12 May 2010

The Expertise of a REALTOR vs. "For Sale By Owner"

"Why do we need a real estate agent?  Let's save money and sell our home ourselves!"

For your protection....I encourage you to think again.

- Sellers who use a real estate professional make 16 percent more on the sale of their home than do sellers who go it alone. Unrepresented sellers often do not understand the complexity, range and timing of tasks they will have to perform if they don’t use a professional.

- Buyers who look for "FSBOs" usually offer 6-10% below the price of comparable properties because they know you are not paying a commission.

- There are substantial risks involved when a seller agrees to "carry back" a note from the buyer; risks that can cost you thousands of dollars.

- Your good credit rating can be ruined by your buyer's default, many months, or even years, after that buyer "assumes" your loan.

- A clever buyer can stay in possession of your property for many months after he defaults on the contract, and in effect "live for free" at your expense.

- Alleged failure to disclose such things as previous repairs, insects, exact lot lines, and the presence of certain types of mold/fungus in the property are the source of many lawsuits against sellers.

REALTORS are real estate professionals who are experts in marketing and negotiation. REALTORS can help a seller set a realistic price and ensure the proper paperwork and various disclosures and inspections are handled correctly. REALTORS know best how to prepare a home and maximize value, provide broader exposure to the market and are more likely to generate multiple bids than a seller on their own.

In addition, REALTORS are experts in attracting qualified buyers. A professional can show a home more objectively than can a seller who may be emotionally attached to the home, and who might become unnerved by prospective buyers’ critical comments. The real estate pro also checks the financial capability and bona fides of buyers before allowing them onto a seller’s property.

Experienced, professional real estate agents understand risk, and they can help you to minimize it in a variety of ways. They devote many hours to training and educational programs which emphasize risk reduction, and protecting their clients' interests.

When a problem arises in the transaction, an experienced agent can move swiftly to "nip it in the bud." Their thorough understanding of the myriad facets of modern transactions can help them to identify the real problem, and to either solve it themselves, or by calling upon resources that the typical seller simply does not have access to.

Are you, or anyone you know, looking for an experienced REALTOR to represent you?  If so, I'd love to chat.

Very sincerely,

No comments:

Post a Comment