Hire a REALTOR or list your home privately?

Many sellers wonder if it wouldn't be better to save the money that real estate fees cost them to sell their home. I understand completely. Some factors to consider are:

  •  Is it a hot sellers market or a buyer's market?
  • Are you priced competitively or is your price based on what you 'need' to clear or on what you have invested on upgrades and improvements?
  • How much experience do you have with selling and buying real estate? Are you familiar with real estate law and contract law? Otherwise you may end up losing money or possibly getting sued. Disclosing latent defects and being able to draft the contract in a way that protects you in the future are essential. Have you inquired with your lawyer to ask how much their fees are when acting on behalf of a private sale? The fees are generally higher because they assume many of the responsibilities that a REALTOR would perform.
  • Do you have a flexible schedule that can accommodate day, evening and weekend viewings?
  • Have you researched where you will get the most exposure (websites, print and social media advertising)? Have you created a budget for marketing and advertising costs?
  • Have you prepared a list of questions for potential buyers to help you discover who is really willing and able to purchase your home between those buyers that are just tire kicking and unsure of what they want?
  • Knowing that many buyers have hired REALTORS to assist them with their property search, have you thought about how much commission you would be willing to pay a REALTOR that may have the right buyer for you?
  • Do you have strong negotiating skills? These will be required to help you get the most for your home, as well as to help deal with challenges or issues that are unique to every sale.

The above are just a few thoughts to consider if you are thinking about selling your own home- call a REALTOR you trust to discuss your options. Good luck! 

 

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