For Sale By Owner: It’s Not That Simple

sold-on-woods-brosAccording to Time Magazine, nearly 90% of home sellers choose to use the help of a licensed professional to list their home. In the age of do-it-yourself, with You Tube channels dedicated to every kind of how-to imaginable, it’s remarkable that so many of us are still relying on a Realtor to sell our house.

There are a host of reasons to be tempted to not use a Realtor, the biggest being a matter of frugality. Why pay someone to sell your home when you’re perfectly capable of putting a sign in your yard and posting a few pictures online?

The answer is because it’s just not that simple.

Selling your home is a much more intricate process than selling your grandpa’s old recliner on Craigslist.

For starters, your Realtor is a licensed professional, and that title comes with endless responsibilities that your Realtor takes seriously. They are your marketing guru, a negotiating master, and an endless database of connections to loan officers, inspectors, and other industry professionals.

While everyone dreams of a quick and smooth transaction, the reality is that a number of factors can become stumbling blocks along the way. Those stumbling blocks are the moment your Realtor turns into a superhero, swooping in and putting the pieces back together to do what you hired them to do: sell your home. If you feel confident in navigating any stumbling blocks yourself, consider the following:

  • The sale is not a sale until everyone agrees on the inspection and subsequent repairs. The inspection period can be a deal breaker.
  • The loan process is a complicated, but necessary beast. Someone will need to make sure the process is on track to avoid any delay.
  • Even deciding on a listing price is complex. Your Realtor has the most up to date info on recent sales of comparable houses, known as “comps.”
  • What about getting an appraisal? What if the appraisal is low? Your agent is trained in dealing with these challenges.

Even for those perfect transactions, a Realtor is still your liaison; doing the work and making the calls that you simply don’t have the time for. They will handle all of the details it takes just to get your home under contract. Realtors aren’t just for complicated transactions, they’re for every transaction. Think of it this way; you wouldn’t cut your own hair or cast your own broken arm; instead you rely on licensed professionals. Time Magazine suggests the following advice: “Before skipping a full-service agent, think hard about the time and effort you want to spend, particularly if the process drags on.”

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