Should you sell your home without a realtor?
This is not an uncommon question in today’s market. If you watch the news than it is not surprise to you how drastically our Arizona market is growing and houses are in demand. But does this mean a realtor is no longer necessary? Let begin by taking a look at the facts, here is a list I put together to help you decide if Realtor free is the way to go.
1) PRICE- First thing on the list is PRICE. Saving money is the number one reason most home sellers decide to sell without the help of a realtor, however according to NAR(National Association of Realtors) Sellers generally receive more money from the sale of a home using a Realtor than they would have attempting the sale solo.
2) MARKETING- In order for a home to be sold, buyers have to know it is there and available. This takes marketing and advertising your home to potential buyers, and not only is marketing another out of pocket cost for the seller, it does not guarantee the sale of your home.The number one mistake I see a majority of For Sale by Owners make is they feel a sign in the front yard announcing the sale will do the trick, but it is not always that easy, especially when most buyers still use Realtors to find their home and if an agent does not know your home is available via the MLS (Multiple Listing Service) Realtors will be unable or sometimes unwilling to show your property to their clients. Only a Realtor will be able list your home on the MLS to be seen by agents who service buyers across the valley. Keep in mind as well that websites like Zillow, Trulia, and Realtor.com get most of their information from agreements they have with Multiple Listing Services across the country.
3) TIME- It is not always easy to make the time to show your home to all potential buyers. Receiving phone calls, setting up showings, and working around every buyer’s schedule who may or may not buy can become exhausting. On the other hand a Realtor dedicates their time and energy into selling the home, taking calls, hosting open houses and providing walk-throughs to prequalified buyers.
4) NEGOTIATION- Attempting to negotiate alone can be scary when you don’t have the education or experience dealing with boilerplate contracts that buyers agents know backwards and forwards. A Seller’s agent has a fiduciary duty to look out for your best interest at all times, and to secure you the best deal possible for your home. The Realtor you hire will take care of all negotiating and communication for you this keeps emotion out of the equation and makes sure you understand all aspects of the accepted contract..
5) LEGAL HELP- Lastly, yet most importantly a seller who does not know the standard Arizona boilerplate contract runs the risk of litigation without proper representation. . Although you may hire a real estate attorney to take a second look at contracts and agreements, a real estate agent will provide you with all of the services listed above and will make an effort to bring you the best offer for your home. Every transaction is situational and only an educated, experienced, and professional Realtor will be able to properly navigate around the potential pitfalls and costly setbacks that can arise during the escrow process.
After viewing the comparisons, also keep in mind, The National Association of Realtors state that “less than 10% of for sale by owners actually sell” So is attempting to sell your home on your own really the right choice? Advice from the experts say if not handled correctly it could result in a risk or loss for the seller. It may be advantageous to call that realtor who has been contacting you, trying to help.