Selling you Own Home is not as Easy as 123 (FSBO)

In these times when , many people are looking for a
way to save a buck. There are times when searching for an affordable
alternative is a great idea. Selling your home, likely your greatest
asset, is not one of those times.

You decide to sell your home privately. How hard can it be? You know
how much the neighbours got for their house 3 months ago and, even
though you were never in it, how different could it be from yours?

You put a classified ad in the paper, place your orange and black
“House for Sale” sign on the lawn, and wait for the money to roll in.

Here are just some of the Pitfalls to prepare yourself for:

Timely Ted – Ted is only available to see the house at 11:00am on
Tuesday. You don’t want to miss a potential Buyer, so you take the day
off work so you can meet Ted. Unfortunately, Ted fails to show up and
you forget to get his number, so you can’t follow up. How much did
that day cost you? How many times might this happen? 

A Full-time Realtor does not have to worry about missing work, since
this is it. Sometimes, Buyers don’t show up, but a good Realtor will
confirm the appointment before-hand and possibly meet the potential
Buyer at the office before even going to your property. If the Buyer
doesn’t show up, your Realtor is hard at work at the office while they
wait. 

Stealer Steve – This is the Buyer who actually just wants to check out
your house to see if there’s anything worth stealing.  Two days later,
your house is broken into. Unfortunately, when the police ask, you
didn’t keep Steve’s information. You don’t even know his last name. 

A Realtor requires that the people they work with supply
identification. We know who we are dealing with.

 No Money Joe – This is the Buyer who would really like to buy your
house. Unfortunately, he’s out of a job just now, and doesn’t have a
down-payment. The bank won’t touch him with a ten foot pole. What is
he doing in your house? 

A Realtor qualifies their Buyer clients and makes sure that they can
afford to purchase the home they are seeing. 

Back on Monday Mike – This is the Buyer who says that they want your
home. “Please don’t sell it, I’ll be back on Monday with a deposit.”
Three more potential Buyers call, but you promised Mike you’d wait for
him. Of course, Mike never shows his face again. 

Realtors understand the legalities of contract law. A good Realtor
would never advise you to miss opportunities based on a verbal
promise. 

Open House Oliver – This is the Buyer who comes through your house
with his wife and six kids. They love the house. You couldn’t keep
track of them all as they ran in every direction, and wasn’t that
heirloom silver dish out on the dining room table when they got here?
They seemed like a really nice family though. 

A good Realtor will keep track of who is coming in and out during an
Open House and keep control of the situation. They will also advise
you on security issues.

Showing Shelly – This Buyer said they really liked the house, and they
would be back to view again and probably put in an Offer. You’re so
excited. Weeks go by, and you don’t hear from Shelly. You forgot to
get her number, so you can’t even call to find out what’s going on.

 A Realtor will follow up with all showings and obtain feedback for
you. Sometimes the feedback may not be what you want to hear, and
sometimes it may be as simple as “it was not the right property for
the Buyer”. But at least you know.

Finely, you do sell your house yourself. However, you priced your
house $30,000 below the market value, lost 9 days of work, your new
television and laptop and your grandmother’s silver dish. If you had
paid a Realtor, you would have made $30,000 more and would have
avoided all the stress and hassle.

 Is this an exaggeration? Maybe. Has it happened? Most probably.

These are just the tip of the iceberg when it comes to issues
surrounding selling your own home.  Suddenly, a Realtor does not sound
like a waste of money. A Realtor is a trained Professional who can
help you avoid these pitfalls, and in the end, save you time, hassle
and money.

Cheers,

 

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Shayzaad Kassam

Shayzaad Kassam

Broker
CENTURY 21 Millennium Inc., Brokerage*
Contact Me