Why Use a Realtor to Sell Your Home?
Many home sellers underestimate the time commitment, the sales process, and the negotiating savvy necessary to sell their home at the best price, with the best terms and in a timely manner. Although the home owner may eventually succeed in selling his property, the lost time due to improper pricing and lack of effective marketing may cause him to regret the decision to sell on his own.
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For Sale by Owner
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The term, FSBO, meaning "for sale by owner," is commonly used in the real estate business. Many owners who choose to market and sell their property without the use of a licensed real estate agent or a realtor ultimately grow frustrated with the home-selling process and eventually list their home with an agent.
Performing a Market Analysis
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One of the reasons many FSBO properties fail to sell quickly is that the owners set the sales price too high, either out of fear of loss or because they have failed to perform a credible market analysis on their property. A market analysis takes into consideration recently sold comparable homes in the neighborhood, similar homes that are currently for sale and homes that did not sell and were withdrawn from the market.
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Preparing the House for Sale
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FSBO sellers often fail to critically assess the saleability of their property, ignoring details such as curb appeal, clutter inside the house and other distractions that may leave a negative impression on a buyer. Real estate brokers who deal with buyers regularly learn to anticipate buyer objections and can suggest changes to the buyer before these problems affect the sale.
Marketing and Showings
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There are many marketing venues available to FSBO sellers now than in the past. The Internet allows for greater exposure, but the truth is that most buyers still work through realtors to help them purchase a home. If a property is not listed on the multilist, chances are that it will go unseen by the vast majority of buyers.
The Inconvenience of Showings
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It is not always easy for FSBO sellers to be available when potential buyers ask to view the house, which could mean lost opportunities. It is also risky for sellers to let strangers into their house when they are not home. Realtors are held accountable for their client's behavior and run the risk of losing their license for unethical behavior.
Understanding the Sales Process
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Unless a person is familiar with the sales process, dealing with written contracts, counterproposals and negotiations, home inspections, title companies and closings can be intimidating. When listing with a realtor, a home seller can negotiate the amount of the sales commission, a list of services performed by the broker, marketing milestones, certain closing costs and sales incentives, as well as the broker's performance in finding a replacement home.
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- Photo Credit Image by Petri Krohn, Creative Commons
