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4 Huge Reasons Not to Sell By Owner

4 Huge Reasons Not to Sale By Owner

4 Huge Reasons Not to Sell By Owner

Gone are the days of easy selling and financing. HA! Believe me, it was never easy.

1. Real estate transactions are more regulated and more complicated

The real estate market has consolidated since the 2008 bust. Just like the lending and banking industry.  As a consumer you have less choices. That’s unfortunate. It’s harder to do a deal. Because you probably don’t buy or sell homes on a daily basis you don’t understand the real estate industry nor how it operates.  This is the number 1. factor for not trying to sell by owner.  Financing and appraisal issues are again killing deals.  You chances of completing a successful transaction are very, very low in today’s world.

2.  The Internet does not sell your home

Everyone and anyone is on the Internet today, would you not agree? With so much content and mis information your home is competing on third party sites that use your home as content to sell advertising. You are competing against every home listed in the world. Even if you’re showcased you are competing agains millions of properties. It’s hard to find a needle in a haystack. In fact, most internet leads are bad and most are looking to rent or look at home design or decoration ideas from you, your personal residence.

It’s a proven fact that 96% of homes sales are made by a buyers agent not the listing agent. Why? Because they work with serious home buyers & listing agents work with serious home sellers. A local Internet strategy, direct mail and the local MLS will sell your home quicker and for more money. Third party sites are far from the real MLS.  Technology is robust and accurate and there are local buyers and agents prospecting your home for a fast sale, 24 hours a day. No third party site required.

3.  Open Houses are opportunities for listing agents to prospect and use your house to gain more leads

If you do for sale for owner, open houses are not the answer. Why open your house in this day and age and not know who is going to come? Open houses are an open opportunity for thieves to prospect you home. Safety is another concern. On the other side, open houses are good for qualified buyers to research a neighborhood.

4. Using an agent will get you more money – How much?
A Lot!

I recently had a client that was approached on a business property. She was solicited directly from an investment group looking to buy up a block on Central Expressway. There are many solicitations done this way. They want to buy wholesale or discounted. They throw a number out and if you like it you take it. Instead of finding out the retail value of a property and working that angle. On this particular deal, they lost $200,000. by not finding out what property is really worth.  The fact is an investment group will go low and can afford more. This happens all the time. It’s worth the extra time to find out the retail price of your property.

The infographic above is a great visual to share if you like. The negotiating part is the hardest. Remember,  you have to sell your home 3 times:  to the buyer, lender and appraiser. Homes prices have not caught up with price increases so you might have to appeal an appraisal and that’s a totally different topic. The points above are valid if you don’t know the real estate market. On the other hand, if you know what your doing, by all means give it a shot!

Here’s a free resource guide for sellers if you’d like to know how to navigate the real estate market.