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Have you really saved the commission by trying to sell your home yourself?
Have you met all the federal and state disclosure laws?
Do you have the necessary paperwork to comply with those disclosure laws?
Even though you are selling the home yourself, you must still comply with those laws and sign the necessary paperwork before transferring ownership to the new buyer. Not knowing about the law, is no excuse.
Quick Fact:
Just as you are trying to save the commission, by not paying for a REALTOR® services; a buyer also feels that they can save even more money, by offering less than your quoted selling price. The buyer knows you are not using a REALTOR®, so in their mind, they also save the commission by offering you less for your home.
Quick Fact:
Use of a REALTOR® usually results in your property selling for more money, in the shortest amount of time. Properties listed with REALTORS®, sell, on average, for 20% more than properties that are being sold by owners.
In addition, you still have to hire an attorney to make a contract, plus to all the work necessary to make sure that the buyer makes it to the closing table.
Looking at the above example, did you really saved money by selling yourself?
Below is an example of the value you receive when you use a REALTOR®:
1). Marketing of your property through the MLS (Multiple Listing Service), REALTOR.com, Company/Agent Websites, local and National print advertisements.
2). Screening and prequalification of purchasers before showing of your property. Appointments scheduled with you, prior to a buyer arriving to view your property.
3). Recommendations for improvements or changes to your property that will help the property to appeal to more buyers, which in turn helps your property to sell in the shortest amount of time, for the best price.
4). A market analysis of your home, which compares your property to properties that are currently on the market and have sold in the last twelve months. The market analysis will help you to set the best price for your home, so it will sell in the shortest time.
5). Consistent communication regarding your property via copies of your ads each month, summary sheets from the MLS showing both on market and sold properties to allow you to see how your property compares each month, prospect cards (lets you know who we sent information to regarding your property) and show letters, which give you feed back from the buyers that have looked at your home.(Buyers are less likely to tell a seller directly why they didn't like the home) This allows you to see your home through the buyer's eyes and make possible improvements to sell quicker.
6). All the required documents to comply with disclosure laws and to complete the sale of your property.
7). A REALTOR® will know the title companies, home inspectors, termite inspectors, surveyors, well & septic inspectors, local and state ordinances/zoning laws, which will aide in the smooth transition of selling your property by knowing potential challenges that may arise, before you get to the closing table.
When you are ready to sell your property ask yourself the questions below:
a). Am I possibly losing both time and money by trying to sell my property myself?
b). Can I afford the expense to pay an attorney to prepare my legal documents; make sure I have complied with state and federal disclosure laws and make sure my property closes?
c). Do I really want buyers (who I don't know) showing up at my house unannounced?
d). Will I be able to market/advertise my property to the largest market to get it sold quickly?
e). Do I know the market well enough to get the best price for my property, in the shortest amount of time.
f). Do I really want to handle all of this myself?
g). AND, last, but not least..... Do I really save money (commission) by selling my property myself? OR have I cost myself money, by not knowing the best market price for my property?
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