Eight things For Sale By Owners Risk When They Sell Without A Real Estate Agent

Would you handle your own legal matters? Probably not. Selling a home involves contracts and timelines and is technically a legal matter. If you don’t know how to handle it you may risk having to go through mediation or a lawsuit.

Real estate agents are trained to handle this type of legal matter. This is why it is important to hire an experienced Realtor to help you navigate through the details of buying or selling a home.

Here are eight things homeowners risk when they do not hire a real estate agent to sell their home:

  • Presentation

You don’t get a second chance to make a first impression, and the same goes for selling a house.

Do sellers know how to prepare their home for sale? Do they know what it needs or doesn’t need? To repair or not to repair?

Realtors also know how to show a home in its best light. They have relationships with professionals who stage homes, take photos, drone footage, video and even 3-D. Real Estate Agents are proficient at coordinating staging, photography and video shoots with ease.

  • Knowledge

Real estate agents know what the internet does not tell buyers and sellers. They can provide insight that consumers can’t find online. Using graphs, charts, and other information available to agents they can make sense of the data so that sellers and their home are fully prepared for a changing market.

  • Marketing

How are sellers going to market their property?

Do sellers know how to promote their home to other agents in the community and on social media? Do sellers know if print media is appropriate for the property?

Real Estate Agents have a strong network with other Realtors in the US and abroad and know how, where and when to market a particular property.

  • Time

Do sellers truly have time to play the role of Realtor?

Are sellers available to show their home? Do sellers have the time to devote to scheduling and managing showing appointments?

What if a homeowner goes on vacation? How will sellers handle showings when there are cash buyers in town? This could be a lost opportunity.

Can the homeowner respond to agent and buyer questions, concerns and objections in a manner that will overcome a buyer’s hesitation to move forward with a purchase?

  • Negotiating Techniques

Once a homeowner receives an offer, now what? Does the seller know what to look for in the purchase agreement?

What terms and conditions should the seller be aware of? What costs should or shouldn’t they incur? How should the seller respond to keep the buyer in the game?

Agents know how to strike a delicate balance between protecting their seller’s interests and working with the buyer toward the goal of agreement.

  • Transaction Management

So the home is under contract with a buyer. What next? Does the homeowner know what items need to be followed up on? Do they know who to contact when challenges arise? Inspection or appraisal issues need to be dealt with and real estate agents know how to keep a sale together. Real estate agents are adept in disclosures, inspections, and keeping track of buyer’s financing to keep the sale on track.

  • Inspections and Repair Knowledge

This is one of the most difficult parts of a real estate transaction, even for real estate professionals. Do homeowners know what inspections they should expect?

If an inspector finds issues or red flags with a home Realtors know how to handle this situation. They know what kinds of repairs are usually done by a seller and other options available to them.

Realtors have a list of repair people at the ready who can come out on short notice.

  • Closing Details

Do sellers know when they need to be moved out of the house - the day of closing or a few days after closing? What condition are sellers expected to leave the home in?

Realtors can handle unexpected, last-minute issues that may arise and have answers to all of these questions.

As you can see, selling a home without an agent can be dangerous. Any commission savings is not worth uninformed decisions and costly mistakes that can, in the long run, cost the seller more money, time, and effort.

If you have a need for real estate professionals, please contact us. We would also appreciate your vote of confidence by passing our names to anyone you may know who would benefit from our services.

Source: Inman News article by Cara Ameer