Should you hire a broker when selling a house? Going the ‘for sale by owner’ (FSBO) route can save you money. It can also cost you a lot of time and hassle — and you may not get the best price. So, is selling on your own ever the right approach?

7 Reasons Why You Should Hire a Broker When Selling a House

1. Realtors Don’t Favor FSBO Properties

In the case of For Sale By Owner properties, the buyers’ agents know that they don’t have people from the same profession on the other side of the transaction. So, even if homebuyers insist on checking the properties, buyers’ agents may discourage them from initiating the offer. They cite the risks of finalizing the deal without a real estate broker representing the seller.

Here’s a list of the most difficult tasks for FSBO sellers:

• Understanding and completing paperwork
• Getting the right price
• Preparing the home for sale
• Selling within a planned period
• Sparing sufficient time to oversee all aspects of the sale

2. Selling a Home is a Full-Time Job

Can you leave work and rush back home every time you have a prospective buyer at your door? Are you available to answer the phone every time a prospective buyer calls? After a hectic day at work, can you dedicate hours to giving potential homebuyers a tour of your home?

The answer to all these questions is probably a big “no.” But, for a real estate broker, the answer to these questions is a big “yes” — and they’ll do it with a smile on their face, when and how you want them to.

3. Brokers Are More Practical While Selling a Home

While selling your home can be an emotional experience, you cannot let your feelings affect a deal with prospective homebuyers. Having a broker means you are less likely to make emotional decisions (e.g., overestimating the selling price or giving in too easily when you have an interested buyer). Real estate brokers follow-up without coming across as desperate or too eager to sell a home. That’s their art.

4. Brokers Can Quickly Identify Unqualified Buyers

Real estate brokers have an eye for unqualified buyers. They can instantly find out whether someone simply wants to see your home or if they have come to see it with the intention of buying it.

Realtors are trained to ask questions that can help them determine the intention, motivation, seriousness, and qualification of prospective buyers.

5. Brokers Have Large Networks

Even though you can list your home on Craigslist, Redfin, and Zillow, don’t think that is all that it takes to stir up interest in your home.  

Real estate brokers typically have databases of prospective buyers — and the marketing power to get out in front of them. They can spread the word about your home faster and get you a large pool of prospective buyers, speeding up the home selling process.

6. Brokers Have Impressive Price Negotiation Skills

Do you have sales experience? That’s great, but unless you’ve sold residential real estate, you’re in for a completely different experience. If you’re considering selling your home on your own, remember that the buyer’s real estate agent may have negotiation skills that you lack. Hiring a broker with excellent negotiation skills on your side is key in getting the right price for your home.

7. You Can Get Exposed to Legal Risks

Selling your home comes with a lot of legal documentation and formalities. One of the most critical documents is the ‘seller’s disclosure.’ If a seller fails to disclose any facts that affect the desirability or value of the property, the seller can be held liable for breach of contract, fraud, or negligence.

Real estate brokers typically know a lot about disclosure laws and other legalities around selling a home.

According to the 2018 National Association of REALTORS Profile of Home Buyers and Sellers, a typical FSBO home sold for $200,000 compared to $265,500 for agent-assisted home sales. So unless you’re not interested in selling your home for the best price, and you have the time and energy to navigate through unknown waters, your best bet is to work with a broker.