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Selling on your own.....

By
Real Estate Agent with RE/MAX Mainstream

I listed my house on Marketplace!!!!!

 

I get it. You’ve heard the market is HOT. You’ve spent countless hours making sure your home is ready for the market.

You’ve heard the crazy stories about people walking through you yard without you knowing…..WAIT. WHAT??? Yep, you’ve heard a ton of crazy stories nightmares. So based on that, you make a few vital decisions mistakes.

 

  1. No Address or Must PM for address- In your ad, you state that “address is in the comments” or worse “PM for address”. So you want to sell your house, but you don’t want people to know where it’s at. Put the address out there. Most people will know better than to show up at someone’s home and just walk through the yard. Also, by putting the address out there, you’ll eliminate people who don’t want to live in your area (I know it’s hard to believe but it happens).
  2. Not offering a buyer’s agent fee-I get it, you are trying to save money by not paying an agent so you turn down agents wanting to show the house. One of an agents key roles is to help everyone involved do everything that is legally required. The agent will request the required documents that sellers legally have to provide. Many sellers just don't know what is legally required. Having an agent can help keep you out of trouble.
  3. Selling AS IS-I’ve seen this a few times. If you are going to sell AS-IS, then a good idea is to pay to have your house inspected before you put it up for sale. Then you will need to disclose everything the inspector finds prior to the buyer making an offer. The best way to do this is provide a copy of the inspection with the seller’s disclosures (which are required in most states by law). If you’re not willing to do some repairs (almost every homes needs something) you need to disclose those items prior to a buyer making an offer or be prepared for a buyer to back out and you’ll most likely need to give up the earnest money deposit.
  4. Attitude- We know the market is hot. We know sellers are asking for lots and buyers are giving it. Don’t let it go to your head. Don’t get an attitude with your buyer or their agent. Seriously, the quickest way to lose your buyer is to be a jerk. You’re probably thinking, “so, there are other buyers.” Yes, but when a house goes off the market, then back on, then back off buyer’s start to think something is wrong with the house and steer clear. Rumors start. People talk and before you know it, NO ONE is looking at your house and it sits. And YOU. LOSE. MONEY!!!!
  5. Be prepared for lots of questions. Even if you have detailed everything about the house in the description, people will still message you asking for the address, price, number of bedrooms, etc. Yes, it’s annoying, but it’s the nature of the beast.
  6. Don’t take it personally. When you list a house on a public forum, it will bring out the best and worst commentary. Don’t get mad. As Elsa said, “Let it go…” At best ignore, at worse, delete the comment.

 

Selling a home is an amazing experience and one that I’ve enjoyed for over a decade. With all the ups and downs, it’s still one of the most rewarding professions to me. If you are thinking of selling your Illinois home and don’t want to go it alone, reach out and I’ll be there!

Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Prop. Mgr, Wenatchee, WA

Hi Kathy,
You've pointed out some of the reasons not to sell on your own but I think you missed two other very important reasons:
1) The legal blanket that comes with listing with an agency. Sellers rarely know all the legal issues required to sell their home and can get themselves in trouble that won't necessarily end with the closing.

2) The safety blanket that comes with listing with an agency. Buyers are vetted and prequalified before they are ever allowed into a home.  There are unscrupulous people out there casing homes to take advantage of the lack of safety precautions.

Jan 27, 2021 08:54 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I'm glad Carol Williams added this to her weekly Saturday post or I would have missed it. I love that you added attitude to the mix - it's so true! Being a jerk might mean your house will not sell!

Jan 30, 2021 06:37 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Kathy Jackson - that is so much to think about.  The reader should be saying by now "Let me call a professional."

Jan 30, 2021 09:50 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

You've share some great reasons to not try to sell on your own. Just because the market is HOT does not make it easier as an unrepresented seller. And with Covid and any local or state requirements and restrictions it's even more complicated. Are you ready for the legal liability?

Jan 30, 2021 12:54 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

GREAT post on this topic. Too many forget that a market can turn overnight and the shoe is now on the other foot.

Jan 30, 2021 02:45 PM
CANDACE (Candy) STEVENS, EA
Number Cruncher LLC - Overton, NV
Helping Taxpayers Resolve IRS problems

Great tips.  Thank you for sharing. 

Jan 30, 2021 04:37 PM