For Sale By Owner?
1. Over 90% of For Sale By Owners end up working with a Realtor.
2. There are too many liabilities to sell on your own.
3. For Sale By Owners don’t usually price correctly. If you overprice by 5%, you can lose 80%+ of the buyers. However, these are estimates assuming you work with a Realtor. However, if you try to sell by owner, you will get less exposure.
4. Chances are that you will attract investors who want to get a deal.
5. You will not be able to market or expose your home like a good Realtor would. Because of the lack of exposure For Sale By Owners get, their houses usually sit on the market longer and end up selling for less, even after saving 2 or 3% on the commission.
6. Realtors don’t like to bring buyers to houses which are For Sale By Owner because they will end up doing twice the amount of work and get half the commission, since they will have to explain everything to the owner as well, who they aren’t representing. Also, there are too many liabilities when dealing with For Sale By Owners. Remember, you still have to pay the buyer’s agent a commission, assuming they work for a real estate brokerage.
7. Realtors work with other Realtors or Real Estate Agents at their office. If they represent you, they’ll talk to others in their office and in the field. This will help get the word out to the right people, about your home.
According to Thomas M. Stevens, President of National Association of Realtors for 2006, “Finally, the plain fact is that hiring a professional pays off. The typical home represented by a professional last year sold for 16 percent more than those sold without a professional’s help. That profit more than pays for the agent’s commission. Millions of homeowners know it, and that’s why they will continue to call on experienced real estate professionals”.
So why deter Realtors, attract mainly investors, restrict your marketing? Chances are that your home will be represented much more professionaly by a Realtor, not to mention it will save you a lot of headaches.
Remember there’s a difference between a Realtor and a Real Estate Agent and make sure you work with someone who’s doing it full time. Make sure you speak to a Realtor. If you need to be referred to a highly qualified one, go to ReferredPro.com
Tags: for sale by owner, FSBO, Real Estate, selling
