The Importance of Having a Realtor ™
The real estate industry can be a complicated one. From buying, selling and investing, each has its own unique challenges. Unfortunately, ‘commissions’ often turn off those who are about to sell their homes. People think For Sale by Owner (FSBO) equals saving lots of money. As brokers we love the confidence the seller has however, the risks outweigh the benefits. Let’s talk about three major reasons never to list your home For Sale by Owner.
Where to start:
Let’s walk through three questions…. 1. Do you know what you are supposed to disclose to potential buyers? 2. Do you know how to accept an offer? 3. Do you understand the intricate steps that are required to get you from on the market to the closing table?
A broker does more than simply placing a sign, placing a home into your local multiple listing service and holding open houses. A broker thoroughly explains every detail with you. Before you step into the complexity of selling one of your largest assets you should speak with a broker.
Do Not Underestimate the Buyers’ Knowledge
A buyer understands why a seller chooses to sell their home “For Sale by Owner”. The seller is clearly trying to save money. In looking out for their best interest what will the buyer likely do? You guessed it. They will make a lowball offer. Save yourself time and money. Brokers will bear many of the costs you would have to pick up, like marketing your home and screening potential buyers.
The Banks Are Not on Your Team
If you are selling your home by owner, the bank will not disclose the buyer’s information to a non-licensed person involved in the transaction. Often times a buyer will tell the For Sale by Owner that they are “waiting on the bank”. Today’s mortgage process is lengthy and can often cause delays in closing. When FSBO Seller calls to ask what the delay is, you will likely not get an answer. Brokers on the other hand are licensed and work closely with banks and loan officers. They can make the call and get you answers.
Do not gamble with the sale of your largest asset to try and save a few dollars. There is a reason a broker earns a commission. They know the step by step process to get your home SOLD! When selling a home go no further than the Broker for you, Cru.