Why Not Sell it Myself?
Why Not Sell it Myself?
Using a Realtor® vs. FSBO
Selling your home is one of the most important financial transactions you will make in your life. Don't take risks. Selling your home is nothing like selling a car. Every home is different, and every homebuyer wants to offer you as little as possible. How do you determine the real market value? How do you answer these questions?
- "How does your home compare to others like it in your area?"
- "How did you determine the fair market value of this property?"
- "What about financing? Can you help?"
- "If I make an offer, who will draw up the paperwork?"
- "Why aren't you using a Realtor? Is there something wrong with the property?"
- "Since you aren't using a Realtor, we can take their fee right off the top, right?"
Most homes are sold using a Realtor. As a real estate professional, your agent will help you negotiate with all those buyers who want something for nothing. Not to mention providing a Comparative Market Analysis to help you price your home right, preparing your home for sale, marketing it locally and even nationally, and guiding you through the complex paperwork and pitfalls of escrow and closing. Make sure you are really ready to handle all of that before pounding that sign into your front yard. Errors can be extremely costly.
The process of guiding a home sales transaction is in reality more complex than many people realize. When qualified buyers present an offer on your home, it might seem that the deal is done, but this is only the beginning of the negotiations process. Ideally, this aspect of the transaction culminates in a meeting of the minds. At no point can the real estate agent just sit back and relax, because the "glue" that holds each transaction together is subject to a variety of factors and forces that may cause the deal to fall apart.
They can only hope that there are no surprises during the home inspections. They have to presume that the appraiser will think the house is worth as much as the buyer and seller do, but this is never guaranteed. As the buyers make their loan application, your agent crosses their fingers that the credit report reveals they always pay their bills on time.
Rarely is a transaction completed without a few problems. A real estate agent's professional skills come into play primarily during the time between contract ratification and the closing. At this point, they use their creativity, patience and negotiating skills to achieve a happy resolution to your transaction.
Remember: Buyers want to offer you as close to nothing as possible! While that "For Sale By Owner" sign might sound like a good idea, it usually means a different thing to buyers: "Try to steal this one." Let your Realtor handle the details for you and guide you through the process.