Last Updated on January, 2025
If you’re thinking about selling your home, you’re likely wondering:
“Should I hire a real estate agent or go it alone?”
This is a common question for homeowners, and both options have their pros and cons. Let’s dive into each side so you can decide what’s best for your unique situation.
Quick Summary
- Realtors offer higher sale prices, faster sales, local market expertise, and skilled negotiation, while handling legalities, marketing, and time-consuming tasks. However, their commission costs and binding contracts can be drawbacks.
- Selling on your own eliminates commission fees, gives you full control, and allows for direct communication with buyers. However, it often results in lower sale prices, is time-consuming, and increases legal risks and marketing challenges.
- Choosing between a realtor and FSBO depends on your priorities – whether it’s maximizing convenience and sale price or saving on commission and having full control. Each option has trade-offs suited to different goals and circumstances.
Pros of Selling With a Real Estate Agent
1. Higher Sale Prices
One big reason homeowners go with a real estate agent? The potential for more money. Studies from the National Association of Realtors (NAR) show that homes sold through agents typically fetch higher prices, around $280,000 compared to $200,000 for properties sold by owners.
For those looking to maximize their home sale, this is a significant advantage.
2. Faster Sales
In addition to more money, hiring an agent often means selling faster. Agent-sold homes average about three weeks on the market, while FSBO (For Sale by Owner) homes can sit around for eight weeks.
Real estate agents have networks and strategies to attract buyers faster, a clear win if speed matters to you.
3. Local Market Knowledge
An experienced real estate agent brings valuable knowledge about local market conditions, property values, and neighborhood trends. They can help you set a competitive asking price that’s more likely to pull in offers.
This expertise is especially helpful if you’re unfamiliar with the ins and outs of your local market.
4. Skilled Negotiators
Negotiating can be one of the trickiest parts of any real estate transaction. Real estate professionals are skilled negotiators who know how to secure the best price for your home.
They handle bargaining with potential buyers on your behalf, working to get you the most favorable terms and protecting your interests.
5. Time Savings and Convenience
Selling a house is a lot of work. A listing agent takes on the heavy lifting, coordinating showings, handling paperwork, and responding to inquiries from buyers and other agents.
By letting a professional manage these time-consuming tasks, you’re free to focus on other priorities.
6. Legal and Ethical Standards
Real estate agents are licensed professionals bound by a strict code of ethics. They have a fiduciary duty to prioritize your interests, which gives you peace of mind throughout the process.
A real estate agent also ensures you’re legally protected, handling contracts, disclosures, and any necessary real estate attorney consultations.
7. Enhanced Marketing and Visibility
Real estate agents don’t just rely on yard signs—they list your property on the MLS, real estate websites, and use social media to attract buyers.
By maximizing your home’s exposure, agents increase the chances of a quicker sale and higher offers. Without this reach, an FSBO sale might not gain the same traction with buyers.
Cons of Selling With a Real Estate Agent
1. Commission Costs
The most talked-about drawback? The cost. Real estate agents usually take a percentage of the sale price, typically between 5% and 7%.
This can be a substantial amount, especially if you’re selling a high-value property. If you’re looking to save money, the idea of paying commission can be a sticking point.
2. Finding the Right Agent
Choosing the right real estate agent is key, and not all agents offer the same expertise or experience. You’ll want to do your own research, ask around, and maybe interview a few agents to find the best fit.
Remember, a great agent can be a game-changer, but a less-than-great one can add stress to the sales process.
3. Binding Contracts and Commitments
When you hire a real estate professional, you sign a listing agreement that legally binds you to work with that agent for a set period. If things don’t go as planned or you’re unhappy with the level of service, breaking the contract may be challenging.
It’s an important detail to keep in mind before committing.
4. Another Party in the Process
With real estate transactions, adding another party, like an agent, can complicate things. You’ll be communicating with the agent, the buyer’s agent, inspectors, and potential buyers, among others.
While agents are there to handle this, it can feel like more people are involved in what’s already a personal and significant decision.
5. Potential for Misaligned Interests
While agents are ethically bound to serve your best interests, some may push for a quicker sale over holding out for the absolute best price. If your priority is getting the best possible prices, communicate that clearly to avoid any misalignment of goals.
Pros of Selling on Your Own (FSBO)
If you’re thinking, “Do I really need an agent?” you’re not alone. Here are the perks of going to FSBO.
1. No Commission Fees
Without an agent, you keep the full sale price—no commissions, no extra fees. This is often the biggest draw for FSBO sellers, as it can save you thousands of dollars that would otherwise go to a listing agent.
2. Full Control Over the Process
Selling your home by owner means you’re in charge of every decision, from the listing price to marketing. If you like the idea of running the show and have the time to manage the work involved, FSBO gives you complete control over the sale.
3. Direct Communication With Buyers
With FSBO, you’re the main point of contact. You can screen potential buyers directly, answer questions, and schedule showings on your own terms. Some sellers find this direct line with homebuyers more personal and rewarding.
4. Flexibility With Pricing Strategy
As an FSBO seller, you can set your list price without outside influence. This flexibility is appealing to many homeowners who feel confident in their market knowledge. You can also adjust the price based on feedback without needing to consult a real estate professional.
Cons of Selling on Your Own
Going FSBO isn’t without its own challenges. Here’s what to consider.
1. Lower Sale Prices
Homes sold by owners tend to bring in lower prices than agent-listed properties. Without the professional marketing, network, and negotiating skills of a realtor, you could end up settling for less. The “cost savings” might actually result in a lower net gain overall.
2. It’s Time-Consuming
Handling every step of a real estate transaction takes time. FSBO sellers often find themselves stretched thin, managing inquiries, scheduling showings, and navigating paperwork.
If you’re already balancing a full workload or family commitments, this added responsibility can feel overwhelming.
3. Increased Legal Risks
Real estate transactions come with a fair share of legalities. Without an agent’s guidance, you’re responsible for compliance with state and local real estate laws, disclosures, and more.
Many FSBO sellers end up hiring a real estate attorney anyway to avoid legal missteps, adding to the cost and complexity.
4. Limited Marketing Reach
While FSBO sellers can advertise on some websites, they don’t have access to the MLS, which is the primary tool realtors use to reach buyers. This limits your home’s visibility in the market. Without the MLS listing, your property may not attract the same level of interest.
5. Negotiating Can Be Tough
If you’re not confident in your negotiating skills, FSBO might be challenging. Buyers often expect to negotiate more aggressively with FSBO sellers, assuming they have more room to drop the price.
Without the expertise of an agent, you may feel pressure to compromise.
Useful guides:
Key Takeaways
Choosing between selling via a realtor and going FSBO depends on your personal goals, time, and comfort with handling a transaction yourself.
If you’re looking for top-dollar, faster sales, and want a professional to manage the workload, hiring a real estate broker might make the most sense.
On the other hand, if you’re keen to save on commission and willing to put in the effort, FSBO offers complete control over the sale.
If you’re in Tulsa and ready to skip the hassle, consider reaching out to us at Sell My House Fast Tulsa. We buy houses for cash, saving you from commissions, paperwork, and lengthy negotiations. Ready to sell? Give us a call, and let’s make it happen!
In the end, selling a house is about what feels right for you. Weigh these pros and cons, think through your options, and choose what makes the most sense for your life and goals.
