Can you really save big bucks selling your home by owner or should you go with a real estate agent?
Question Number One: Do you have the time sell it yourself. There are those other obligations you have to deal with such as work, children, family or school. Because of these time restraints alone, choosing a realtor to aid in the process of selling your home might be the best option for you.
Question Number Two: Do you have the knowledge to sell your home? There are appraisals, contracts, inspections, restrictions about what you can and cannot say to prospective buyers and a mine field of other legal issues. Do you know everything you need to know to price your home correctly and handle the transaction?
Question Number Three: Are you really saving money? You will need to advertise, answer calls, set appointments, show your home, meet with prospective buyers and entertain contracts. Advertising costs money and what is your time worth to you?
Question Number Four: Do you need a sale sooner than later? Realtors have one thing for sure that you probably do not. Contacts with many other real estate agents and access to many potential buyers. In most cases you increase the chances of a sale with an agent and the time your property on the market is less.
Let's examine some more reasons why choosing a realtor for the sale of your home can be rewarding. Realtors can consult with you on how to get your home sold in top-selling condition. Ask your realtor what you can do to make your home better than competing properties. Your realtor will be more than willing to make some suggestions.
A realtor can also give you a current market analysis on what is happening in your area or marketplace. Current market information from the realtor also helps to strategize the sale of your property. The current market analysis consists of information on other properties in your neighborhood that have sold in the last six months as well as active properties on the market. The properties that are used for the analysis are from the same area as your property.
Realtors can also market your home to other real estate agents on the Multiple Listing Service. This is a website specifically for realtors to advertise homes. Only realtors who have paid for the use of this website are allowed to have access. This website provides other realtors access to homes for sale. Other agents might have a buyer who would be interested in your home. The Multiple Listing Service advertises to those agents.
When working with a realtor, you don't even have to worry about negotiating every buyer's offer. Your realtor will handle all negotiating on your behalf. This means you might never have to talk with or see a potential buyer. This is especially beneficial if your time is limited to deal with buyers.
Closing the sale of your home is the most important thing. The paperwork can be overwhelming and unexpected problems sometimes occur during closing. Therefore, having a realtor present with you at closing is a good idea. The realtor can explain all the terminology and forms involved in the sale.
Frank Hendrickson is a real estate investor based in Texas. He is a former estate agent and writes widely about issues related to real estate and finance. His current interests currently span both the US and UK market especially the sell to rent back market and how it applies to the downturn in the real estate market.
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