SELLING YOUR HOME WITHOUT A REALTOR

By
Real Estate Agent with RE/MAX Hallmark Realty Group Ottawa

You want to save some money and decide to list your biggest investment via a For Sale by Owner  system.  You are still responsible for the showings, marketing, open houses, preparation of offers (lawyers charge for this service), negotiation, inspections, fulfillment of financial condition, and distribution of documentation.    Here are reasons why you should hire a professional Realtor.

1.  We know the market value of properties - its not the price that properties are posted but the actual sold price. 

2.  Comparables - hardwood flooring, carpeting, laminate, upgraded kitchens, bathrooms, yards, basements, furnace, a/c, roof, windows, etc.

3.   Pre-approve potential buyers before they enter your home.

4.  Follow up with potential buyers.

5.  Hosting your Open Houses; cold calling in neighborhood; flyer delivery.

6.  Sending out just listed cards to potential buyers.

7.  Calling our database.

8.  Organizing an agent tour of your property.

9.  Negotiating the best price for your property - maybe getting multiple offers

10. Closing the deal.

That's what we do every day, day in and day out. 

Here's a scenario

First time home buyer purchases a condo from a FOR SALE BY OWNER (FSBO) and overpaid by $5K; a few years down the road, decides to upgrade and tries selling on her own.  List the house and receives many inquiries and then has people come to her house - here are the results:

1.  Complete strangers entering her home - she doesn't know who they are;

2.  Doesn't know whether they are pre-approved or not;

3.  After several months (her property was slightly overpriced - not by much) receives an offer and right away wants to start shopping for a new home.

Her mortgage broker (thank God) suggested that she work with an agent for her purchase.  She agreed and called me.  So I asked her if she had a copy of the offer on her condo with her - no, the buyer is having his lawyer draft it.  A week later still no signed offer, finally, after several phone calls and emails, the potential buyer says that he hasn't had time to meet with his lawyer and could she prepare the offer.  She contacted me and I prepared it (at no charge - just to facilitate the deal); the potential buyer came to my office to sign the offer and bring a deposit cheque. 

So here's what's interesting:  She had his name, telephone number, and email; no address; no deposit; no lawyer's name no banking information.  So, she didn't have a deal.  So, I asked her "How many strangers have you let in?  You are a single woman and you are letting strange men into your home and you are alone - do you  not listen to the news?"

After all of that - the potential buyer decided not to purchase her condo (due to financing) and she decided to list her property with me and let me have all the stress and look after the details.

Because its a Buyer's Market here in Ottawa chances are I will be able to get her full asking price and then we can go shopping for her new home.

REAL ESTATE IS ALL ABOUT YOU!

 

 

 

Posted by

Irene Bilinski, ASA
Bilingual Sales Representative

RE/MAX Hallmark Realty Group Ottawa

Direct (613) 858-1151
Office (613) 590-3000

www.irenebilinski.com

Real Estate… it’s all about You!

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Rainmaker
1,282,430
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Most of the time, the FSBOs are overpriced or way under priced.  They lose out more than the commission by going without a realtor.

Apr 25, 2012 01:47 AM #1
Rainmaker
849,042
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

It is interesting how many people think selling a home is easy and you let in whoever comes by.  Silly. 

Apr 25, 2012 01:50 AM #2
Rainmaker
1,303,628
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

I would recommend selling your own home about as frequently as I would recommend doing your own tooth extraction simply because you read how to do it online.

Apr 25, 2012 01:54 AM #3
Rainmaker
176,714
Irene Bilinski
RE/MAX Hallmark Realty Group Ottawa - Ottawa, ON
Real Estate… It's All About You

Excellent comments folks.  Cheers

Apr 25, 2012 02:29 AM #4
Ambassador
1,598,387
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

Wow, we would love to see some market reports to see how your recovery is going since you are still a buyer's market.

Here in Florida, we are back in a full seller's market with prices rising and finally selling new construction again as our resale prices have risen to the point of new homes once again.

Apr 25, 2012 12:01 PM #5
Rainmaker
176,714
Irene Bilinski
RE/MAX Hallmark Realty Group Ottawa - Ottawa, ON
Real Estate… It's All About You

Hi Kevin

There was a bit of a slump in Toronto, Calgary and Vancouver but here in Ottawa real estate has been going strong all along.  We are blessed.

 

Apr 29, 2012 06:03 AM #6
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Rainmaker
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Irene Bilinski

Real Estate… It's All About You
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