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Are You Up for Selling Your OWN Real Estate?

By
Real Estate Agent with Savvy + Company (704) 491-3310 228209

Are You Up for Selling Your OWN Real Estate?

Are you ready to sell-by-owner?
As I’m sure you are aware, the real estate industry is experiencing one of its worst down markets in history—at least locally it is.  The last thing you want to do is pay commission to a real estate agent, right?  Not to mention the fact that you’re nearly positive you can sell your own home just fine without having had any experience in doing so—it’s EASY! 

 

Before sticking a “For Sale by Owner” sign up, however, you’ll need to make sure that you’re ready for the work and headaches entailed in doing so.

  • Time.  Yes, you absolutely can sell your real estate on your own without the help of an agent but, it takes a lot of preparation and time.  How much is your time worth to you?  How much time do you have to spend preparing, pricing, marketing, procuring a buyer, showing and quite possibly even selling your home?  Before you set out on your own, make sure you can afford the time and energy investment requirements.
  • Service and value.  Going it alone, you’ll lose out on a wide variety of services offered by Realtors®.  For example, many agents now provide home staging services as well as extensive advertising and marketing services both online and off.
  • Marketing bright ideasExposure.  You also need exposure to buyers—real estate agents work together to help their sellers procure buyers for them.  Realtors® also belong to various organizations which allow sharing of listing information among other Realtors® and the public—your buyer.  As well, real estate marketing is our business—we do this full-time and we realize that 87%+ buyers find their homes online—on our sites.

  • Legalities.  Selling a home involves contracts, closings and a multitude of legal issues that can make or break a real estate sale.  Real estate transactions have occasionally led to outcomes that were unexpected, including lawsuits.  A professional helps ensure that the contracts are legally sound, binding and carried out to the letter of the law.

  • Market knowledge.  Realtors® have instant access to current market information. We are able to establish an accurate selling range within minutes after viewing your property.  Since the real estate market is in constant fluctuation, it’s important to have a complete knowledge of the market before pricing your own home.  Otherwise, your risk underselling or overpricing your home.  Public online sites’ estimates and comparable sales are NOT accurate and can cause you to make a costly mistake right out of the gate with your pricing.  

For Sale By Owner - Are You One of the 2%?You will also need experience with legal contracts and excellent negotiating skills.  Recent NAR reports that only 2% of homeowners who market their home for sale are actually successful—and many times, the buyer is a family member or a friend. 

Unless  you have your finger on the pulse of the market,  chances are a costly mistake can and will be made.  

Can you sell your own real estate?
 Absolutely
but, can you really afford to? 

 

If you’re trying to sell your Charlotte NC home and need the expertise of a professional, I can help. Call me at (704) 491-3310 or email me at Debe@DebeMaxwell.com for more information.

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Comments (95)

Damon Gettier
Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert - Roanoke, VA
Broker/Owner ABRM, GRI, CDPE

Debe, from what I am seeing, buyers want easy showings.  If anything is difficult at all, including scheduling a showing, they will simply pass.  There is just too much inventory.

Jul 07, 2010 04:27 PM
Dinah Stallworth-Lewis
Priority Real Estate LLC - 318.332.8281 - Natchitoches, LA
NATCHITOCHES, LA HOMES FOR SALE

Debe,

Great points!  For the majority of homeowners, sellling their own home is harder than they ever realized.  As realtors, we are always waiting to offer our services when needed to help them get their home sold.   

Jul 07, 2010 04:54 PM
Malik Crichlow
GoodBuy Homes NJ Essex & Union County Real Estate specialist - Maplewood, NJ
Maplewood,SouthOrange,Union Real estate

Debe,

GREAT POST!  Sellers need to truly understand that a good Realtor who is knowledgeable of their market area is worth the fee as most Good Realtors 1st priority is to help people not just get a check.

Jul 07, 2010 04:57 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Cheryl:  I use Kompozer - do a Google search and look for a free download.  It's much like MS Word--just write, change the font color and then cut and paste over into your AR blog!  Add the photos right from ActiveRain too.  It's really very easy--you will love it!

Lane!  You know I 'lure!'  You've got to read the post and find out, don't you?!  How's REBar planning coming along?  Let me know if you need any help!

Pippa:  I do the same thing--it's not worth my emotions potentially getting involved!

Roland:  Thanks so much!  If it were that simple, we'd be in another profession--or in the unemployment line!!

Jul 07, 2010 05:04 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Ken:  One of my CRS instructors gave me that figure--it's from NAR but, I have not looked to see where it's published.  I thought that was a staggering statistic too!

Dinah:  You're right--and I think that its' sad when they see how difficult it is first-hand.  It winds up costing them FAR more time and money than they anticipated--and perhaps even legal costs that they never imagined.  That's why we do what we do--offer our professional services!

Jul 07, 2010 05:07 PM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

This is a great post and very deserving of a feature!  Congratulations on such a well written post that is not too "over the heads" of your target audience. 

Keep smiling,

Karen

Jul 07, 2010 05:11 PM
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

Great posts about pointing out the negatives of going the FSBO route.

Jul 07, 2010 05:57 PM
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Debe,

Now at 86 comments, I am back, and what a good match of a blog and comments. And what a positive reinforcement of the pros and cons for the inquisitive sellers.

Came out very nicely, indeed

Jul 07, 2010 06:15 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Jon--Quite the contrary from the previous one, huh?!!  ;-)

And, as always--THANK YOU!  I want to save your first comment as the best one I've ever received!

Jul 07, 2010 06:45 PM
Dagny Eason
Dagny's Real Estate - Wilton, CT
Fairfield County CT, CDPE Homes For Sale and Condo

Debe - What a fabulous post, and well deserved feature!    I love the string of comments - they have added so much to this post!     Great points made - I am presently watching some friends go through the exercise of trying to get their home ready to FSBO, and this is a great article to share ....

Jul 07, 2010 10:45 PM
Linda Lohman
Fonville Morisey Realty - Cary, NC
Former Teacher/Broker

Well said!  Its about value and agents provide value.

Jul 08, 2010 02:46 AM
David Okada
Douglas Elliman Real Estate - Manhattan, NY
Service-Beyond Your Expectations

Great posts, we really earn our commissions. I love the graphics you used to emphasize your points. 

Jul 08, 2010 04:19 AM
June Piper-Brandon
Coldwell Banker Realty - Columbia, MD
Creating Generational Wealth Through Homeownership

Debe, this is great information for all those who think that selling their own home is easy. 

Jul 08, 2010 08:01 AM
Dale Ganfield
Leland, NC

Hi Debe, you make great points on the challenges of selling FSBO and really bring home the question of whether we can afford to do that.  Thanks

Jul 08, 2010 12:39 PM
Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Central Maryland

We should all re-blog this in our respective markets. An awesome post Debe

Jul 08, 2010 01:49 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Thanks, Ellie and everyone who re-blogged this and took the time to comment!  Hopefully your markets will bring you many homeowners who will understand that our job is not easy--we just make it look that way!

Have a fabulous Friday all!

Jul 08, 2010 04:15 PM
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

Well written Debe, at first I was reading it as if you were asking that question of a Realtor selling their own property...  oops.  Had to reread after the comments...  You are so right with the points you make. 

However here in our market you don't see many FSBO signs out at all.  They have gone the limited service route and paid just to have their home in the MLS.  It's these folks too that need to consider the consequences of going alone. 

Congrats on yet another great post!

Jul 11, 2010 10:43 AM
Ally Wangsness - Seattle Real Estate Broker
RE/MAX Metro Realty, Inc. - Seattle, WA

Debe, great post! I am going to re-blog it.

Jul 17, 2010 07:12 PM
Fred Carver Real Estate Consulant
Retired BC Realtor - Victoria, BC
Accredited Real Estate Consultant

Hi Debe....congratulations on yet another great feature post...You're Hot babe :O))

Great information for a home owner considering selling their home themselves

Jul 19, 2010 03:09 AM
Barbara Chatterton
The Stark Company Realtors, Madison WI - Madison, WI
Greater Madison Wisconsin Area Realtor

This is just fabulous. An amazing post and so valuable for all and so beatifully presented. I will share this.  Thanks, Debe.

Aug 05, 2010 05:02 PM