At first glance, it seems like selling your home yourself is a simple matter. Why do those REALTOR®s have to charge those pesky commission rates? You could do the work yourself. Even better, you would save money.
The reality: selling a home is a complicated process that is anything but easy. It can be time consuming and costly if you settle for less than your home is worth. In fact, national statistics indicate that only five percent of all for sale by owners (which represent about seven percent of the total market) sell without the assistance of a REALTOR®. This means that only one out of 20 results in a completed sale. Furthermore, 93% of available homes are in the hands of REALTOR®s.
When you try to sell your home yourself, you are limiting potential buyers. A serious buyer wants to look at all available property. Sometimes, a seller will price their home incorrectly. If it is too high, it could stay on the market longer than necessary. Over time, the house may become viewed as defective or a “problem.” The price may have to be reduced. You could wind up getting far less than you planned. If the price is too low, you have just wasted all your time and energy, along with valuable dollars.
For many for sale by owners, it is a familiar lament after an open house: “I got lots of people, but most were just looking.” “They wanted it for a song.” In fact, prospective buyers and bargain hunters may want a price reduction because there is no REALTOR® involved? Finding qualified buyers – someone who is ready, willing, able and excited about your home – is a challenge.
Most of the errors made when individuals try to sell their homes themselves center around the folowing areas:
- Incorrect understanding about market conditions and pricing.
- Relying on inappropriate advertising and marketing that does not generate buyers.
- Incorrect understanding of how both the home buying and home selling processes work.
- Ineffective ways to determine qualified buyers.
Why not consider a professional REALTOR®? A Realtor can save you money. That is because they have the following credentials:
- Understand market conditions and have access to the most current information.
- Will place, and pay for effective advertising in the right places, for the best results.
- Will price your home realistically, to give you the highest price.
- Will create demand for your home.
- Know how to screen potential buyers, and eliminate the bargain shoppers.
- Are experienced in negotiation.
- Are always on call, and available at all times to show your home.
- Remain objective when presenting offers and counter-offers.
- Listen to your needs, respect your opinions and allow you to make decisions.
- Understands the real estate industry, from both the buyer and seller perspective.
- Will protect your rights.
- Will handle the numerous details involved in the sale of your home.
- Can recommend a real estate lawyer to take care of your interests.
- Are experienced with resolving problems to ensure a successful closing.
- Will use their network of real estate resources to place your home before the most qualified buyers.