“I can make more money if I sell it myself…”
You may have heard this statement if you know someone who is considering selling a home. Perhaps you’ve even said it yourself. After all, it sounds good. The process, though, is more involved than it looks, and what you don’t know could affect your profit.
- BUYERS LOOKING FOR A DEAL: Many buyers who are looking at home “For Sale By Owner” (FSBOs) are looking for a deal. Sometimes these are the most difficult buyers. They immediately subtract 6% or 7% from the sales price because they know you aren’t paying a commission. They don’t want to pay either. You aren’t getting the service offered by a professional Realtor, plus, you aren’t getting the money.
- OUT-OF-TOWN-BUYERS: Out-of-town buyers typically don’t have the time to search the FSBOs for a home. They are usually on a limited schedule and need to see as many homes as possible in a short period of time. Therefore, most out-of-town buyers look to a Realtor who is a member of a national relocation service. When you consider how many people are moving to our area, this point becomes even more important.
- TIME & EXPERTISE: Do you really have the time to research the sales prices of comparable homes in your area so you can arrive at a fair price, advertise and show your home, do the buyer qualifying and negotiating, and take care of any needed compliance work, as well as follow-up with the buyer, the title company, the buyer’s lender, the appraiser and your attorney? Realtors specialize in handling the details for you.
- SECURITY: How do you know to whom you are showing your home? How can you tell if the person at your front door is qualified – or is safe to allow inside? Again, Realtors pre-qualify the buyers; they get to know him or her. In addition, the Intermountain MLS uses computerized lock boxes that keep track of which Realtor is in your home and at what time, thus enabling Realtors to show your home safely while you aren’t home, saving you not only time, but peace of mind. Realtors are subject to a code of ethics and have governing boards for grievances and disputes, as well.
