You may have noticed some signs starting to pop up in yards this spring; they are red and white with a hand written phone number, usually hard to read, written on each side. That’s right, those for sale by owner signs really hit the market come spring and summer because sellers know it is the best time of the year to put their home on the market and they also believe they can do it without the help of an experienced agent.
Now, I can understand why sellers would want to try and sell their properties by themselves, the main reason being they don’t have to pay commissions out to an agent, meaning they would save money right? Well I hate to tell sellers this but research shows that houses sold by their owner often sell for 5.5% less them comparable properties sold with an agent posted in the MLS. Agents bring a lot to the table, a lot of behind-the-scenes work that many sellers have no idea about and that is why it is imperative to hire a good realtor to represent you when putting your home on the market.
Here are a few reasons you should hire a realtor instead of attempting to sell your property yourself:
Time – We all understand that time is the most valuable thing you possess and realtors know that better then anyone. If a seller say is out of town for a week and an out of town buyer wants to put an offer on the house but only has a day to do so, how would a seller handle that without help? Realtors have teams and co-agents for a reason. They also respond to emails and phone calls in a timely manner.
Knowledge – Realtors went to school for a reason, to possess every piece of knowledge they could about real estate. Most sellers don’t know the depths of the laws and contracts that could land them in some hot water.
Marketing – Realtors have a budget for marketing their clients homes, do sellers want to pay a large amount of money to have fliers, signs, etc. made? Probably not, but an experienced realtor will have that put in place the minute they represent the seller.
Presentation – Many sellers think their home is “showing worthy” but 80% of the time, there are changes that need to be made and updates before a house is market ready, realtors are the people to help see those changes and make recommendations.
Negotiations and transactions – Negotiating is a lot of a realtor’s jobs, many of us have been trained to handle every type of situation thrown at us. Sellers have no idea the behind-the-scenes talks that go on between a selling agent and buying agent. Without the experience of this and the understanding of the contracts and keeping them in order, a seller could easily lose a deal.
Inspection and getting to closing – The inspection might be the most stressful part of any real estate deal; it can make or break the deal and leaves both the sellers and buyers on edge. Is the seller prepared to fix whatever the buyer asks for? Does the seller have a highly-skilled team of handymen etc. to make corrections? Most sellers do not have the connections to do this while realtors have a black book full of help for any type of problem. Then, handling closing. It is more then just a few signatures and a realtor can guide a seller through the process making it a smooth transaction.
If you are thinking of selling your house by yourself this year, I highly recommend giving it a second thought and to sit down with an experienced realtor like myself to see what I can offer to help you get the best price for your home and make it as easy a transaction as possible!