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Going at it without Representation and Proper Exposure?

12 IMPORTANT FACTS TO CONSIDER BEFORE YOU TRY TO SELL YOUR OWN HOME

  1. You are limiting your exposure to potential buyers which theoretically means your home will likely take much much longer to sell on the market - even if you use the services of a Mere posting company that will get you on Realtor.ca.
  2. The longer a home is on the market the lower the selling price is. Why? Because most buyers think that if the home has not sold after this long... there must be something wrong with the home.
  3. The selling/buying process begins AFTER the buyer leaves your home. Most sellers think that all it takes is for someone to see their home, fall in love with the great decor and the offer automatically will follow. Remember that the buying process begins after they leave your home. If a real estate sales representative does not represent the buyer, and they are looking on their own...they usually leave the home and start to talk themselves out of the buying process. Real estate professionals are trained on how to overcome buyers remorse--a very common occurrence.
  4. Because of the limited exposure, combined with lack of proper set-up and additional marketing, you will very likely end up with a lower selling price. Remember, in order to generate the highest price possible for your home... selling means exposure. You need the maximum exposure possible, to generate the highest price possible. You cannot achieve this to the degree as an experienced full time Broker can.
  5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid ForSaleByOwner properties.
  6. Lack of negotiating experience and lack of pertinent information often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.
  7. The majority of qualified buyers are working with experienced real estate professionals....are you comfortable enough to stick handle them without another real estate professional by your side? You will probably be negotiating against an experienced professional.
  8. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream, this can some times make them wary.
  9. You only pay the commission to the real estate broker, if they successfully sell your home at the price you are happy with. With Mere posting companies, you pay them in advance to get your listing on realtor.ca. You've pre-paid so it doesn't matter to them if you don't sell....heck you just might consider paying them again down the road when you are ready to go at it again ?
  10. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher. And why would you use a lawyer to negotiate price when they are not studying the market like a full time Broker does? What could their argument possibly be?...."just because...."
  11. Only real estate sales representatives have access to the up-to-date market information. News reports cannot approach the timeliness or specificity available to real estate sales people. Further, real estate sales representatives are involved in home sales much more frequently than the average homeowner is. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling.
  12. Accepting an offer is one thing, ensuring a safe and successful closing is quite another. Real estate transactions usually always have problems on closing. At times, expecting the Buyers and Sellers Lawyer's to fight it out or resolve the problems, can sometimes mean the deal is lost. This is the time that your experienced real estate professional, can be the most important. Your Real Estate professional can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to mediate.