ON THE MARKET: Why is ‘For Sale by Owner’ such a bad idea?
Published 1:14 pm Wednesday, September 14, 2022
When you have made the decision to sell your home it can be a big decision whether going it alone to sell or hiring a professional Real Estate Agent.
Let’ face it, we all want to save money. But, that’s about all the advantage to be had. There are so many factors that come into play when putting the “For Sale by Owner” sign in your yard.
- You may be a professional in your field. But knowing a few things about property and transactions is not something you do on a daily basis. Sometimes you may get lucky, but sometimes it can lead to disaster. An agent can supply you with all the information and expertise pertaining to getting your home priced in the competitive market and getting exposure.
- Selling a home will take a lot of your time. Just getting the home ready to sell is a job. Getting the home on the market requires the right know how. You will have to create your listing on numerous websites. Do you have the expertise to take the pictures and put in the information that will attract a buyer? A Realtor will have professional looking pictures that will enhance each room in your home as well as the outside.
- Selling your home is very time consuming. Getting your home ready is a big enough challenge, you don’t need to worry about the right kind of marketing that will bring a buyer to see your home. When you represent yourself as a seller, you will have to select the right websites that people search, spend time with phone calls, and door knockers who may only be inquisitive people who have no interest or have not even been pre-approved to purchase a home. Today leaving a stranger in your home is not the best idea. A REALTOR pre-qualifies their clients before showing a home.
- In Lake Country area people want to see your home on their time, not on the seller’s time. There are many times you as the seller may be at work. A Realtor will notify you of a set time to show, that will be convenient to both parties.
- Paperwork is overwhelming. Buyer offers, counter offers, due diligence, inspection reports, lender forms, closing documents, etc. Details and deadlines can easily be missed. Much of the paperwork required is taken care of by a real estate agent who will be of assistance to a buyer throughout the transaction period.
- Liability. There is a lot of legal issues that will have to be addressed before closing on the property. Real Estate agents carry E&O Insurance which covers any potential errors or omissions that may occur. This gives you even more protection if legal problems arise.
We cannot stress enough how the Real Estate industry has changed. Years ago, there were a handful of pages involved to consummate a purchase. Today, it seems like a wheelbarrow full of pages. Are you ready to meet that challenge??
If you don’t have a real estate agent, you’re on your own to show your home, negotiate offers, and get the deal to closing. NO ONE TO CALL!!!
THOUGHT FOR THE DAY: After 35, make-up is like your American Express Card — you can’t leave home without it.
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