It’s natural to question the path we’ve chosen, especially when faced with obstacles. Two common reasons people consider selling their own home are to avoid paying commissions or because there’s not enough equity in the property.
However, it’s important to recognize that real estate is a complex and costly business, and mistakes can have serious consequences, even landing you in court and potentially losing everything. In California, there are three options for selling property on behalf of another: a lawyer, a licensed real estate agent, or selling it yourself. Each option comes with its own set of risks and considerations.
Choosing the right approach will depend largely on your risk tolerance and comfort level with the intricacies of real estate transactions. While selling your own home may seem like a way to save on commissions, it’s essential to weigh the potential risks and pitfalls against the perceived benefits. Working with a licensed real estate agent can provide valuable expertise and guidance, reducing the likelihood of costly mistakes and legal issues and possible loss of the property and its equity down the line.