Some homeowners think that selling their own home will save money
and give them an advantage over the Realtor-using majority. Before you start
down this complicated path, here are a few reasons why using a real estate
professional is important:
1) You will be drastically limiting your exposure
to potential buyers, which means it can take between 10 and 15 times longer to
sell your home. Houses that take a long time to sell usually sell for less
because buyers believe there must be something wrong with them.
2) Most buyers find negotiating with sellers
extremely awkward, and therefore avoid For Sale By Owner situations.
3) Most buyers use a Realtor in their home
search, and most buyers' agents will typically not work with FSBOs because they
will not be paid. This means you will have to offer a selling commission to
attract buyer's agents, which will cut into your expected "savings."
4) Lack of negotiating experience can result in a
lower selling price, or worse, a bungled contract and possible lawsuits. It is
probably unwise to pit your negotiating skills against those of experienced
professionals.
5) If you plan to use a lawyer to help you
negotiate, your lawyer's fees could be considerably higher than a Realtor's
commission. Unlike Realtors, lawyers do not get paid for proactively
representing your best interests or mediating delicate situations.
Tips
for Selling your Home
