The words “For Sale by Owner” are four of the most famous and unpopular words in the modern day real estate market. Today’s home owners feel that they are saving money and getting more bang for their buck by becoming their own real estate agents and selling their home on their own. By following the for sale by owner trend they are putting extra money in their pockets by not having to pay a real estate agent any commission. However, there is a downside to going the for sale by owner route. Many home owners find themselves bogged down with rules, regulations and paperwork that they aren’t familiar with. The for Sale by owner method isn’t always the best or most cost efficient means of selling your home.
For sale by owner means just that, you the home owner are responsible for every aspect of selling your property. From marketing to curb appeal, from disclosures to repairs, it is up to you. This means that a great deal of time and care must be taken by you, the seller to assure that the transaction goes smoothly, that the buyer is pleased and that all real estate guidelines are properly followed. As soon as you place that “for sale by owner” sign in your front yard, the phone will start ringing; this is where you as the owner will begin to work in order to sell your home. The idea of not having to pay a commission to a real estate agent is what drives most people towards the for sale by owner route. There are extensive issues involved in the sale of a home. Selling your own home can be a challenging and frustrating endeavor. If you already have a job, trying to sell your own home can become a second job very quickly!
The National Association of Realtors (NAR) current “For Sale by Owner” figures shows that one out of every five for sale by owner homes eventually gets listed with a real estate company. Many sellers don’t realize the time and effort that goes into selling a home, until they have tried the for sale by owner method. Then they realize how valuable a licensed real estate agent is to this process. Realtors know and understand the current market and correct pricing structure for your home. Let’s face it, your selling your home to make money, not to give it away! Realtors can save you time and money when it comes to showing your home to potential buyers. When you list your home as for sale by owner, you must rearrange your own schedule to show your property to buyers. Realtors can give your home the exposure it needs by marketing it on the local multiple listing service (MLS), the company site and other various home sites across the Internet. Realtors have access to pre-qualified home buyers who are interested in your home, right now! And most importantly, real estate agents understand the selling/buying transaction process. When you use the for sale by owner method, you have no one to guide you through the transaction; which depending on many factors can become quite confusing and tedious.
Paying a real estate agent a commission on the sale of your home might initially seem like a waste of money to those individuals leaning towards the for sale by owner method. However, the for sale by owner process only ensures one thing, that you the seller will be working overtime! In the end, a licensed, professional realtor is your best bet when trying to sell your own home. Realtors not only work with you, they work for you.
