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Who Needs A Realtor Anyway??

This post is meant for Realtors, who deal with, and Home Owners who are trying to sell or thinking of selling their homes on their own.

Why should home owners use a Realtor when trying to sell their homes? A valid question that I just happen to have the answer for. Last post I had a top ten list. This time I am trimming back with a top 8!

Ready...

Set... FSBO Sign

Here we go...

During busy and slow markets, you will always pass a number of For Sale By Owners (FSBO) signs throughout your neighborhood. How many of these sellers can answer these 8 questions? How many Realtors can provide the answers.

1. PRICE

Do I have sufficient data to price my property realistically? Am I familiar with what comparable properties have sold for recently and what adjustments to those amounts I would need to make for my property?

2. LEGAL Signing Contract

Can I draw up proper contracts, recognize unreasonable contingencies, understand disclosure and agency relationships? Would I be on sound legal ground if conflicts arose?

3. NEGOTIATIONS

Can I handle the natural conflict of interest when working directly with a buyer, trying to protect my own interests versus my desire to accommodate his?

4. MARKETING

Do I have a complete understanding of real estate marketing and am I able to expose my property through the widest channels - local, regional and national?

5. QUALIFYING BUYERS

Can I professionally screen and handle innumerable inquiries? Can I differentiate between lookers and serious buyers? What kind of documents can I use to screen buyers and am I able to obtain them?

6. FINANCIAL

Do I have expert knowledge of the current mortgage situation: assumptions, buydowns, ARMS, secondary financing?

7. INCONVENIENCE

Am I prepared to forego social or business plans for an extended period, as I must be available at all times?

8. SAFETY AND SECURITY OF FAMILY

Am I willing to have members of my household exposed to strangers? The motives of casual onlookers could be suspect!

Unless you, Mr. and Mrs. Seller, answered YES to all the questions above, the skills and training of a professional sales associate would best assist you in selling your property. Sellers should know that only 1 in 20 sellers who try to sell on their own are successful in selling at market price. The other 19 suffered inconvenience, lost time, and frustration in their endeavor without reaching their ultimate goal - selling their property at the best possible price, in the shortest possible time.

Todd Jones, Realtor - Selling Scranton, Clarks Summit Real Estate

Posted by Todd Jones on 11/26/2007 09:30 PM

Comments (10)

fsbo, selling, for sale by owner, scranton, clarks summit, real esate, realtor

This post has been included in Pennsylvania Information Lackawanna County, PA Information Clarks Summit, PA Information

10 Comments on Who Needs A Realtor Anyway??

Very cool. Succinct and well put. Should jar a few of those Fizzbos loose. Thanks for sharing.

11/26/2007 09:40 PM

by Teri Deane--Central Maryland Realtor, ABR, WHC--Howard County Real Estate (RE/MAX 100)

EXCELLENT "Top 8". FSBO's simply do not understand all of the steps. Especially in a market with a lot of homes on the market; the For Sale by Owner; simply will never receive sufficient exposure.

11/26/2007 09:56 PM

by James Downing - REALTOR® - Washington DC Real Estate (Coldwell Banker Residential Brokerage)

Todd: You could go on and on... I say a "Top 20" is in order! Either way, and unfortunately for them, some sellers just can't be convinced!

11/26/2007 09:58 PM

by Martinelli Caputi & Associates, Ltd. (Martinelli Caputi & Associates, Ltd.)

Too bad it takes a bad experience as a FSBO to get some-people to realize it. Thanks for your thoughts.

11/26/2007 10:03 PM

by Terry Westbrook ~ Realtor(R) Grand Rapids Mi Ada/Cascade Real Estate (Five Star Real Estate, LLC Grand Rapids , MI)

Teri - Bring on the FSBO's!

James - I believe education is the key for For Sale By Owners. I don't think they realize all that is involved.

Richard - I provided eight... It is your turn to provide the next 12!!

Terry - I fully agree. Thanks for the comment.

Todd Jones, Realtor - Selling Scranton, Clarks Summit Real Estate

11/27/2007 08:16 PM

by Todd Jones (Coldwell Banker Town & Country)

I also like to explain the emotional trauma! Many people are very attached to their homes after raising families and accumulating 30 years worth of stuff!! Can they handle the negative criticism along with the positive? Sometimes having a realtor involved as a buffer is the best reason to list with an agent.

11/28/2007 01:02 PM

by Melissa Sall ~ Belmont County ~ Ohio ~ Realtor (RE/MAX Team Experts - Barnesville)

Todd

Good post, FSBO's are the greatest most of them have no clue of what is going on. I disagree with educating the seller on price before a commitment there are a lot of Sellers who just use people, try not to fall victim to them. Bait them but don't give away the house until they are ready to commit to you.

11/28/2007 04:11 PM

by Gary J Rocks (Sussex County Real Estate)

Melissa - I can relate. I just sat through a closing where the seller cried the whole time. She watched her family grow up in the home and it was a bittersweet day for her.

Gary - You make a good point. I was burned once.

Todd Jones, Realtor - Selling Scranton, Clarks Summit Real Estate

11/28/2007 08:12 PM

by Todd Jones (Coldwell Banker Town & Country)

Todd,

This is a great list for FSBO's to consider. Unfortunately, it comes down to two things for those who want to go it on their own...Money or Control. Many just don't want to pay for services they don't understand or they don't want to relinquish control of the sale of their home because they believe nobody can do it better than them. It's about creating a partnership that will give them what they want...a sold home.

Solid list and great post. Thanks.

11/29/2007 01:12 PM

by Andrew Trevino Wilkes-Barre Homes For Sale (TradeMark Realtors Group)

Todd-great list...may have to share this one!

12/10/2007 09:07 PM

by Midori Miller-Daytona Beach Florida Real Estate Trainer (CENTURY 21 Sundance Realty)