Selling your home can cause more pain than having a tooth pulled. And it takes longer. And there’s no anesthesia. So do you really need a realtor to help sell your house?
Certainly, a Realtor can help you with the home-selling process, but a lot of the work to prepare your house for potential buyers will fall in your lap. Getting the carpet shampooed. Arranging for repairs. Keeping the place spotless. The list goes on and on.
Once your home goes on the market, you must wait (and wait) for the right buyer to come along. Once an offer comes in, you have to negotiate and re-negotiate — the price, the repairs, the move-in and move-out dates — till both sides are satisfied.
The traditional home-selling process sounds like an enormous investment of your time, energy and money, doesn’t it?
In this guide, we’ll walk you through the ugly truth about selling your home the traditional way. Read this before choosing a Realtor to sell your home. When you see the costs, time investment and hassles involved, you’ll wonder why anyone is still selling a house the old-fashioned way.
Drawbacks of the Traditional Home-Selling Process
When selling your home, you definitely want the buyer to pay the highest price possible. But it doesn’t necessarily work that way.
1. Sale Price
According to a report from the National Association of Realtors, 32% of sellers had to reduce the asking price at least one time.
Overall, the final sale price of a home was a median of 98% of the final listing price. In other words, owners typically come up short by at least a few thousand dollars, and at what cost to their sanity?
Just check out the numbers. They don’t lie! The median sale price means half of the homes sold were above that price and half of the homes sold were below that price. As explained by one Realtor, if five homes sold for $175,000, $200,000, $250,000, $350,000 and $600,000 each, the median price falls in the middle ($250,000).
Keep in mind that the median home price isn’t the same as average home price.
2. Time on the Market
Aside from the likelihood that you’ll get less for your home than what you initially were asking, you’ll have to spend a while keeping your home in tip-top shape in case a prospective buyer wants to drop by — in the morning, the afternoon or the evening.
So, how long do you have to put up with ensuring your home is picture-perfect every minute of every day? The 2017 report from the National Association of Realtors shows the median time on the market for a home is four weeks. That’s 672 hours of keeping your place staged and spotless!
Don’t you have better things to do with your time than wait for a Realtor to sell your house?
3. Repair Bills
And now we turn to what it costs to sell a home.
Chances are, your home will require some cosmetic surgery or even some major reconstructive surgery before it hits the market.
Need a new roof? On average, that’ll set you back close to $21,000, reports Remodeling.
Could the master bathroom use a makeover? That’s another $19,000 or so.
What about new siding? Another $15,000.
And you can’t overlook landscaping since curb appeal is so important when would-be buyers are eyeing your home. The average landscaping project costs nearly $3,300, says HomeAdvisor.
For those four projects alone, you’re looking at having to come up with more than $53,000. Unless you’ve got a bucket of cash sitting around your house, you’ll likely have to take out a loan to pay those repair bills or put those bills on a credit card or two (or three). Sometimes it’s better to sell a damaged house as-is.
That’s exactly how one HomeGo home seller felt after she lost her daughter. The funds to make repairs just weren’t there and they never would be.
“My daughter had passed away a little over a year and a half ago. I had a three bedroom for just me and my dog, and I didn’t have the money to keep it up like I should have. Her salary was gone, so I just decided to sell it and get an apartment.
I knew that if I went through a real estate agent, I’d probably have to do a lot of work on the house, and I didn’t have the money for that.”
4. Fees, Fees, and More Fees
Let’s not forget the Realtor’s cut of the sale price. Typically, a Realtor charges a commission fee that adds up to about 6% of the sale price, notes Realtor.com. For a house that sells for $300,000, the Realtor’s share would be $18,000. That’s not to mention transaction fees, closing fees, and other extra charges. You could lose a significant portion of your bank account if you try and sell your home the traditional way.
The Easy Alternative to Hiring a Traditional Realtor to Sell Your Home
When selling your home, the process can be nerve-wracking. You’re hoping for convenience, speed, and certainty. Unfortunately, you’ll probably miss out on all three of those if you choose a Realtor to sell your home and go the traditional route.
Now, you could skip the Realtor and go the “for sale by owner” route. But that’s even worse than hiring a Realtor since you have absolutely no professional help at all.
By relying on HomeGo to sell your home, you’ll enjoy that professional help, along with the convenience, speed and certainly that you’re looking for — without hiring a Realtor to sell your home and without going solo.
We reduce the mystery and anxiety involved with the traditional way of selling a home by providing the transparency and ease you won’t find elsewhere. When you want to sell your home quickly, fairly, and without stress, you want HomeGo.
Let HomeGo do the home-selling drudgery for you to save both time and money.