Why Use a Realtor? by NiCole Hill of The Group Real Estate
I am ready to move, should I “save money “ and sell myself or hire a Realtor? Have you found yourself crossing this thought pattern? Realtors provide value and take care of the sell of your home so you can still carry on your busy day to day life. We all wish we had more time in a day. It can get hectic if you are trying to sell on your own. I don’t know too many people who don’t like to save money where ever they can, especially when it comes down to selling your own home on your own or hiring a Realtor to sell. In the public’s Eye a Real Estate sale saving commission translates into a large amount of money. It is hard to blame any home seller for wanting to avoid the type of dollars that are made when a Realtor sells your home. Selling a property for sale by owner, however, is not a simple task, and that is why most homeowners end up hiring a Realtor. Nationally the success rate of a for sale by owner is small. Over 85% of all for Sale By Owners end up hiring a Realtor to get the job done after unsuccessfully trying on their own. Why is going the route of selling without a Realtor such a task? There are quite a few reasons why selling for sale by owner is a difficult task to pull off. Most for Sale By Owner Properties don’t sell because of a undesirable list price. Even if you Listed your home with a Realtor or have decided to go the for sale by owner route If you don’t price your home correctly, you stand a very slim chance of it selling in a competitive Real Estate market. Pricing a home properly is a critical element when selling any product but especially so when you are talking about a home sale. Over 80% of a homes marketing is about setting a marketable sale price. Homes that are listed with a Realtor and are overpriced have a slight chance of selling. Overpricing as a for sale by owner makes it almost impossible. Numerous for sale by owners seem to either do their market research and end up choosing the wrong price or have a Realtor help them determine the property value and ignore their advice. If more for sale by owners priced their homes based on comparable market data, there would be a much greater success rate. Doing more thorough research of what like homes in similar neighborhoods are selling at would go a long way! Often people want more money for their homes because they have made some recent improvement. Unfortunately many projects for the home do not have a high return. For example, if you replaced a roof, a septic system, or added a fence/deck don’t expect to see much payback on the money you invested. Without question, this is a big reason why for sale by owners fail at selling their homes! Quite a few for sale by owners do nothing more than put up a handmade for sale by owner sign in the front lawn and expect that will get their home sold. Then there are others that think that going in one of the for sale by owner sites or a local for sale page. significant amount of buyer traffic in comparison to the places some of the top web Realtors use to promote their homes.The for sale by owner websites say something like “we will give you worldwide exposure and save you thousands of dollars!” For sale by owner websites having strong search position could not be further from the truth. Just go to Google or any other major search engine and type in a local search with Real Estate keywords a buyer would commonly do an online search.A search of your town, state, and homes for sale or Real Estate. Using a local town in my area as an example would be Idaho Falls Homes for sale. Do you think a for sale by owner Real Estate site is going to come up in the results? If you guessed yes, try again! Go ahead and see what happens with your town or city.The results will be dominated by sites that show homes listed by Realtors or even a Real Estate agents individual website if they are online savvy. These for sale by owner sites promise the world and deliver empty promises most of the time.A Realtor who has a firm grasp of online exposure can increase the traffic going through a home by leaps and bounds when compared to a For Sale By Owner site. There is absolutely no comparison of what this kind of online exposure can do versus a for sale by owner website. The fact of the matter is that thousands of buyers will not even know a for sale by owners home is for sale. If you are a for sale by owner and are not having success a lack of marketing could be another reason for your lack of success. One of the things that most folks who try the for sale by owner route don’t realize is that the home buyers who view the home understand you are not paying a Real Estate agent to sell the home. Unfortunately, the majority of these customers feel they should share in your commission savings! Many of the potential buyers who will view for sale by owner homes are bargain hunters. The line of reasoning is that since the seller is not paying a Real Estate commission, they should be able to offer less for the home. Lots of sellers end up receiving low ball offers. Buyers will often take 5% right off the top regardless of whether the home is priced well or not. Many for sale by owners learn this the hard way. Often when a for sale by owner is trying to sell a home, they need to find the time to let a buyer gain access which is not always easy, especially for those that work full time. It is tough to sell a home when buyers are not able to get in and see it on their time. A Realtor’s job makes this part of the home sale process go much smoother. The last factor a for sale by owner needs to be aware is their ability to make sure they know how a potential buyer can qualify to buy. There is no point in having unqualified buyers going through a home. A Realtor also takes on this responsibility of making sure a buyer has the ability to purchase. Most buyers that view homes today are pre-approved. As a for sale by owner you need to make sure the potential buyer can purchase your home. Selling a home for sale by owner is a great feeling if you can actually sell. It is certainly not impossible, but as long as you know going in that it’s not going to be easy unless you sell it under its market value which would defeat the purpose! Above all else, remember accurately pricing the home, and market exposure are vital to your success of your sell. Just call a Realtor to save you time and stress. Find a Realtor you can relate with that understands you and your vision. Feel free to interview a couple and make your decision.