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 If you have decided that now is the time
to sell your home you might be thinking: should I hire a
realtor® or do it alone. Have you ever considered repairing your
own car? Anyone can buy the tools and parts. However, most of us
just do not have the knowledge, training, experience or the
expertise and commitment of time to do the job properly.
Besides, there are plenty of experienced professionals to do the
work for us.
If you are tempted to do it yourself and "save" the real estate
commissions this article will be of great help to you in making
your decision. Selling your home is is quite a complex
procedure, involving large sums of money, stringent legal
requirements and the real potential for very costly mistakes. It
requires a tremendous depth of knowledge and experience, as well
as substantial amount of time to follow-up on every detail
promptly and properly.
Will you really "save" the real estate commission?
Most buyers equate a "For Sale By Owner" sign with a "bargain."
They assume you will sell for a discount because you do not have
to pay the real estate commissions, and, as a result, they'll
probably offer you less than Fair Market Value. Negotiating your
price upward to regain even a part of the anticipated commission
savings will be difficult at best.
Do you have the time?
If you do it alone, how much will you really save when you
factor in the considerable time you will have to invest? Without
a Realtor's® support, you are the one who will have to write and
pay for the ads to market your property, remain available day or
night for calls from prospects, run the open houses on weekends
and show your property on short notice, screen potential buyers,
fill-out the paper work and do the dozens of things required to
sell a home. Do you really have the time for all this? And what
is your time worth - the time spent away from your family and
friends and work?
How will you reach potential buyers?
Do-it-yourselfers are faced with the problem of how to market
their home effectively. How good are you at writing hard hitting
advertisements that will stand out from all the others and
entice prospects to call you? Where should you run these ads,
when, and how often? Do you have the time and patience to handle
telephone inquiries? Are you prepared for the cost of
advertising - including a professional-looking "For Sale Sign?"
Real Estate Agents are experts in effective advertising and
cover all these costs as part of their service to you. Moreover,
when you work with a Real Estate Agent, your home receives a
far-reaching market exposure through the
Multiple Listing Service.
MLS® is a computer-based system that relays valuable information
about your home to a vast network of Realtors and potential home
buyers in your market area. Remember, the greater exposure the
greater the chances for a higher price. Also, most realtors work
for real estate companies that have their own websites or real
estate online web portals which will feature your listing; these
websites are generating thousands of visitors a day.
Do you really know the true market value of your home?
Setting a sales price is perhaps the most difficult and yet
critical step in the home-selling process. It requires extensive
knowledge and training, as well as access to sophisticated
market-analysis developed over years of experience.
Do-it-yourselfers usually lack these resources and often end up
guessing at their asking price.
If you set your asking price too high, many prospective buyers
will be frightened off without even seeing the property; too low
and you will leave thousands of dollars on the negotiating table
needlessly. One of your realtor's most important roles will be
helping YOU decide upon and negotiate a realistic asking price
for your home that meets your sales objectives.
Are you ready to "pre-screen" every prospect?
Do-it-yourselfers are faced with the challenge of interviewing
every person who responds to their ads or "For Sale Sign." How
do you go about this arduous task without offending those who
are clearly not serious or qualified buyers - and yet protect
your own interests and security? Do you have the skills and
experience to ask the right questions over the phone before you
let a prospect visit? How are you going to find out whether they
are really qualified to purchase in your home's asking price
range?
Pre-screening prospects is absolutely necessary to weed out the
"looker" from serious buyers. Your Realtor knows how to do this
effectively, saving you many hours of time and quite a few
headaches.
How are you at selling and negotiating?
Selling real estate is considerably different from selling most
other products or services. Many do-it-yourselfers attempts to
over-sell, smothering the buyer with every detail and nuance
about the property. Few understand the subtle differences
between a home's features and the potential benefits to the
buyer. Few know how to ask the right questions and uncover the
buyer's true needs and wants. Even fewer know how to complete
the sale successfully through firm, impartial negotiation.
Realtors are skilled intermediaries with considerable ability to
market your home successfully. Would you not feel a lot more
comfortable knowing an experienced realtor is on your team
negotiating the
Highest Price Possible for your home?
Are you up-to-date on real estate laws?
Remember when you bought your home and had to deal with all
these papers thrust in front of you for your signature? Well,
selling your home is equally complex from a contractual and
legal standpoint. If you attempt to sell it yourself, you will
either have to prepare all your own legal documents when an
offer comes in, or translate the language in the offer presented
from the buyer. In the excitement of receiving an offer, are you
confident you will be able to recognize terms and conditions
that are not in your best interest, or worse, are legally risky?
Realtors know how to protect you from these potential legal
pitfalls, and will work to help ensure your interests are
properly protected.
Let a Realtor® help you sell your home.
Most of those who sell their homes do so with the assistance of
Realtors®. Of those that try to do it themselves, most change
their minds and end up going with a real estate professional,
because the process is too complex, too time consuming, and too
dangerous without the help of a professional. Working with a
licensed professional to sell your home, someone who is a member
of a Real Estate Association, entitles you to an exceptionally
broad range of services and benefits unavailable to
do-it-yourselfers.
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