Sell “by owner,” or hire a gay realtor?

In today’s market, going it alone may sound like a great idea, but the business of selling a home requires a huge investment of time, money, and access to a large network of potential homebuyers.

This is where having a gay real estate agent could save you. Real estate agents will represent you throughout the process of selling your home and make it much less stressful for you. Alternatively, here’s an idea of what you are in for as an FSBO:

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You will most likely want to list your home on MLS—Multiple Listing Service, a criterion-based nationwide listing service that is only accessible by going through a licensed agent and by paying a fee. If you try to go low-finance, you will still need to list your home in the local paper, make flyers, etc.

Finances

FSBOs will need a lawyer throughout the selling process to look over numerous offers and counter-offers. Failure to negotiate and write a contract correctly could result in a breach of contract, which will cost everyone more time and money. You could even be sued for the purchase price of the home if you miss a date or a deadline.

Real estate agents are trained to handle these details and many know the legal minutiae by heart.

The other pitfalls of being an FSBO

Because you aren’t paying the commission for a realtor, most buyers will insist that you sell your home for the Fair Market Value, minus the price of the realtor’s commission.

In this market, many sellers will assume the seller’s closing costs, so you will also need to fully understand the intricacies of title issues, miscellaneous money legalities, and mortgage costs that the seller must pay.

You need to keep your emotions out of the game, too. Real estate agents are negotiation experts. When a seller comes back at you with an ‘inspection issue’ and wants another ten grand knocked off the price, you will have to keep your cool. More than that, do you know how will you answer them?

Lastly, are you ready to hold the buyer accountable to the dozens of dates, deadlines and legal issues they are required to meet? Buyers can get cold feet and may even stall ad infinitum if think they can get a better deal.

Are you ready to be your own agent?

It isn’t impossible to sell a home on your own, but you actually stand to lose money by not hiring a real estate agent. Unless you, yourself, are a real estate agent, don’t make the mistake of representing yourself in this market. Gay realtors have connections, charisma, and are skilled arbitrators—exactly the things that will put the most money in your pocket at closing.