Are you thinking of selling your Tampa home without an agent? It’s certainly possible, and many homeowners sell their homes this way. Going solo can be a tempting alternative to hiring a real estate agent, who will charges a hefty commission for their work, which chips away at your profits. So, why not try to save some money by selling your home yourself? Real estate agents in Tampa, Florida, will tell you the Tampa market offers substantial risk for homeowners considering FSBO’s (For Sale By Owner). Before putting out that “For Sale” sign, it’s important to consider some of the following risks.
Exposure
When you hire a real estate agent, their fee includes access to a huge market of potential buyers. Tampa real estate agents sell homes by networking with other agents and their clients. They’ll put together an attractive ad for your home and post it on the Multiple Listing Service or MLS, which reaches thousands of buyers. When you go it alone, you can put together your own ad and post it on FSBO listing sites, but traffic will be far less. You’re the only person selling your house, and you’ll work harder to get even a fraction of the traffic available to a well-connected agent.
Legal Hazards
Selling a home includes many legal requirements, which means a great deal of paperwork and frustration for homeowners. Sometimes, sellers fail to follow the law without even being aware of it. Disclosure requirements are often the biggest pitfall for homeowners—requirements for sellers involving disclosure of any property defects. Failing to disclose defects or hazards properly could lead to a prosecutable offense, not to mention an angry buyer. Real estate agents know the laws and help homeowners avoid any legal issues, which may jeopardize the sale of a home.
Screening and Security
Home sellers without agents may find themselves showing their home to potential “buyers” who are more curious than interested in buying. Homeowners don’t have a way to properly screen everybody walking into an open house and may spend hours with unqualified buyers. They may entertain offers from buyers, only to find out they weren’t ever qualified to make an offer. Tampa real estate agents will pre-screen all buyers and escort only qualified buyers to viewings. Because agents don’t earn their fee until they’ve sold the home, they work hard to make sure everyone is a qualified and pre-approved buyer first.
Negotiation and Pricing
Getting the feel for the housing market in Tampa can be more difficult than homeowners expect. Most home sellers without agents will be underprepared to deal with sales negotiations, renegotiations, offers and counteroffers. Sometimes, they place a higher value on their home than it’s worth due to emotional attachment, thus failing to attract buyers. Or, they may price too low, not knowing where the market stands or how to negotiate effectively under pressure from a buyer. Tampa real estate agents have their finger on the pulse of the Tampa market and know exactly how to price your home to make sure it sells quickly and for a profit! Because their profit is directly linked to yours, they make sure you get the best offer for your home.
Many times, homeowners think they’ll save money by going it alone. However, due to the substantial risks associated with FSBO, many sellers eventually realize they can’t afford not to hire a real estate agent. When deciding whether to list your home, make sure to weigh all the pros and cons, including time, money and potential risks, before making a decision.
If you are looking to put your home on the market in the Tampa area, contact Tampa Bay Realty and Investment Group. Don’t brave the road alone — call today!
