Important Points to Consider Before Trying to Sell DIY
1. You are radically limiting your exposure to potential buyers (less than 10% of what a good real estate broker will generate), which theoretically means your home will take 10 to 15 times longer to sell on the market.
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. If the buyer is represented by a Buyer Agent, those Realtors are professionally trained salespeople who know how to address buyers’ questions and sell the merits of a property.
5. A skilled and savvy Realtor knows how to properly prepare a home for selling which includes decluttering, repairs, staging, professional photography, and so many other tips and techniques. Do you really have time to manage all of these details with no direction and hands-on help?
7. Lack of negotiating experience and direct emotional attachment to the property, often will result in a lower selling price, or worse yet, a bungled contract and possible lawsuits.
8. In the Greater Toronto Area market, many houses attract multiple offers at the same time. This process needs to be handled carefully and fairly or you could face serious legal consequences. Also multiple offers are a perfect opportunity to get a very high price for a property and FSBO sellers have no experience in making that happen.
8. In the Greater Toronto Area market, many houses attract multiple offers at the same time. This process needs to be handled carefully and fairly or you could face serious legal consequences. Also multiple offers are a perfect opportunity to get a very high price for a property and FSBO sellers have no experience in making that happen.
10. Many serious buyers will pass by a FSBO home merely because they recognize that it is not in the real estate mainstream; this can sometimes make them wary and suspicious of what they might be getting into.
12. Savings in commission fees will also be greatly reduced if you offer a selling commission to entice real estate sales representatives to bring potential buyers. This amount is usually 2.5%.
14. Only real estate sales representatives have access to current market information. Further, real estate agents sell home every day. This familiarity leads to a degree of expertise that provides an edge on negotiating and successful selling that the average homeowner does not have.
16. Accepting an offer is one thing; ensuring a safe and successful closing is quite another. Real estate transactions often have problems on closing. At times, expecting the Buyers’ and Sellers’ lawyers to fight it out or resolve any problems, can often mean the deal is lost. This is the time that your experienced real estate professional can be the most critical asset on your home-selling team. Your Realtor can act as a great mediator. Lawyers MUST act only on their client's instructions and are not paid to negotiate.
17. Real estate brokerages have all the tools needed to properly and efficiently sell a home. This includes things like signage, lockboxes, computerized appointment booking systems, and access to the best resources such as photographers, stagers, home inspectors, repair people, lawyers, mortgage professionals and more.
17. Real estate brokerages have all the tools needed to properly and efficiently sell a home. This includes things like signage, lockboxes, computerized appointment booking systems, and access to the best resources such as photographers, stagers, home inspectors, repair people, lawyers, mortgage professionals and more.
