When I first joined the Active Rain Community, I wrote a blog entry concerning avoiding foreclosure. This topic has never been more timely than now.
If you are a seller and it is becoming increasingly difficult if not impossible for you to pay your mortgage, call your REALTOR®! It is not time for you to be trying to sell alone. You cannot market to the extent your REALTOR® can.
In our central Louisiana marketplace, I recently watched two houses go into foreclosure after owners trying to sell themselves. One was a lower priced rural home. I did not see it until days before it went into foreclosure. The other was an upscale home in an elite neighborhood. It was previously listed by one of the smaller companies in town, but did not sell. So, the homeowners registered with one of the for sale by owner web sites, stuck a sign in the yard and at the entrance to the neighborhood, and thought they were on the market! I contacted them several times, introduced my marketing plan to them via mail, and tried to get the listing. All to no avail. Now, they've lost their dream house and have nothing to show for it.
Home owners, please listen to me! Your REALTOR® has access to other agents, and through them to their clients. There are multiple well-known web sites available for marketing your home internationally, nationally, and locally. The internet is where more than 84% of buyers shop for their homes BEFORE contacting an agent. You must be well-positioned there where your home can be found.
Most buyers do not want the seller present during showings. It makes them uncomfortable. They much prefer to tour your home with their REALTOR®. Listing your home makes this possible, and places your home on the market whether you are there or not.
Take your REALTOR® into your confidence. He/she cannot ethically reveal what you tell them as to your financial circumstances without your permission. However, it helps them set a more realistic price that will enhance the likelihood of your selling quickly.
Your REALTOR® also has access to mortgage lenders who can provide the latest information to help with a short sale, a refinance, etc.
This is not the time to go it alone! You are setting yourself up for devastating failure when time is of the essence. At least, if the home does not sell then, you know you've given it your best effort.