Reasons Why You Shouldn’t Try Selling Your Own Home
1. You usually don’t put more money in your pocket.
Take into consideration that most buyers who try to buy directly from owners are going to pay less BECAUSE there is no Realtor involved.
Statistics show that using a professional Realtor will bring you 10 -20% net dollars in your pocket.
2. Paperwork, compliance, more paperwork…
There is so much involved these days. Contracts, lenders, title companies, attorneys, etc… The guidance from a professional Realtor will save you a tremendous amount of time = $$$$$, and limit liability.
3. Your exposure is limited.
Over 90% of buyers start their search on the internet, 2% from other advertising, yet less than 3% of buyers buy from a For Sale sign. A real estate broker is involved in over 90% of all transactions.
4. Negotiations are better served by negotiators.
There are so many negotiating issues when selling a home; sales price, closing date, appraisal contingencies, closing costs, including the vendors you will use for all aspects of the transaction. Most homeowners are not remotely as effective as a seasoned Realtor.
5. How much is your time really worth?
The longer you take to sell, the more time you lose from making a living, being with family and the more dollars you lose from making additional mortgage payments, insurance payments and of course, taxes.
Michael Lux, Sr. Loan Officer