While most of us who decide to sell our home will use a real estate
agent, some may consider selling on their own. There are many risks
& obstacles to selling your own home that you should consider before
deciding to take this route. Even as a Realtor, I would ask another
agent to represent me. This alleviates a lot of emotional aspects of
selling your own home, that can truly cloud your decision on price &
negotiating. It gives you that objective viewpoint, as well as
additional knowledge to ensure that the best price is achieved. But,
of course, what else would an agent say? So, you decide for
yourself.....Here are just a few of the most common potential
downfalls of selling your own home.
SETTING THE WRONG PRICE - In the world of real estate, setting a good
asking price is absolutely critical. Owners frequently have a
difficult time setting a realistic sales price, even if they have
paid for an independent appraisal. Impartially evaluating your home
and all it's shortcomings (and selling points) is a lot to ask. An
overpriced listing can linger on the market and necessitate later
price drops. An under priced listing can either scare off wary buyers
or can result in a closing price significantly below market value.
UNDER EXPOSURE - Attracting serious buyers requires much more than a
classified ad and a sign in the front yard. Many of the marketing
avenues that agents utilize are costly or require resources that the
average homeowner just doesn't possess. Between 75 and 80 percent of
buyers use the Internet during their home search. Savvy agents come
equipped with a strong Internet presence that draws online buyers to
your listing.
LACK OF MARKETING EXPERIENCE - Most of us are not practiced in the
art of promotion, and don't possess a great deal of knowledge or
perspective when it comes to marketing real estate. A skilled real
estate professional knows the techniques to make your home
competitive with comparable properties in the local marketplace.
BUYER WARINESS - Some buyers will avoid a FSBO listing for fear
either there is "something wrong" with the property or that the
asking price will not be based on current market trends.
BUYER HAGGLING - A FSBO listing can attract buyers out to find a
"deal". These individuals are more likely to see the listing price of
a FSBO property as merely a starting point.
FAILURE TO DISCLOSE - Failing to disclose or fully disclose any
defects in your home is huge liability for any seller. Improper
disclosure or nondisclosure usually results in lawsuits, an
unpleasant prospect for all parties. Licensed real estate agents are
required to stay up to date on all mandatory local, state and
national disclosure requirements.
COMMISSION TO BUYER'S AGENTS - Nine out of ten homebuyers use a real
estate agent in the search process. If a potential buyer is using the
services of an agent, their commission will generally be taken out of
the selling price.
LACK OF NEGOTIATING EXPERIENCE - One of the most important services
real estate agents provide is the negotiation a sale. Working without
an intermediary makes it much more difficult to keep emotion out of
the process. Sellers without representation can employ the help of a
real estate attorney, but their primary function is to ensure that
the contract is not marked by errors or omissions.
AVAILABILITY FOR SHOWINGS - With a real estate agent, you also have the luxury of placing a lockbox on your home. This will enable other agents to show your home when you are not home. You do not have to come rushing home anytime you might receive a call to see the home. Plus, anyone entering your home will have an agent with them at all times. And, if you receive a call directly from a buyer without an agent, you can have the safety of your personal agent show them your home.
Now it's up to you to decide.
