Despite the best efforts of the real estate industry to strongly warn against it, we still see the occasional "Home For Sale By Owner" sign as we travel around.
You naturally wouldn't expect any agent to agree with you if you decide to go for DIY selling. But what we thought might be more useful would be a list of the kind of things you'll miss out on by going solo.
We think the list is compelling and are pretty sure you'll agree with us when you've read through it.
So here goes:
Maximized Exposure of Your Home - To stand the best chance of achieving your home sale objectives, you need to ensure that it is promoted to the widest range of potential purchasers. Only a realtor can achieve this with access to the local MLS service that effectively transmits information about your property on a worldwide level, if necessary. Generic home search websites, and indeed other local realtor sites, all derive information about a home from what's called the IDX feed generated by MLS listings. Doing things yourself pretty well cuts off these crucial aspects of drawing attention to your home. Free ads on Craigslist and Facebook blog shop pages are extremely limited in their scope, by comparison.
Marketing Expertise - Your realtor is, at heart, an expert at marketing homes. This means that he/she knows exactly what things to highlight when listing or describing a property to potential buyers. This can be a quite sophisticated process, as different areas and price levels require their own tailored approach. Furthermore, the right realtor will run a thriving website, such as the one you're currently visiting, adding value by blogging information about listed homes and promoting them through the various social networking platforms. At Everest Peak Realty we go even further than this, using high definition professional photography and producing a professionally filmed, narrated and edited video describing properties in great detail and affording the buyer a quick walk through from the comfort of a chair. Unless you are completely familiar with all the technologies and techniques used in modern home marketing, you are unquestionably compromising by trying to do all this yourself, if that's even possible, to say nothing of the enormous amount of time it all takes!
Access to Buyer's Agents - One of the key advantages of listing your home through an agent is that doing so will facilitate distribution of your home information to all active buyer's agents in the area who, in these days of limited inventory of available homes, are likely to have a waiting list of potential buyers looking for a home just like yours!
Access to an Extensive and Relevant Contact Network - Moving on from the last point, the best realtors maintain good contact with past clients and others who can directly influence the sale of homes. Even if not interested themselves, they may be aware of friends of relatives for whom your home is the perfect fit.
Optimizing the Number of Viewings - By selling the home yourself and greatly limiting the marketing and exposure we've already described, you will in turn be greatly limiting the potential number of viewings. This makes achieving your best price that much harder, as very few viewings may mean that there are fewer people competing to buy the property.
Achieving the Very Best Price for Your Home - Other than the viewing aspect we've just explored, also remember that your realtor has up to date knowledge of the market when it comes to setting the initially advertised asking price. It's common for DIY sellers to look at the generic home pricing websites and assume that the price their home is listed for on them is an accurate price. Nothing could be further from the truth and, as this is a subject worthy of its own blog, please click here to read a previous article we wrote on the subject. When it comes to negotiating the price, your agent is again an invaluable ally, with tremendous local knowledge of recent actual sold prices and the ability to ensure that you get the very best overall deal.
Dealing Effectively With Any Problems That Arise At Inspection - Inspections commissioned by home buyers, once an offer is accepted, can sometimes reveal unknown issues with the home. These are often solved by simple corrective action, but when that isn't possible, due to time and/or cost constraints, there may be the need for some negotiation if the sale is to continue to a successful conclusion. Your agent will again be able to bring vast experience to the table and will know how to proceed to an end game that works best for you.
Experience in All Aspects of Closing The Sale - Anyone who has gone through a home purchase or sale knows just how much paperwork is generated. Inevitably, therefore, there are many opportunities for expensive banana skins as you go through a process in which you probably have zero experience. As realtors deal with closing all the time, they know all the pitfalls and will therefore be looking out for them on your behalf.
We hope these strong arguments for using an agent will have sufficiently deterred you from the attractions of self-selling. Yes it may be attractive to not have to pay commission to the agent but, as we trust that we've proved today, that commission is hard-earned and well-deserved in terms of the added value it brings to your property sale.
Why not call us today for further informal discussions on this theme.