What to Expect When Selling Your Home Privately
Posted by Becky on 06 Aug 2008 | Tagged as: Quinte, Trish Belford, real estate, tips
If you’re considering selling your home, you’ve probably thought about trying to do it yourself. Although some FSBO’s (For Sale By Owners) sell their own homes, it’s unclear whether they actually come out ahead financially in the end. Here are a few advantages of enlisting the services of a professional Realtor:
1. Exposure: A sign on the lawn’s only visible to those who see it, so buyers aren’t going to know your home’s for sale unless they drive by. Your pool of potential buyers will be very limited whereas agents are able to expose it to the masses through the real estate board’s MLS system. It’s supply and demand – the more buyers (supply), the more demand which means more money!
2. Commission Sharing: The only reason a person would choose to sell on their own is to try and save money. Everyone knows that, including buyers, and most will expect to get a deal when buying privately as they know there’s no commission built into the price. Half of the commission typically goes to the buyer’s agent so if the buyers don’t use an agent, they’ll expect to pocket that portion for themselves.
3. Third Party Negotiator: Buying or selling a home is an emotional roller coaster so a Realtor’s help is invaluable when it comes to mediating as an impartial voice. Some buyers may be reluctant to deal directly with the seller as emotions will certainly get in the way of negotiating an offer. All it takes is one wrong remark to make a deal fall apart. Having a third party negotiator provides a much needed buffer between the buyer and seller.
4. Experience: Real estate transaction are fraught with potential problems. An agent can advise you on many matters such as legal issues and inspection questions as well as rallying prospects to try and generate multiple offers. Do -it-yourself jobs are great under certain circumstances but when it comes to your biggest asset, you may want to think twice.
5. Convenience: If you’re selling privately, you’ll have to be available to show your home to complete strangers on short notice. You’ll likely find yourself cancelling important plans only to have no one show up. This process is frustrating and time consuming as many prospects are simply not that serious, haven’t been qualified or are just plain nosy. An agent only works with qualified buyers so they don’t waste their time or compromise their personal safety.
Selling a home privately can be risky which means you’re gambling with your biggest asset. Although some FSBO’s sell their own homes, there are many advantages to having a professional represent you in this complex transaction. Real estate agents are paid on commission so it’s in their best interest to get you top dollar for your home and to provide you with exceptional service during the entire process.
Call Trish today and see what our team can do for you! 613-922-5999
Source: http://www.realestateword.com/newsletter/
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