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!