FOR SALE BY OWNER
Could You Sell Your Own Home?? Of course you could, although whether you should or whether you'd want to, will depend largely on your answers to the following questions….
1) Do you have sufficient knowledge of current (and ever changing) market conditions to price your home properly, to put it on the market at a price that will be attractive both to yourself and prospective buyers?
2) Do you have the skills to advertise and market your property effectively? Do you know how much advertising costs?
3) Do you have a network of contacts who can produce potential buyers for your home?
4) Are you a good negotiator? Will you be unnerved by aggressive buyers looking for bargains?
5) Do you have time to show your home to prospects? They'll want to look around when it's convenient to them, not necessarily to you.
6) Even if you have the time, can you deal objectively with negative comments prospects may make about your home? Not everyone will share your taste in décor or appreciate your improvements.
7) Can you determine who among prospects is serious and has the necessary assets to buy, as apposed to someone who is merely making frivolous enquiries? You could be stuck with a buyer who can't get mortgage financing when the deal is about to close.
8) And speaking of mortgages, are you able to help a prospect arrange the necessary financing?
9) Are you conversant with the many laws and regulations that affect property ownership? You could find yourself in some difficulty with a buyer to whom you've not disclosed certain facts because you didn't know about them.
Most people feel they have neither the time nor the skills to undertake the sale of their home. They prefer to rely on Realtors- trained and licensed real estate practitioners who are members of their local real estate board.
Realtors can answer "YES" to all of the above questions. They provide a variety of services designed to make the transfer of property from one owner to another as painless as possible for all concerned. They can put an army of salespeople to work selling your home through the Multiple Listing Service (MLS) but you need to deal with only one person, the Realtor you select. What's more, you'll pay that Realtor not one cent unless, or until, your house is sold. No matter how long it stays on the market.
Realtors subscribe to a strict Code of Ethics. They work in the community where they live. The most successful among them do well because they generate repeat business from satisfied customers.
The Canadian Real Estate Association
The Real Estate Advertiser
August 18th, 2005