Our culture is fascinated with the concept of Do-It-Yourself, and it’s no surprise that homeowners sometimes consider a Do-It-Yourself approach to selling. It’s even been the subject of some television shows. Court TV is popular, too, but most people wouldn’t act as their own legal counsel after watching a few episodes.
The label “For Sale By Owner” is a bit misleading. That’s because in fact, ALL homes are for sale by their owners, since the homeowner holds the title. In most cases, real estate professionals are employed to facilitate the sale, but do much more than just “sell” the home. They represent the seller, protect their investment in the home, and market the property.
Once you go beyond selling, it becomes apparent that For Sale By Owner really translates into Unrepresented Seller. It sounds fun to sell something, but it’s not fun to be unrepresented in a complex, competitive industry. Think about it: most buyers seek the services of an agent to save time and money. The seller is at a definite disadvantage if not armed with the same representation.
Unrepresented sellers report that the four most difficult aspects of going it alone are pricing the home correctly, preparing the home to show in it’s best condition, entering into contracts with unqualified buyers which never close, and understanding and completing the legal paperwork.
Unrepresented sellers face more liability issues and lower sale prices than their represented counterparts. Studies show that unrepresented sellers receive an average of 15.4 percent less for their homes than sellers who are represented by a real estate agent.
There’s a lot more involved in being a For Sale By Owner than just the “sale.” Call an experienced real estate agent to protect your biggest investment — your home.
Contact the Kathy Henne Team RE/MAX FINEST by calling (937) 778-3961.