Selling a home can be intimidating because there are many things to do and consider. Because of this, most sellers hire a real estate agent to make everything more convenient. However, some home sellers find realtors expensive, so they often go to the "For sale by owner" or FSBO route.

FSBO indicates that a house is being sold directly by the owner or without a third-party real estate agent or broker. This means that the owner handles the sale, from determining the market price to closing the deal.

While selling a house without a realtor may seem like a good idea, there are things that you need to consider before making a decision. Here are the advantages and disadvantages of handling the home selling process yourself.

Pros of Selling Your Home On Your Own

The main reason why homeowners want to sell their houses through FSBO is that they want to save on real estate agent commission fees. The commission for realtors is usually 5 to 6% of the agreed sale price. If you decide to handle the sale yourself, you can save a considerable amount of money and use it to pay for other things instead.

In addition, most sellers who go through FSBO usually sell their property to individuals they already know. This will hasten the process because you don't have to list it on the market and screen for potential buyers.

Another advantage of FSBO is the fact that you have more control over the entire selling process. You get to set the price, negotiate with buyers, and decide when and how to show your home. Note that this is assuming that you know what you're doing.

Cons of Selling Your Home Without a Realtor

One of the biggest drawbacks of selling your home without a realtor is the lack of expertise. A real estate agent or broker is a professional that can help you set the correct price for your home, lay out the legal documents, and negotiate properly with the buyers. Doing all these alone will be much harder, especially if it's your first time selling.

And since you're not an expert, there's a greater chance of making mistakes or exposure to legal risks. Selling a home involves a lot of legal paperwork, so it needs to be reviewed by a legal expert. You can always refer to a law firm or attorney, but you'll also need to pay for their services.

Real estate agents also have a wide connection when it comes to marketing and looking for buyers. For independent sellers with a small network, looking and screening for the right buyer will be quite challenging.

Conclusion

Selling a home without a realtor isn't really for everyone. Although you'll save more money, you'll get a higher chance of making mistakes during the process unless you're an expert in real estate. So before you decide, make sure that you've weighed the pros and cons carefully.