|
|
|
14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME
Occasionally, one can see "For Sale By Owner" signs, and some
owners think that selling their own home will not only save them
money, but believe they have an advantage over the sellers that
have their home listed by a reputable Realtor©. Before you
decide to take on this very important and legally complicated
process…remember not even most Real Estate Lawyer's recommend
selling your own home yourself in today's market. Here are a few
of the reasons why:
1. You are limiting your exposure to potential buyers (less than
10% of what a good real estate broker will generate) which
theoretically means your home will take ten to fifteen times
longer to sell on the market.
2. The longer a home is on the market the lower the selling
price is. Why? Because most buyers think that if the home has
not sold after this long... there must be something wrong with
the home.
3. The selling/buying process begins AFTER the buyer leaves your
home. Most sellers think that all it takes is for someone to see
their home, fall in love with the great decor... and the offer
automatically will follow. Remember that the buying process
begins after they leave your home. If a real estate sales
representative does not represent the buyer, and they are
looking on their own…they usually leave the home and start to
talk themselves out of the buying process. If the buyer is
represented by a real estate professional Realtors© are trained
on how to overcome buyers remorse--a very common occurrence.
4. Because of the limited exposure you will very likely end up
with a lower selling price. Remember, in order to generate the
highest price possible for your home… selling means exposure.
You need the maximum exposure possible, to generate the highest
price possible.
5. Most buyers find it extremely awkward to negotiate or even to
talk directly with sellers and therefore avoid FSBO properties.
6. Lack of negotiating experience and lack of pertinent
information often will result in a lower selling price, or worse
yet, a bungled contract and possible lawsuits.
7. The majority of qualified buyers are working with experienced
real estate professionals.
8. Many serious buyers will pass by a FSBO home merely because
they recognize that it is not in the real estate mainstream,
this can some times make them wary.
9. As most local buyers now retain an experienced real estate
sales person to represent them as their buyer-agency, you will
probably be negotiating against an experienced professional.
10. Expected savings in broker's fees will also be greatly
reduced if you offer a selling commission to entice real estate
sales representatives to bring potential buyers.
11. If you are planning to use a Lawyer to help you negotiate
the offer, then your lawyer's fees will be considerably higher.
12. Only real estate sales representatives have access to the
up-to-date market information. News reports cannot approach the
timeliness or specificity available to real estate sales people.
Further, real estate sales representatives are involved in home
sales much more frequently than the average homeowner is. This
familiarity leads to a degree of expertise that provides an edge
on negotiating and successful selling.
13. You only pay the commission to the real estate broker, if
they successfully sell your home at the price you are happy
with.
14. Accepting an offer is one thing, ensuring a safe and
successful closing is quite another. Real estate transactions
usually always have problems on closing. At times, expecting the
Buyers and Sellers Lawyer's to fight it out or resolve the
problems, can sometimes mean the deal is lost. This is the time
that your experienced real estate professional, can be the most
important. Your Realtor© can act as a great mediator. Lawyers
MUST act only on their client's instructions and are not paid to
negotiate.
|
| |
| |
| |
