If you are trying to sell your own home, please don't be offended by the title of this section. During the Sellers' market, it was much easier to be a FSBO, and many owners still believe that this is a good way to save on the commission. We respect this opinion; but we also know that this belief can originate with a past experience. One Realtor who doesn't earn his or her commission can affect a client's view of the industry in general. Realtors who excell at what they do will always add value to a transaction and the statistics prove it. On a national level, transactions brokered by Realtors close at an average of 10% more than those without professional representation.
This information also applies to "Limited Service Agencies" that simply place your home on the MLS with little or no additional services. For those who don't mind sitting their own Open Houses or negotiating on their own behalf--this can be a possible option. It puts your home on the MLS; however, in our case, this website is only one of 20 that we regularly use for ALL of our properties. In a challenging market, the more exposure that your propertiy receives, the quicker it will sell...and usually for a higher price.
Those who choose to try to sell their own homes are never fond of this statistic; but it is true. The main reason why a Buyer will be interested in their home will be the desire to save money on the real estate commission. Unfortunately, both sides cannot benefit from the same savings, and an experienced Realtor will usually cover the cost of their commission in the negotiating stage alone.
If you choose self representation, the worst possible phrase that you can put in your advertising is "NO REALTORS". This is the equivalent to having open heart surgery...and asking all of the Doctors to please leave the room. It is very appropriate to ask Realtors not to solicit your listing and respect your choice to be a FSBO...but leaving them out of the equation completely drastically limits your exposure. It is always best to welcome responsible Realtors and advertise the fee that you will pay them in advance.
The attached list is only a partial example of some of your Realtor's activities. These tasks must be done, whether you list your home or not. If you are flying solo, don't forget the details or you risk legal and/or financial problems.
And DON"T FORGET us when you decide to change strategies and list your home. We respected your choice....and didn't try to scare you with stories about axe murderers coming to your Open House.
Electricians laugh at us when we try to run our own circuits. If you are a Dentist, the thought of a patient pulling his own teeth probably alarms you. Your home is your most important asset . We will treat it (and your trust) as if it was our own.
These are just a few items to consider when selling your home without professional representation. If you have any questions about the real estate process, feel free to call us. We're here to help.
If you prefer to contact us online...fill in the attached form and include your question. We will answer it quickly and to the best of our ability.. There is no obligation and your information will be held in strict confidence.