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Should You Really Sell Your Own Home?

Considering a "For Sale by Owner?"

So, you are considering selling your home yourself. Bravo! But have you considered the following? Eighty percent of homeowners convert from selling their home themselves to hiring a Professional Real Estate Agent after just a short time.
Why is that? Home owners who attempted this find that it is much more difficult
than they first thought. Selling real estate is a process that has many layers. Here are a few questions and comments that you might want to entertain before you embark on this yourself:

How can I effectively market my home and give it maximum exposure?

Real Estate Professionals have access to listing homes on the Multiple Listing Service as well as publicly viewed sites. They also network in arenas that consist of other real estate agents. They are very adept about spreading news about a home they have listed for sale. The typical homeowner does not have access for posting or listing on these sites.

How will I make myself available to show my home?

Although, weekends seem to be a busy time for home-shoppers, in reality, the qualified buyer has arranged for his/her agent to preview a prospective home every day of the week. Agents will visit many homes during the week to see if it meets their buyers’ requirements. When attempting a FSBO, you should make your home available seven days a week. That would require someone being there to open the home. Sure, you can consider a limited viewing schedule, however, can you really afford that? How many qualified buyers will just move on to the home that is available for viewing?

How will I separate the Looky-loo from the qualified
buyer?

Real estate agents are trained to ask for the required documents and ask the tough questions that establish a buyers purchase power and ability to close the transaction. This information is a prerequisite to accepting an offer.  Although, buyers will tell the home owner they are qualified, are they really? Are they just
wasting your valuable time?

I think I have a good offer, now what?

So, you have a good offer. How was it written? Does it have the legal protection necessary to begin, maintain the process and close the deal? Does it contain the language needed to protect both parties now and in the future? Real estate professionals use contracts that were created by attorneys for the sole purpose of protection of all parties involved. Consider what I said earlier, that a real estate transaction has many layers. Obtaining an offer is only the beginning.

Can I keep it going?

Purchase Agreements, Counter Offers, Escrow Instructions,
Title Insurance, Disclosures, Amendments, Transfer Reports, Home Inspections,
Appraisals, Hazard Insurance and the list goes on. In a typical real estate
purchase there are 25-45 people involved. The truth is most of these people (as human nature will dictate) will take the path of least resistance. Do you really have the know-how and time necessary to make sure this is all happening within your best interest? Can you really afford to spend 30-120 days, or perhaps even longer, only to have it completely dissolve?  What did that cost you?

Other Considerations:

A qualified and competent real estate professional will orchestrate all of the above. That is what we do. Our function is to keep the ball in the air, keep all parties marching in the same direction.  From marketing, showings, sifting out the
unqualified buyer, obtaining the maximum amount for your home, navigating the
entire escrow process, all the way to the closing.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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