THE HONEST BROKER: SELLING IT MYSELF
With the proliferation of real estate television shows today, people have been given the impression that it is easy to
sell a home on their own without the assistance of a real estate professional. Usually this is fueled by the idea that “it can’t be that hard because it happens so easily” on those shows. My niece is a realtor in the Bahamas and was an agent in an episode of one of those shows. Reality television just is not reality. Primarily, sellers are looking to save money. There is the lure of saving 5% or 6% on a commission for not using a realty company. With that being said, the ease of selling a house yourself is filled with pitfalls and possibilities for a poor outcome if you are not one of those lucky few that actually succeeds.
The very first hurdle is drawing attention to the house and attracting buyers to come.
You can put the house on a public website. However, this will not draw in the larger buyer pool as compared to realtors working with buyers using the MLS. The chance of selling increases with the amount of showings a house has. Therefore, unless you can increase your chances of bringing in buyers “outside” of using a public website, you may be disappointed by very few people coming to see the house. Also, consider the amount of time that showing the property will take, being available when the buyer wants to see the house; weekends, holidays, etc. and making sure you answer potential buyers phone calls in a timely fashion.
Secondly, if you have succeeded in finding a buyer, you will need someone to put a contract together that protects your interests, a real estate lawyer would be your next step. Contracts are legal documents and you will need a professional to make sure the legal process is followed and you are protected. The lawyer would also be the party that follows the deadlines for the inspection, appraisal, survey, etc. and will get you to closing.
Diane Lott, Broker
Paradise Found Realty, Inc. of Palm City
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