Are you considering selling your home soon? Maybe you’re thinking you don’t need a Realtor. You can just do it yourself … how hard could it be, right? Well, if you remember when you bought your home, you may recall how intense the process was. Certainly there is more to it than just putting a for sale by owner sign in your yard. Here are a few things to consider if you’re thinking about going solo.
The real estate industry has a language all its own: title insurance, surveys, inspections, earnest money, option fees, escrow, financing, contingencies, disclosures, required addenda for specific types of properties—the list stretches on. Realtors are well versed in the transaction process. The time you’ll need to dedicate to educating yourself is better spent prepping your home to be sold.
There are also legal issues to consider. When you buy or sell a house, you will most likely enter into a legally binding contract with another party. Make a misstep somewhere along the way and you might jeopardize the transaction, lose money or find yourself named in a lawsuit. Realtors have the education and experience needed to avoid these situations.
Do you have the time?
Selling a home requires more time than you may realize. Your first step will be to determine an appropriate asking price, so you’ll need to analyze the current housing market in your area. Then you’ll probably consider using several marketing methods to reach the most buyers and respond to calls or emails about the home at random times throughout the day. And, of course, you’ll need to keep a flexible scheduled to be ready to let buyers into your home.
Showing your home can really eat into your free time, and you may deter a prospective buyer if you can’t work out a time to that works for you both. A Realtor shows homes for a living and understands how to accommodate buyers’ and sellers’ schedules so both parties benefit.
What’s the latest?
If you haven’t bought or sold a home recently, it won’t take long for you to find out how much has changed in the past few years. Changes to market conditions in your area and updated laws and regulations are just a few of the issues that Realtors stay current on. That way, they’re comfortable navigating today’s real estate transaction.
Return on investment
One common mistake owners make when selling is setting the price incorrectly. A mistake here may cause you to leave a substantial amount of money on the table, while overpricing your home can be equally detrimental. Homes initially priced too high may linger on the market, giving the impression that something is wrong with the property. Often, a home that starts overpriced eventually sells for less than if it had been priced right at the beginning.
The biggest reason most people try to sell their own homes is to save the Realtor’s fee or commission. But even if you just want to sell to a friend or family member, it is a good idea to have an experienced professional handle the business.
After seeing how much a Realtor can do to help you get the best value for your home, it’s easy to see that they are worth the investment. For more information about selling your home or to find a Realtor, visit TexasRealEstate.com.
The Greater Fort Worth Association of Realtors is one of more than 1,400 local boards and associations of Realtors nationwide that comprises the National Association of Realtors. As the nation’s largest trade association, NAR is “The Voice for Real Estate,” representing over one million members involved in all aspects of the real estate industry. The Greater Fort Worth Association of Realtors serves more than 2,700 members by providing MLS services, education, governmental affairs, etc. For more information, visit www.gfwar.org.