Article by Michelle Johnson
The market is favoring Oregon home sellers right now, and that has moved some to feel “cutting out the middleman” is okay. Unfortunately, going the DIY route isn’t best for most sellers. Here are a few reasons to take down that “For Sale By Owner” sign and call a real estate agent.
Selling a Home Is a Job
You probably already have one of those, and it no doubt keeps you busy. That means you don’t have time for negotiating with the buyer (who probably has an agent negotiating on his behalf), the home inspection company (who is just looking for any little thing that is wrong with the house), and the appraiser (who may not feel your home is worth as much as you want for it).
Selling at the Best Price Requires Exposure
Approximately 9 out of 10 people who are looking to buy a home use the Internet to search. Your real estate agent can help increase the number of people who learn about your Oregon home being on the market, and thus the odds of selling quickly and for the price you want.
Yard Signs and Newspaper Ads Are Yesterday’s News
Less than 10% of all house sales come from putting a sign up in the yard (and only about 1% from newspaper ads). If you want as many people as possible to see your home, that means Internet advertising. The Internet and real estate agents are the two most common places people find homes. Why not utilize both by hiring a real estate agent who advertises homes online.
Industry Regulation Are Making It Tougher
Before you think about going the For Sale By Owner route, look into the amount of paperwork involved. There’s a reason why the number of homes being sold by the owner has dropped from 19% about 20 years ago to about 8% today. No one has the time for this kind of transaction—unless it is what one does for a career.
Get More Money from Your Investment
Most people who try to sell their own home are thinking they are going to make more money by not having a to pay real estate agent commission. This is faulty reasoning, however. It assumes that you can sell your own home for the same price that an agent can professionally negotiate for you. According to one study, agents sell a home for an average of $39,000 more than a homeowner. That means you still end up with more net value even though you have to share a little of the sale.
If you have a “For Sale By Owner” sign in your yard right now, it’s time for it to come down. Call a real estate agent today to save yourself time and get a better return on your investment.