Have you ever been mountain climbing? If you plan to sell your home without representation, that kind of experience could come in handy. Extensive preparation is needed if you expect to reach your goal. You might feel like you’ve reached the peak when you get an offer, but you’ve only made half the journey. To come back down, you have to successfully bring the transaction and post-contract activities to a close.
On the way up, you must be sure to properly disclose the condition of your home, take care of needed repairs and cosmetic considerations, appropriately price your home, and develop a marketing plan that will attract qualified buyers well suited to the home you are offering for sale. If you do receive an offer, you still have a long journey to get to a successful closing.
For Sale By Owners usually attract opportunists who believe — rightly or wrongly — that the owners are uninformed about the marketplace. Since the owners don’t have representation working to protect their investment, these buyers believe they may have an advantage over the sellers. They may tie the sellers up in a contract that will never close because they are unqualified, so the sellers miss out on their best opportunity of great market time. They may “nit-pick” the house and demand unnecessary repairs and threaten to “walk” if they sellers don’t agree to make the repairs.
Sometimes a For Sale By Owner is lucky enough to get an offer from a buyer who is represented by a Realtor. The Realtor will work hard to get the buyer to closing. However, the By Owner may not realize that the Realtor is only working for the buyer and looking out for their best interests. The By Owner doesn’t have anyone looking out for THEIR best interests. They don’t have anyone giving them advice on the biggest asset they have in their life. They end up loosing money.
According to a recent reports, less than 5% of home sellers sold their property without representation. Even more informative is the fact that less than half of those said they would even consider trying it again.
After all, selling homes is a full-time job. The average homeowner might sell three or four homes in a lifetime, while real estate agents sell hundreds, even thousands during their careers. It makes sense to take advantage of that experience, and you can expect a much higher final sale price as a result.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.