Wednesday, 27 February 2013

14 Important facts to consider before you try to sell your own home

14 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL

YOUR OWN HOME



Occasionally, one can see "For Sale By Owner" signs, and some owners think that selling their

own home will not only save them money, but believe they have an advantage over the sellers

that have their home listed by a reputable Realtor©. Before you decide to take on this very

important and legally complicated process…remember not even most Real Estate Lawyer's

recommend selling your own home yourself in today's market. Here are a few of the reasons

why:

1. You are limiting your exposure to potential buyers (less than 10% of what a good real estate

broker will generate) which theoretically means your home will take ten to fifteen times longer

to sell on the market.

2. The longer a home is on the market the lower the selling price is. Why? Because most buyers

think that if the home has not sold after this long... there must be something wrong with the

home.

3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that

all it takes is for someone to see their home, fall in love with the great decor... and the offer

automatically will follow. Remember that the buying process begins after they leave your home.

If a real estate sales representative does not represent the buyer, and they are looking on their

own…they usually le
ave the home and start to talk themselves out of the buying process. If the

buyer is represented by a real estate professional Realtors© are trained on how to overcome

buyers remorse--a very common occurrence.

4. Because of the limited exposure you will very likely end up with a lower selling price.

Remember, in order to generate the highest price possible for your home… selling means

exposure. You need the maximum exposure possible, to generate the highest price possible.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and

therefore avoid FSBO properties.

6. Lack of negotiating experience and lack of pertinent information often will result in a lower

selling price, or worse yet, a bungled contract and possible lawsuits.

7. The majority of qualified buyers are working with experienced real estate professionals.

8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in

the real estate mainstream, this can some times make them wary.

9. As most local buyers now retain an experienced real estate sales person to represent them as

their buyer-agency, you will probably be negotiating against an experienced professional.

10. Expected savings in broker's fees will also be greatly reduced if you offer a selling

commission to entice real estate sales representatives to bring potential buyers.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees

will be considerably higher.

12. Only real estate sales representatives have access to the up-to-date market information. News

reports cannot approach the timeliness or specificity available to real estate sales people. Further,

real estate sales representatives are involved in home sales much more frequently than the

average homeowner is. This familiarity leads to a degree of expertise that provides an edge on

negotiating and successful selling.

13. You only pay the commission to the real estate broker, if they successfully sell your home at

the price you are happy with.

14. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real

estate transactions usually always have problems on closing. At times, expecting the Buyers and

Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This

is the time that your experienced real estate professional, can be the most important. Your

Realtor© can act as a great mediator. Lawyers MUST act only on their client's instructions and

are not paid to negotiate


Kevin & Faye Kitzman

Sales Representatives

Remax Real Estate Centre

Direct : 519-577-0603



 


 

Faye Kitzman

Mortgage Agent

Mortgage Intelligence

519-588-0141


M08003930




 

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