submitted by Kathleen Layton, Berkshire Hathaway Home Services/Fox Roach Realtors Newtown Office
For some of you “can-do” types, I know it’s an alluring thought.
I mean, you watch those real estate shows on TV so you know how things work, and homes appear to be selling quickly in your neighborhood…how hard can it be, right?
Put a sign in the yard, run an ad, have an open house and BINGO, it’s sold.
Man-o-man – think of the money you’ll save!
For a lucky few, that may work. For the rest of you, listen up and consider the following… Recent studies have shown that 95% of Buyers look for homes on the Internet, and less than 13% look at print advertising.
Realtors spend gobs of money to establish an online presence for their listings and have a cohesive plan in place to see that they’re promoted properly to your most likely Buyer.
As a matter of fact, 50% of Buyers find their home from the Internet, 28% from their agent, 7% from a yard sign and 1% in the paper.
What’s YOUR marketing plan? And will it compete with mine?
If you are lucky enough to secure an Agreement of Sale for your home, that is no guarantee that you’re going to make it to the closing table.
Are you sure the Buyer is qualified to purchase your home?
Are you able to coordinate and negotiate the home inspection, any municipal inspections, getting resale certificates, working with appraisers and attorneys, resolving title issues?
Do you have resources you can tap to navigate the above?
Are you familiar with all state, local and federal disclosure requirements and the mountain of paperwork involved (who said we were going to a paperless society anyway?)?
Multiple studies have shown that when a Buyer pursues a For Sale By Owner, their intent is to benefit from the fact that you’re not paying commission, which is reflected in their offer.
These same studies show that homes listed with Realtors consistently sell for more than those that aren’t.
Let’s face it – you don’t know what you don’t know.
Why gamble with your largest single asset when you can hire an agent at no additional cost to your bottom line?