While driving around town, there’s a good chance that you’ve seen a black and orange “For Sale by Owner” sign outside a local home. 

It may not seem that difficult to sell your own home — especially with the recent competitive real estate market — it’s really not a good idea to do so.

Not using a real estate agent when you sell your home may save you a bit of money on Realtor commission fees, but it can cost you thousands of dollars in opportunity costs, failed negotiations and legal issues. Whether you’re selling your house or buying one, you really should find a good real estate professional to work with you. Here are just a few of the reasons why using an agent is the smart financial move on both sides of your transaction:

Real estate agents can help price your home to sell. You may look at homes in your neighborhood for an idea of what price your home should sell at, but there’s a lot more that goes into pricing a home correctly for the local market. A real estate agent has a lot of resources and experience that can determine what a truly fair asking price is for your home. Your real estate agent should have no emotional attachment to your home, and that will allow them to guide you in setting a smart price that makes sense for the real estate market in your area and helps you sell your home quickly.

Real estate agents have resources! Many real estate agents can offer their sellers services that will help your home sell quickly at no additional cost. This might include having a professional real estate photographer take photos of your home, having an interior decorator “stage” your home and much more. For buyers, real estate agents have connections to really good home inspectors and repair people who are reliable and fairly priced. In addition, a Realtor is the only person who can get your home on the Multiple Listing Service, which is a critical real estate search engine for potential buyers.

Real estate agents have time and training. Selling or buying a home is a time-consuming process. There are all the open houses, inspections, negotiations and paperwork to get through before you can close. In addition, each state has a different set of rules and regulations about buying and selling that are designed to protect all consumers. Because this is your real estate agent’s job, they have the time to handle all of those things for you and the expertise you may not have yourself. In addition, real estate professionals have specific training in negotiations. Truly, one of the hardest, most stressful and most important parts of selling or buying a home is negotiating! A good real estate agent will tackle this for you, ensuring that you are protected against losses and overly-emotional decisions that you’ll regret later.

CommonWealth One can, of course, offer you a competitive mortgage if you’re buying a home, or offer you financial advice on investing the profits from a home sale if you’re downsizing. But in addition to that, CommonWealth One has a great program for members called HomeAdvantage*.

HomeAdvantage gives you access to trusted local real estate agents who will help you with your search and the buying or selling process from start to finish. Plus, when you use a HomeAdvantage agent or broker, you will receive a cash rebate when you close on a home!

No matter where you are in your life, CommonWealth One is here for you with resources, education and ways to save money. If you have questions, request a complimentary one-on-one with our Member Advantage Mortgage Loan Officer Carolyn Stein. She would be happy to answer your questions and discuss options for your unique situation.

Best wishes for a successful real estate journey!

*HomeAdvantage is available to you through your credit union membership. Cash Rewards are available to members who register to use HomeAdvantage and who use a real estate agent in the HomeAdvantage network to buy or sell their home. Using the credit union for a mortgage is not a requirement to earn Cash Rewards. Cash Rewards amounts are dependent on the commissions paid to the agent. The credit union may have specific rules on how Cash Rewards will be paid. Cash Rewards are void where prohibited by law.