FOR SALE BY OWNER
TOP TEN CONS
Pricing Is A Real Art
The biggest factor in determining how quickly your home sells is the price, and deciding that price is trickier than it seems. It takes experience and even 1% more of your home can mean thousands to your bottom line. Setting a price based on CMA as a member of the Toronto Real Estate Board that will have immediate access to tape into the neighbourhood statistics. Without the right price it is nearly impossible to sell a home. Being overpriced is the #1 reason homes do not sell!
Marketing A Home Is Difficult
A Realtor® has an established network that can reach potential qualified buyers
through the MLS system, brokerage/company website & internal systems that a ad would never. To get the most for your home, you need as many buyers interested as possible. According to REALTOR.com, 82% of real estate sales are the result of agent contacts.
Selling A Home Is Simply Hard, No Easy Task
Considerable amount of time is required. Every phone call must be answered ready with the knowledge to answer any question or concern plus becoming available to show the home not based on your schedule, and showing your own home can feel awkward. Even after an accepted offer the buyer might still be able to get out of the deal legally. Realtors® have the skill to try and save the transaction.
Realtors® Are Trained Professionals
Homeowners selling there home will have a learning curve every step of the way, and will not have the opportunity to practice – to fail and improve – to reach the level of a professional.
Realtors® have a process for ensuring both their own safety and the safety of their clients when potential buyers are invented into your home.
Much Research Is Required To Ensure You Are Protected
If unaware of laws and regulations you could easily put yourself into the middle of an ugly lawsuit. Necessary paperwork for making a real estate transaction is required – Realtors® know specific clauses to protect your interests.
Negotiating Is Hard - Beware Of Bargain Shoppers
Not just hard to do, but it can feel uncomfortable. If you want someone to negotiate fearlessly on your behalf, you need an agent. Buyers will assume they can put in low-ball offer simply because you are not paying commission for a Realtor® to sell your home.
Commission Still Must Be Set For The Buyers Realtor®
Settling a low commission rate below the typical 2.5% will not attract agents who are working with qualified serious buyers. Realtors® will feel more inclined to want to work with fellow professional Realtors® to ensure a smooth transaction. According to The National Association of Realtors® over 90% of all for sale by owners fail.
Real Estate Lawyer fees vary. Some charge by the hour while others offer a fixed rate to conduct a real estate closing. If you are not working with a realtor and dont know the paper work process then you might be looking at increased lawyer fees to help you with the sale of your home.
CONSIDER WORKING WITH A
One of the biggest misconceptions of a home owner who is ready to sell think,
Commissions rates set by a full-service brokerages/Realtors are too high and think they will save if they hire a discount brokerage who offer commissions for less but full-service benefits will not be included in the marketing of the home to attract qualified buyers when you receive a commission discount. With the cost of commissions some Homeowners think they can save money if they just sell themselves, some commission cost can be saved but might not be that much of a difference as you think.
FOR SALE BY OWNER