Lifestyles over 50 Finance & Money
This question goes through everyone’s mind at one time or another. Can I save some money and some hassles if I do it myself (FSBO – For Sale By Owner)? Let’s look at why it is more advantageous to use an experienced realtor:
- A realtor is on your side and has a mutual goal of finding and/or selling your home. A realtor is bound by law to act in a seller’s best interest.
- With access to the MLS (Multi Listing Service) realtors know the market. They can find many more homes that match your criteria than you normally can, or they can determine the best price for a home you are selling.
- A realtor has information on the homes that are similar to yours and in your area and can more correctly determine a fair market price. If you overprice your home you will get no action and not know the reason why.
- Marketing real estate is likely not your forte. This is where agents prove their value. They know how and where to market your home.
- You may think you are saving the broker commission but remember, you still have to pay the buyer’s commission in order to generate interest in your property.
- Realtors do not have the emotional attachment to your home and can give you unbiased and fact-based information about your current home or a home you may be considering.
- Some potential buyers will not consider dealing with the homeowner in negotiations. Buyers want to have the freedom to look in every nook and cranny of the home. This can be awkward if the homeowner is there also. A buyer may not feel comfortable speaking honestly about the house in question.
- If you are not skilled at negotiating you may not get your money’s worth.
- Home transactions may require using a number of professionals (lawyer, title search, inspector, contractor and others). A realtor has connections and can recommend these individuals.
- A realtor will guide you through the maze of processes needed to complete real estate transactions. If you try it yourself a misstep could cost you time, money and the house of your dreams.
- Realtors can pre-qualify potential buyers beforehand thus saving you time. Typically this is not something a home owner can do.
- When selling alone you have strangers going through the home, it’s a security issue. Realtors use lock boxes and know who is in and out.
- And there is all the paperwork. No one I know loves all the paperwork involved in buying and selling a home. A realtor will guide you through the entire process and will ensure there are no missteps that can hurt you.