Pros of selling a house by owner in Philadelphia
#1 You are in Control
Almost everything below could be wrapped up into this one point. For the sake of clarity let us expand what this means a little.
#2 No one cares about your House more than you
There are thousands of phenomenal agents out there that will bend over backward for you in the house selling process. But honestly, it can be difficult getting another person on the same page with your goals, needs, and wants, right?. If an agent gets 3 offers on 3 different properties in a single day that is going to spread them thin. When selling a home by owner in Philadelphia, speed is crucial. This can be a great opportunity to seize control of your schedule.
And trying to find that phenomenal agent? Just thinking about getting involved with a lackluster agent is about as fun as a trip to the dentist.
#3 Save Money Selling Your Home by Owner
No one likes the idea of handing money over, and you can expect to pay 5-6% in realtor commissions as the seller of a home. Did you know that you are technically paying both realtors?
That’s right! It is typically on the seller to pay the commission of your listing agent and the buyer’s agent.
According to redfin.com, the average home value in Philly over the last month is at $250,000. That would equate to you paying $15,000 in realtor commissions!
$250,000 * 6% = $15,000
#4 Operate Everything on Your Schedule
Cut out the middleman.
Consider this, you have your home listed and a qualified and highly interested couple see the listing and jump at the opportunity to tour the home. Awesome! You are one step closer to getting a fast and full value sale! But hold on, your realtor had back to back showings all evening and was unable to coordinate with the buyer’s agent. The couple goes on to see other homes and falls in love with another. You missed out!
By having the property listed yourself, you can prioritize and expedite showings.
#5 You decide where, how, and when to list the property
Have you ever looked at an online listing and found missing bits of information? Ever wanted it to be easier to get more information on that home?
You are not the only one and you can bet buyers for your home are thinking the same thing. You can take this into your own hands and make sure the listing is exactly how you want it the first time.
Preparing the home, listing the home, showing the home, reviewing offers, negotiating offers, and closing can all be faster when you have control every step of the way. By eliminating the middleman you can expedite each step and be as flexible as your schedule allows.
Now we have a nice list of the benefits of selling a house by owner. Now you may be thinking, “These benefits all sound terrific! I am going at it on my own!”
I love the enthusiasm and drive but slow down for just a second. I would be remiss if I did not highlight some of the cons as well.