Understanding The Risks Associated With Selling Your Home By Yourself

Posted by Steph Kaye on Monday, September 30th, 2013 at 9:28am.

Understanding The Risks Associated With Selling Your Home By Yourself

You probably seen the advertisements online and on television, advertisements telling you to save the commission and sell your home by yourself. These “for sale by owner” programs are popping up all over the country and while the concept of saving the commission may seem appealing on paper if you were to compare the risks and benefits associated with selling a property you would soon realize that the commission is well deserved for all of the work involved. We are not making empty claims, let’s look at some of the variables that are involved in a real estate transaction and where a qualified real estate agent can make a world of difference.

First rule is there is no such thing as a standard real estate transaction, each and every real estate deal carries a unique set of challenges. All experienced real estate agents know how a deal can fall apart in the blink of an eye due to various technicalities. These technicalities are not covered by the for sale by owner program. If you read over the documentation that came with the for sale by owner programs they would have buried in their fine print a disclaimer absolving them from any liability due to inaccurate or incomplete information. With a real estate agent you are protected by their errors and omissions insurance, since the real estate agent is legally liable for anything they say or do you can rest assured they will only provide you with beneficial advice.  If you sold a home on your own and made a mistake you could end up in a major lawsuit that could render you penniless so be sure to take this seriously.

With the for sale by owner program you do not have anyone committed to your success, sure you may receive some positive sounding platitudes but you are doing all of the hard work while trying to juggle family and work commitments. A professional real estate agent lives and breathes real estate so you can rest assured they are committed to getting the best possible deal for you.   The general rule of thumb is to always go to an expert instead of trying to do it yourself, you could cut your own hair if you had to but it would look awful and be a complete waste of your time same rule applies with real estate. By working with a professional real estate agent you will have a more conducive experience.

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