Why don't more homeowners choose to sell their properties independently?

Real Estate Transactions
1

I’m intrigued by this topic. Recently, I sold my parents’ house in northern New Jersey without involving a real estate agent. I only hired a real estate lawyer, paying a retainer of around $1500, who assisted me with the necessary paperwork typically managed by agents.

I did offer the buyer’s agent a 2% commission, as I recognized the importance of adhering to standard practices in such transactions.

I’m curious as to why more individuals refrain from handling the sale themselves. My family saved approximately $15,000 by not using a realtor. The current market is exceptionally competitive, with multiple offers received. I advertised the property on Zillow and organized an open house. Surprisingly, it was quite manageable; just a matter of taking photos, listing it, and managing offers.

Moreover, to preempt any suggestions that an agent could have secured a higher price, I should mention that our home sold for significantly more than most agents anticipated. Overall, I’m pleased with the results and would like to hear what others think.

2

That’s really interesting! Do you think your experience might encourage others to go the same route? How important was the role of your real estate lawyer in this process? Also, do you feel it might be different for homes in less competitive markets? Would love to hear more!

3

It’s a lot about the perceived risk. many people think selling a house is super complicated or worry about making rookie mistakes without a realtor. Plus, there’s the convenience factor, they handle everything for you. but yeah, you can def save quite a bit on commission fees! Great job on your sale!