Many homeowners feel that selling their home without a real estate agent will be a piece of cake. Let me assure you it as not as simple as placing a sign in the yard and skipping happily to the closing table. Let's go over some of the pitfalls and hazards a home owner can face:
#1- Who is seeing your home?
The first problem is that placing your home for sale by owner will harshly limit the amount of buyers that see your property. Realtors and their clients utilize the MLS to view properties and send them to their clients. Any decent Realtor has a system of marketing to be sure to get your home in front of the maximum amount of buyers as possible. Doing a For Sale By Owner also runs the risk of being passed over by a Realtor that has a buyer for your home as the assumption can be "no realtors wanted here".
#2- How are buyers coming to see your home?
A professional realtor will have a lockbox that can only be accessed by other licensed realtors (did you know that realtors are subjected to a background check before they get their license?). They will ensure that your home is readily available and will know what agent is going into and responsible for your house. When selling by owner you will need to meet every potential buyer to show them your home. This is a huge issue as it interferes with your time- good luck having a job and accommodating potential buyers. The second issue with you personally showing buyers your home is that the potential buyer feels uncomfortable. They are not likely to open your cabinets to see if their favorite pot will fit if you are standing by them!
#3- You have a buyer, but are they for real?
For many buyers For Sale By Owner=I can score a sweet deal!! Do you have the expertise to weigh multiple deals against each other to see which are stronger? Do you know the pros and cons of different loans as a seller? Do you know what you should be asking a buyer to be sure they can "put their money where their mouth is?".
#4- Issues come up, do you know what to do?
Did you know that in order to get their license Realtors must attend schooling, pass exams, complete continuing education? They are equipped to handle any issues that can arise during the life of the transaction and can often time solve any problems that come up keeping your closing time on schedule! Have you done everything legally that you should be doing for selling a home or are you opening yourself up for legal issues 😳?
As a licensed Realtor in Northwest Arkansas I can guarantee you that I WORK HARD for every buyer and seller. Each transaction brings it's own unique set of circumstances and issues. Don't gamble with your biggest investment- let a professional help you get the job done right!
Visit my website's resource for Sellers HERE