Selling your Frisco area home involves more than snapping a few photos, putting a sign in the front yard, and posting the listing online.

When it comes time to sell, homeowners have essentially 3 different options;

1. Sell your home FSBO (For Sale By Owner)

2. Sell your home for an instant cash offer (think OpenDoor, Knock, etc.)

3. Sell your home utilizing the services of a real estate agent

In this blog post, I’m going to provide an overview, along with some of the pros and cons of each option.

For Sale By Owner

Let’s be honest, the main reason a homeowner will sell their home on their own is to avoid paying a commission. The belief is that you, the homeowner, will walk away with more money in your pocket in the end. While there are circumstances where this can be true and certain situations where it makes sense, oftentimes it doesn’t necessarily work out that way.

The Profile of Home Buyers and Sellers from the National Association of Realtors, which surveyed homeowners who had recently sold their own homes, asked what the biggest challenges and difficulties faced during the process were. Preparing their home for sale, pricing it correctly, and properly managing the required paperwork were three common answers.

Making mistakes in these areas can end up costing you thousands of dollars and potentially make you liable for items down the road if not disclosed properly.

If you’ve been considering selling your home on your own, give me a call as I’d be happy to provide you with useful tips and information to help you with the process. No cost or obligation.

Instant Cash Offer

Instant cash offers have risen in popularity over the years. While the idea of getting a cash offer, closing when you are ready, not having to prepare for or deal with showings, and having control over the timeline, the convenience does come at a cost.

Zillow found out the hard way there are pitfalls to this business model. By overpaying for homes while the market was booming, billions of dollars were lost as the market shifted leaving ZIllow with thousands of overpriced properties on their balance sheet, They eventually sold the properties in bulk at a loss and left the business.

The remaining players have become more cautious as a result and want to make sure they don’t overpay. The cash offers homeowners receive on the surface often look good, but when you read the fine print you’ll often find that once deductions for service fees and repairs are made, the net offer is substantially less than the true market value.

Utilize a Real Estate Agent

While there are times when either of the above options might be the best solution, the invaluable support, and knowledge a real estate professional can provide makes the most sense when it comes time to sell your most valuable asset.

Here are four ways a real estate professional can help you maximize the sales price, and thus the net proceeds, when selling your home.

1) Marketing and Exposure

In order to maximize your sales price you need to target your property to as many likely qualified buyers as possible. If you own a starter home there is no point in targeting your advertising to growing families for instance. Real estate agents have access to professional designers that can help prepare your home for sale and make sure it’s presented in the best light, along with a network of professional photographers, and digital marketing companies to make sure your property receives maximum exposure.

2) Managing Liability and Legal Considerations

Understanding what needs to be disclosed and how it needs to be disclosed is essential to keeping you out of legal trouble. Real estate agents, and their brokers, offer a level of protection by making sure the correct contracts are used, required disclosures are made, and regulations are adhered to.

3) Negotiation and Contracts

Negotiating the terms of a sale, especially when emotions are involved, can be challenging. Real estate agents are well-versed in contracts and local market conditions which can help you negotiate the best possible outcome. By not being emotionally attached, your agent can often act as a voice of reason and help you remain focused on your objective when there are multiple parties involved including:

• The buyer, who wants the best possible deal.

• The buyer’s agent, who will use their expertise to advocate for the buyer.

• The home inspection company, who works for the buyer.

• The home appraiser, who assesses the property’s value on behalf of the buyer’s lender.

Rather than dealing with these parties alone, your agent will act as an intermediary protecting your best interests at all times.

4) Pricing and Local Market Knowledge

Pricing your home correctly is crucial when it comes to selling your home for the highest possible price in the shortest amount of time. A real estate professional will have an in-depth knowledge of local market trends, recent sales data, and current buyer demand.

Underpricing, or overpricing your home can lead to increased time on the market, selling for less, or leaving money on the table.

Bottom Line

While the idea of selling your home on your own can be appealing and might be the right solution for some, the vast majority of sellers find that working with an agent not only saves time and maximizes net proceeds, there is a lot less stress as well.

Which home-selling option is right for you? Schedule a Call and let’s talk about it. I’d be happy to share insights based on your specific information to help you make the best decision for you and your family.

Want to find out how much equity you have in your current home? Click Here to use my instant, online, home equity analysis tool.