than anybody else, including a real estate agent. As prospective buyers tour your house, you’ll be able to answer any questions they have and fill them in on the details of what living in your home and neighborhood is like.
Disadvantages of Selling Your House Yourself
Lack of Experience and Market Knowledge — An agent has plenty of experience and market knowledge. It’s what you pay them for — access to their insider tips and tricks. An experienced real estate agent has a plan for selling a house, such as advertising, listing prices, and other aspects of navigating this process. They know the ins and outs of the market and how to work in the sellers’ favor, whereas you likely do not have the same skillset.
Less Access to Marketing Opportunities — Real estate agents have access to huge property listing sites. Unfortunately, when you sell your home yourself, you are not given such access. You are limited to your own social media platforms, local classifieds, word of mouth, and yard signs.
Tied Up By Other Obligations — Unless you’ve dedicated yourself to selling your property, you probably have other obligations you must attend to, like your family, work, hobbies, and looking for a new property. On the other hand, an agent is paid to give 100% of their focus to selling your house.
Forget About Selling Your House Yourself and Contact Sell Your House OKC
Selling your house yourself can feel overwhelming, and hiring an agent is expensive. Thankfully, you have other options. Sell your Oklahoma City property to Sell Your House OKC and avoid the stresses of traditional or FSBO listings. We will pay you cash for your home in its current condition — no repairs or remodels and no cleaning! Contact our team of professionals today to learn more.