So, you've decided to sell the house yourself
-- because you know it'll save you lots of money. Trouble is, that's what
your prospective buyers will be thinking, too!
Some will figure that since you're not paying a commission, they should
be able to get your price down a bit more. Others will be like you, choosing
not to avail themselves of professional help that can make their biggest
(and most important) shopping experience easier by providing priceless advice.
Would you represent yourself in court? They say only a fool acts as his
own lawyer.
There also are some costs you may not have considered. Besides having to
advertise, which is not inexpensive, you must make yourself available at
all times. How else can you show the house? You'll have to answer all kinds
of telephone calls, including some from real estate licensees who want to
convince you that you're making a big mistake.
You'll also not get the advantages of the Multiple Listing Service. This
valuable tool -- which isn't available to private parties -- tells 9,000
agents who already represent people looking to make a purchase that you
have a property for sale.
And when an agent lists a property, agreements negotiated by Sandicor (the
real estate MLS service) also assure that the listing goes on the Internet
-- with only the agent's name and telephone number. That means you get fantastic
coverage without the hassle of dealing with all the people who just want
to know a little more about your home before deciding whether they're interested.
Agents also bring you the benefits of daily networking, and they regularly
attend meetings where they discuss specific properties with other licenses
they know, from past experience, may have clients who'd be interested. |
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Then there is the matter of detachment. How will you
react when a prospective buyer walks through your beloved home making belittling
comments? It will happen, because some people believe that's a way to drive
down the price and a few are just mean-spirited. Will you be able to keep
your cool? To remain aloof, detached and impartial? To avoid rash comments
or decisions based on your emotional attachment to the home?
Are you educated as to the paperwork that sellers are obligated by law to
furnish? The rule today is disclosure, disclosure, disclosure -- transfer
disclosure, lead paint disclosure, etc. Since June, there's been a requirement
for Natural Hazards Disclosure.
Do you know what retrofits your town or city requires as a condition of
sale? Do you know what is required by the State of California? Will you
know how to answer all your buyer's questions?
Some people believe, erroneously, that an escrow company can solve problems
that may arise during a transaction. They do not understand that an escrow
agent, in reality, is a neutral third party who takes direction from those
involved in the sale; he or she is not supposed to give advice.
Real estate is one of the few professions in which people invest large amounts
of time, effort and even money with no assurance they'll ever be paid for
their service. If they do not deliver, you pay no commission. One really
has to love this business to put up with all the uncertainties.
The purchase and/or sale of a home is the largest and most complicated transaction
most people make in their lifetimes. It is difficult under the best of circumstances
and can be absolutely hellish when poorly handled.
That's why it makes sense to spend your time and effort finding a good
professional to handle your transaction -- then sitting back and letting
the agent do what he or she has been trained to do. |