Having been in this business for several years, I have worked with all types of buyers and sellers. Even though our inventory is increasing, it remains a seller’s market. I have noticed some sellers are attempting to “go it on their own” – thinking they will save money. However, statistics have shown the contrary.
- There are a plethora of people to interact with
- The buyer who wants the best deal possible
- The buyer’s agent who does not represent the seller and is solely working in the best interest of the buyer
- The buyer’s attorney
- The home inspector who is “hired” by the buyer and is working on behalf of the buyer
- The appraiser (if contingent on financing or contingent on appraisal)
- Exposure to the unrepresented public
We lock our doors, cars, computer equipment – yet we would let strangers in our home ”unrepresented” by a professional Real Estate Agent.
- Exposure to prospective purchasers
Recent studies have shown that 92% of buyers search online for a home. Only 28% are reading a printed newspaper. Most real estate agents have an internet strategy to promote the sale of your home, including MLS, websites, virtual tours and the list goes on.
- Results from the internet
Where do buyers find the home they actually purchased?
- 93% on the internet
- 6% from a yard sign
- 1% from newspapers
The days of selling your home by a yard sign and placing an expensive three-line “text” ad in the newspaper are long gone. Having a strong internet strategy is critical.
- Selling on Your own has become too difficult
The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people selling on their own has dropped from 19% to 9% over the last 20+ years.
- You will net more money when using an agent
Many homeowners believe that they will save the real estate fee by selling on their own. The main reason buyers look at your “unrepresented” home sale is because they believe they can save on the fee.
The list price a homeowner plucks from thin air is no match to a full-fledged comparative market analysis including multiple metrics carefully prepared by an experienced Real Estate professional.
When you, the homeowner, see the marketing strategies, time and money committed to marketing, as well as years of experience in negotiating and dealing with all personality types, you would think more than twice before “going it on your own.”