For Sale By Owner
In today's market, many homeowners have considered "going it alone" and selling their homes without the help of a REALTOR® to "save the commission." For those with the skills, the time and the patience this can be a viable option. Here are a few things to consider before "going it alone".
Will you really “save” the real estate commission?
When buyers see a home for sale ‘by the owner’, they see a bargain. They imagine the REALTORS® fee or at least a big chunk of it, fee going into their pocket, not yours. They expect to buy your property below market value because they know you can "afford" it.
Are you familiar with real estate law?
Complicated and ever changing, real estate law governs nearly every phase of selling your home. One mis-step, and an entire deal can fall through, or worse, a lawsuit can come your way.
How many potential buyers will you reach?
Selling a home takes more than just hanging a “For Sale” sign. How will you promote your home? Will you write your own ads? How will you use the Internet, knowing that you’ll have no access to the Multiple Listing Service®? By listing your house on the MLS your property will be exposed to hundreds of Realtors® who are working with thousands of clients. The end result is your property will sell faster and in all likelihood for more money.
Do you have the time?
Promoting a home is a full time job, and you may already have one. Will you be able to take calls at any time? How about screening the callers to figure out if they’re qualified to buy your home? Not everybody who calls is even suitable to walk through your home, but how do you tell?
Do you know the market well enough to get the most for your home?
Lacking years of experience, the average do-it-yourselfer is merely guessing at their listing price. Often they set the price too low and miss out on thousands of dollars, or they price their home too high and drive away willing buyers.
What about your selling skills?
If the personalities of prospective buyers rub you the wrong way, can you still deal with them effectively? What about your own defensiveness when you hear negative comments about your home? Best to keep it at arms length through a REALTOR®.
Do you have the negotiation skills to keep a deal on track?
When an offer comes in, emotions can run high with so much money on the line. This is why direct seller-to-buyer deals often end in disaster. REALTORS® keep it professional and are indispensable when it comes to bargaining with buyers. Many things can go wrong between "offer and closing". A Realtors has the skills and resources to get the deal to closing.