As a homeowner you probably know your home better than anyone else, but with this said you may not be the best sales person for the job. You may see the dollar signs of saving by selling your home yourself.
An average $200,000 sale is related to a $12,000 commission bill in most cases. Saving at least half of this by representing yourself in a transaction and opening up a sale to a buyers’ agent may seem enticing, but is it worth it? Selling a home is often an emotional sale, the amount of time, work, sweat and tears that you put into making your house a home can often be a deal killer when you turn around to sell it. Don’t fall victim to your emotional attachment or what you think you can save. Below is a list of reasons why hiring a professional is usually your best choice.
According to the National Association of Realtor’s the average FSBO sales price in 2013 was $174,900, while the average price for a home who used an agent was $215,000, a difference of $40,100. The statistics show that hiring a Realtor can often increase your sale price from 12-18 % while you are only spending around 6% toward Realtor’s commissions, this is putting more money in your pocket overall.
- A Realtor can consult with you and give you pointers and tips on how to make your home ready for sale and appealing to more buyers. The are able to see your home from a neutral point of view and from their experiences tell you what will and won’t potentially appeal to buyers. Often they can even save you from making improvements that you may think will help your home sell better but are not as return on investment friendly as others.
- A home priced right to begin with will sell more quickly and for a higher dollar amount than homes that are overpriced that end up willing to decrease their price over time. Those high priced homes often sell months later for even less than they would have if priced right to begin with. No one knows your market better than a professional Realtor who has accurate access to data in your area and knows what is selling and what is not. Just because it says so on Zillow, doesn’t make it so. Zillow has never stepped inside your home.
- A Realtor can save you time by showing your home when you aren’t available, can respond to potential buyer inquiries, work with buyers’ agents and can obtain valuable feedback from the showings you receive to help you understand what buyers are or are not looking for and what you may be able to change to accommodate others without breaking your bank account.
- On average buyers prefer to look at homes when a seller is not present. This allows them to more freely look at things without feeling like they are imposing on a seller’s privacy. A Realtor can be present to monitor this and give buyers the freedom to open cabinets, closets and things they may be apprehensive to look at with the owner home and not get a full interpretation of what is being presented. A buyer may often feel rushed through viewing a home when the owner is present or following them around.
- Realtors have more experience marketing homes; they have access to other Realtors who work with buyers and the Valley Wide access to the Multiple Listing Service, opening up access to your potential buyers significantly more than most sellers can do on their own. Some brokerages also allow all of their agents to actively market your listing which increases the potential of exposure that you are given, social media is a huge avenue to effectively marketing a property to a multitude of people, and who better than a Realtor to have other Realtor connections which may have clients looking for just what you have.
- A Realtor can professionally negotiate the contract for you and help determine an appropriate price for your home one that meets your needs for net profit and also appeals to what a buyer is willing to pay for what you have to offer in your current market situation.
- A Realtor is also able to control a sense of urgency or determination that a seller may display when speaking with a potential buyer, they are also able to defer rejection and assist when a homeowner feels they are being insulted by an offer. In addition, a Realtor can make sure your contract is compliant and everything is done legally. No seller wants to be sued down the road because they negotiated their own offer and something fell through the cracks or was missed in the process.
Most buyers today work with a buyers’ agent to represent their interests. If you sell your home on your own, and the buyer has an agent you will be negotiating with a professional on that side and relying on your own skill to get your contract to close. You may end up selling your home for less money, but could also leave yourself open to potential legal issues unless you working with a real estate attorney in the process. Of course agents can make mistakes but they are covered by errors-and-omissions insurance.
Selling your home yourself could save you money in some cases, but the liability that comes along with it may not be worth the risk or the headache you may encounter in the process. A Realtor can open you up to a larger spectrum of potential buyers, help you negotiate a better deal, dedicate their time to your sale as this is their full time job and help keep your emotional attachment to your property from potentially ruining a sale. A Realtor can bring their professional expertise, that an average home seller may lack, and help you to avoid any transaction that may encounter financial and legal pitfalls.
In most cases you would leave it up to the professionals to fix your car, get your hair done, obtain a loan, fix your air conditioner, build a house, treat you for a medical condition, file your taxes, treat your animals and just about any other professional thing you may encounter… why not hire a professional to sell your home rather than try to do this yourself? Consider consulting with one or more Realtors before embarking on one of the most expensive transactions that you may encounter in your lifetime, by yourself.BLOG COMMENTS POWERED BY DISQUS