For Sale By Owner

For Sale By Owner

You’ve heard the saying, “If you want something done right, do it yourself.” Naturally, this doesn’t hold true for all things. For instance, you wouldn’t want to remodel your whole home if you don’t even own a hammer. The same holds true for selling real estate. While it might seem to be a good idea when it comes to saving some money, are you really qualified to list your home yourself? Are you ready to take on the responsibility associated with selling a home?

Before you put up that “For Sale by Owner” sign, here are some questions to consider:

  • Do you have the sales and real estate-market knowledge to sell your home?
  • Will you be able to negotiate a successful deal when working with an aggressive buyer?
  • Are you skilled enough to properly value your home and offer it at the right price for the market?
  • Do you know what factors to consider in the real estate market that affect the home’s value and how long it will take to sell?
  • Do you know how to assess if your prospective buyer will qualify for a home mortgage?
  • Are you comfortable having strangers in your home to show it to prospective buyers?
  • Do you understand what escrow entails and what steps you and your buyer need to do to stay in compliance?
  • Can you draft a sales contract that is binding and abides by real estate regulations?
  • Will you be able to manage counter offers and ensure a fair arrangement for yourself and the buyer?
  • Will you be available at any hour to answer questions about the property and show the home to prospective buyers? Even just for “lookie-loos”?
  • Do you have trusted partners to ensure a smooth transaction, including an escrow company, home warranty company, home inspector, and pest control service?
  • Do you know how to best advertise your home to the home-buying community? Will you be able to afford those advertising costs?
  • How will you handle buyers who expect you to lower the price since you’re selling the home without the help of a Realtor?
  • Do you understand the different mortgage loans that buyers may choose, as well as how they can benefit or harm you?

 

There’s a lot of work that goes into selling a home!

Working with a Realtor ensures that you don’t have to worry that you might overlook any details. Some of the benefits a Realtor can provide include:

  • On average, the final sale price of a home listed through a licensed Realtor is 16% higher than the same home sold by an owner.
  • Realtors understand market conditions and have access to information that is not available to most homeowners.
  • Realtors understand how to effectively advertise your home to achieve the best results.
  • Realtors know how to price your home for the market based both on area comps and your sales goal.
  • Realtors create demand for homes and are able to show them to prospective buyers in a way that makes them want to make an offer.
  • Realtors are experienced at screening potential buyers, eliminating those who are not qualified or just looking to get a deal.
  • Realtors are adept negotiators who can manage multiple offers and ensure sellers get the best return.
  • Since Realtors’ full-time job is helping clients buy and sell homes, they are available days, evenings, and weekends to show your home.
  • Realtors eliminate the emotional component of selling a home, providing offers to sellers in an objective manner, highlighting both pros and cons.
  • Realtors maintain errors and emissions insurance, a type of “malpractice insurance” for our industry.
  • Realtors listen to sellers’ needs and provide guidance, but in the end, you get to make the final decision.
  • Realtors know the law, and they are able to protect sellers’ rights.
  • Realtors can anticipate potential issues and are able to resolve any problems so that a successful closing is possible.

Only you know what is the best choice for you; to sell your home on your own or to use the services of a Realtor. If you have questions about how Thomas can help, please contact him at (602) 466-1846. Even if you choose to list your home yourself, you can rest easy knowing that you explored all of your options.

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