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• A Useful Glossary

13 Important Facts To Consider Before You Try To Sell Your Own Home

Occasionally, one can see “For Sale By Owner” signs, and some owners think that selling their own home will not only save them money, but believe they have an advantage over the sellers that have their home listed by a reputable realtor. Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyers recommend selling your own home yourself in today’s market. Here are a few of the reasons why:

1. You are limiting your exposure to potential buyers — a good real estate broker will generate more exposure which means your home will take less time to sell.
2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long…there must be something wrong with the home.
3. The selling/buying process begins AFTER the buyer leaves your home. All sales require follow up and a RE/MAX Progroup agent will follow up with potential buyers to further the process.
4. Because of the limited exposure you will very likely end up with a lower selling price. In order to generate the highest price possible for your home, you need the maximum exposure possible.
5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid “For Sale By Owner” (FSBO) properties.
6. Lack of negotiating experience and lack of pertinent information will often result in a lower selling price, or worse yet, a flawed contract and possible lawsuits.
7. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.
8. As most local buyers now retain an experienced real estate sales person to represent them as their buyer-agency, you will probably be negotiating against an experienced professional.
9. Expected savings in broker’s fees will also be greatly reduced if you have to offer a selling commission to entice real estate agents to bring potential buyers.
10. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer’s fees will be considerably higher.
11. Real estate agents have access to the up-to-date market information. Real estate agents are also involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge in negotiating and successful selling.
12. You only pay the commission to the real estate broker if they successfully sell your home at the price you are happy with.
13. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions can be complex and involve unforeseen problems. These problems can sometimes lead to a lost deal. This is the time that your experienced real estate professional, can be your most important ally. Your agent can act as a great mediator.

RE/MAX Progroup Realty recognises the changes taking place in the real estate market and is building its business on a model of “One-Stop Shopping”. As well as realtors to sell your property, we will have other professionals ready to help with all aspects of the process and the transaction. From home inspectors to mortgage specialists, we aim to offer the simplest experience possible with the most Outstanding Results.