So you’re considering selling your home on your own versus using a realtor. By using the Internet to research seller information and to market your home; selling your home may seem easier than ever. This may seem tempting to many homeowners trying save money by not hiring a realtor. With the current state of the economy, this may be more tempting than ever to homeowners that are trying to cut costs wherever possible. Although the savings up front may be attractive to sellers, by not using a realtor sellers may be exposing themselves to risks that could end up costing them much more money in the long run.
Many homeowners attempting to sell their own home do not realize the workload that is involved and fail to recognize the obvious benefits of hiring a licensed realtor. According to real estate industry statistics, up to 80% of for sale by owner homes do not get sold by the owners and are eventually passed on to a real estate agent (FSBOSellBuy.com). The first advantage to using a realtor is that real estate companies have the ability to market your home to a much broader range of potential buyers. There are many great sites out there, like http://www.startpackingidaho.com/ and this site, and they offer a full-range of incredibly useful search capabilities for buyers and sellers. Licensed real estate agents who are members of the National Association of Realtors (NAR) have access to their local multi-listing service and can advertise your home with it. According to myspendingplan.com, over 80% of homes are sold through an MLS listing. In addition to the MLS, realtors can advertise in real estate magazines and classifieds and are immediately more credible.
Another thing many sellers don’t consider is how time consuming selling your own home can be. Pre-qualifying buyers, taking phone calls and showing your home continuously takes large amounts of time and can oftentimes be impossible for someone working full-time. Selling a home, depending on market conditions, can sometimes take up to year to complete the process and if you're attempting to market and show your home effectively, on top of other jobs, it can be very taxing. Realtors deep knowledge on the subject allows them to multi-task and effectively do what would take most people hours.
Also, something homeowners need to consider is that realtors have a large network of professionals that prove useful when buying or selling a home. Realtors can typically give you reliable referrals for mortgage lenders, general contractors, movers and other professionals. These referrals can be lifesavers to people undergoing the stress of buying or selling a home.Additionally, buyers and sellers need to be aware of the legalities and paperwork associated with buying a home. These legalities can be quite technical and it is very important that the involved parties to the sale are both well informed. Typically, homeowners do not have a good real estate attorney that can protect buyers from legal issues should they arise. Realtors are dedicated professionals that can streamline the buying process to make it as simple and understandable as possible for both the buyer and seller. When you break down the full breadth of what a realtor gives, you realize that their commission is quite small for the amount of work they do.