I UNDERSTAND why homeowners choose to attempt to sell privately because I have worked with many wonderful Clients who at one time tried to sell privately, (and truth be told I unsuccessfully attempted to sell privately once myself).
The For Sale By Owner method of selling real estate can be very exhausting and even worse - unfruitful. Many homeowners report the familiar grief after an open house: "I got lots of people, but most were just looking.” or “They wanted it for a song."
Q: Why then would some-one want to sell privately?
A: To save on commission and omit the money hungry agent!
The reality is: selling privately rarely yields a saving and YES, Real estate agents have a “bad rap” for being over-paid for their services.. I wish this were true, but it is not (and that is a whole different story)…
I can only speak for myself personally. My JOB is to provide a SERVICE, that being to MARKET and SELL your home for the most money in the shortest time possible.
AFTER 10 YEARS IN THE BUSINESS I STRONGLY BELIEVE THAT HAVING YOUR PROPERTY LISTED WITH MLS IS ONE OF THE BEST TOOLS IN SELLING A HOME.
But it does not stop there. I am NOT a Realtor who throws your listing on MLS and waits for the phone to ring, this is only the beginning of the selling procces and I am INVOLVED even after I place those glorious sold stickers on my REMAX sign.
7 Days A Week / 1 Hour Guarantee
I answer my phone. This may seem like an odd thing to state, but it's true. Most realtors use pagers and voicemail to receive inquiries from people. This method can be frustrating for the caller because they can't be sure that their message has been communicated, and they don't always get an immediate response. This is not how I operate - when you call me, you actually talk to me, and if you leave a message on my voice mail, I will return your call within an hour or less! If you text me, I will respond promptly. Bottom line is that I work hard for YOU and am always available to you and potential buyers of your home!
1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market. 2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long there must be something wrong with the home. 3. The selling/buying process begins after the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate agent does not represent the buyer, and they are looking on their own they usually leave the home and start to talk themselves out of the buying process. Realtors, though, are trained to help overcome buyer remorse. 4. Because of the limited exposure you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home selling means exposure. You need the maximum exposure possible, to generate the highest price possible. 5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties. 6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits. 7. The majority of qualified buyers are working with experienced real estate professionals. 8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can sometimes make them wary. 9. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional. 10. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate agents to bring potential buyers. 11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher. 12. Only real estate agents have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to agents. Further, real estate agents are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling. 13. You only pay the commission to the real estate broker if they successfully sell your home at the price you are happy with. 14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the buyer's and seller's lawyers to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional can be the most important. Realtors can act as a great mediators. Lawyers MUST act only on their client's instructions and are not paid to negotiate.
Before you decide to take on this very important and legally complicated process remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market. Here are a few of the reasons why the For Sale By Owner method may not be the best for you:
If you have questions, I have answers.
Call me, let's talk..
