For Sale by Owner

Selling your House without an Agent

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Before you decide to take on this very important and legally complicated process…remember not even most Real Estate Lawyer’s recommend selling your own home yourself in today’s market. Listed below are reasons why you should enlist the services of a Real Estate Company for the Sale of your Home:

1. Selling your home is probably the largest financial transaction you will handle in your life time. Why would you not enlist the services of a Professional to ensure you reap the proper rewards?

2. If you list your home on your own, you are limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate) which theoretically means your home will take ten to fifteen times longer to sell on the market.

3. Most buyers looking at FSBO’s are looking for a deal. They are not serious buyers, and DO NOT have to buy. They are in a waiting game until they find the ‘Deal of the Century’. Since you are not enlisting a Real Estate Company to sell your home they also feel the price should reflect a lower price since you are not paying Real Estate Commissions.

4. They also may not be properly qualified through a financial institution, which means even if you negotiate a sale, they may not be able to close because they cannot get the financial funding they need on closing.

5. Because of the limited exposure, you will very likely end up with a lower selling price because your home has been on the market for a longer period of time. Remember, in order to generate the highest price possible for your home… selling means exposure. You need the maximum exposure possible, to generate the highest price possible.

6. The longer a home is on the market the lower the selling price because most buyers think that if the home has not sold after this long…there must be something wrong with the home.

7. The selling/buying process begins after the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor… and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate agent does not represent the buyer, and they are looking on their own…they usually leave the home and start to talk themselves out of the buying process. If the buyer is represented by a real estate professional Realtor©, they are trained on how to overcome buyers remorse--a very common occurrence.

8. Most serious buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid FSBO properties.

9. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.

10. The majority of qualified buyers are working with experienced real estate professionals. These professionals will not show your property since they will not be paid for selling it.

11. Expected savings in broker's fees will also be greatly reduced if you offer a selling commission to entice real estate agents to bring potential buyers.

12. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer’s fees will be considerably higher.

13. Only real estate agents have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to agents. Further, real estate agents are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.

14.You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with.

15. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer’s to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Realtor© can act as a great mediator. Lawyers MUST act only on their client’s instructions and are not paid to negotiate.

Cynthia Shaw, Sales Representative - Selling Mississauga's Finest Homes - 905-822-5000 Contact Cynthia Shaw