6 Rarely Considered Things You Should Know Before Becoming A Real Estate Agent
If you’re thinking about becoming a real estate agent, you’re probably aware that you don’t make a dime until (and unless) you sell a house.
Homeowners who try to sell their house “For Sale By Owner” (FSBO) most likely don’t go the DIY route just because they relish the idea of selling their own house. They do it to save money.
It’s understandable since real estate commissions can be perceived as “too high” by some consumers. And if you can net more money by selling your own house, why not give it a shot?
Many who attempt sell on their own go into it with a few assumptions:
The problem is, it’s virtually impossible to prove any of those things are true or not, until and unless you try to sell your own house. Most people don’t sell a house that often in life, so it’s really a live and learn situation, and only once the dust has settled can they truly say whether it was worth it.
But what you can do if you’re considering selling your own house is learn from what other people have found after they sold their own house, and make a more informed decision before diving into it based upon hopes and assumptions.
So let’s look at what some recent FSBO sellers had to say about their experience…
According to a recent survey of 1,000 people who sold a home in 2022 and 2023, many owners who tried to sell their own homes had some regrets about not hiring an agent. Here are 5 key takeaways to consider:
It’s understandable that an owner might want to try and sell their own house in order to save money by not paying a commission. But what many who’ve tried to do so have found is that it actually costs them more to sell on their own, by selling their house for less than it would have with an agent, not to mention the added time, stress, and potential legal issues it can cause.
The Takeaway:
Homeowners who try to sell their own house “for sale by owner” (FSBO) often think it’ll be quick and easy, and save them a ton of money by not paying commissions. But a recent survey revealed that many owners who tried to sell their own house had regrets, including:
- On average they made $46,603 less than those who hired an agent.
- They were three times more likely to lose money.
- It took them longer to sell their house.
- 36% of them experienced legal issues.
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