The Top Ten Reasons Not To Sell Privately
10) MLS listings put all licensed Realtors to work for you. That means you have over 600 knowledgeable professionals assisting in the sale of your home the moment it goes on the market.
9) Most homeowners with their homes listed for sale, purchase their next one with the same Realtor that is selling their home. This means they look only at MLS listings. The same is said about out-of-town buyers. Since they seldom have the time or knowledge to look around and deal directly with owners, they deal with Realtors who do the work for them. 80% of buyers use the services of a Realtor and do not consider buying privately. These are the serious buyers that you wish viewing your home and making serious offers.
8) I stay involved in the transaction until the deal is closed and can eliminate a great deal of red tape. For sellers too busy packing and preparing to leave town, I am the one who does the legwork to make sure that the deal stays on track and ends successfully. As well, a potential buyer is more likely to believe a licensed Realtor who must adhere to a rigorous “Code of Ethics” than an owner who may not be around after the sale.
7) Most Realtors have already qualified the prospects they are working with, eliminating “lookers” and non-serious purchasers, before taking them into your home. We also screen and accompany all potential buyers.
6) Experience and knowledge of the market are used to price your home properly. Some vendors ask too little and others ask too much. If a home sits unsold for too long it becomes stale, forcing the seller to accept less money for the home than he would have received had he started at the right price. We also possess more experience in selling homes and can offer suggestions about how to improve a home’s “show ability” and hence increase its market value.
5) A good Realtor can educate possible buyers about the area, point out comparable properties, and put your property in the best possible light. We have access to property databases that the public does not and knowledgeable buyers know this, which is why they use our services.
4) Demonstrating property is an art learned from experience. It is a Realtor’s job to demonstrate your home and its features. I also follow up on all showings, seeking what the buyer thought. A private seller doing a follow-up is deemed to be desperate and it weakens their bargaining position.
3) The seller who uses my services has advance notice for showings. This eliminates strangers showing up at your doorstep unexpectedly at inconvenient times. As well, only a small percentage of phone calls are serious inquiries. One of the most common complaints from those who tried selling privately and then turned to a Realtor is that fact that their phone rang at all hours. We eliminate that hassle and screen all inquiries.
2) I possess proven experience and education in the art of negotiating and contract law, and can secure for you a better and secure deal on your home. After all, a real estate commission pales in comparison to a lawsuit
1) Private sales attract bargain hunters who expect to pay less as there is no commission payable. Since the seller is trying to save 6% and the buyer is trying to save 6%, they are now 12% apart. Statistically, listed homes sell for approximately 10% more than private sales, so even after paying commission, vendors put more money in their pocket and have less hassles to deal with.
Something else to consider as well.... beware of discount brokers who assist to sell your home for less than a regular real estate agency. I have received e-mails from people who thought they would try to save some money by going this route only to realize the age old adage that we get what we pay for. Buyers realize this as well and often offer less money because they believe the seller is not paying as much commission. At the end of the deal, the money they may have saved could have been more money that was earned for selling the home at a higher price.