Real Estate Selling Articles » Important facts to consider before selling

Date: 02/06/2013

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Important Factors to consider b efore selling

Before you decide to take on this very important and complicated process remember not even most Real Estate Lawyer's recommend selling your own home yourself in today's market.

Here are a few of the reasons why:

1. You are restricting your exposure to potential buyers (less than 10% of what a good real estate agent will generate) which theoretically means your home can take ten to fifteen times longer to sell

Interior2. The longer a home sits on the market the lower the selling price is. Why? Because with many tools at their disposal buyers know how long a property has been "For Sale".  Most buyers think that if the home has not sold after this length of time 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 an offer will follow. Remember that the buying process begins after they leave your home and a real estate agent will talk a prospective buyer through all the positive features of your property. Agents are trained to help overcome buyer remorse.

4. Because of the limited exposure you will very likely end up with a lower selling price. 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.

5. Most buyers find it extremely awkward to negotiate or even to talk directly with sellers and therefore avoid properties which are privately sold by owners.

6. Lack of negotiating experience and lack of 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.

8. Many serious buyers will pass by a private for sale sign merely because they recognize that it is not in the real estate mainstream, this can sometimes make them wary.

9. As most buyers now retain an experienced real estate sales person to represent them, you will probably be negotiating against an experienced professional.

10. Expected savings in agents fees will also be greatly reduced if you offer a selling commission to entice real estate agents to bring potential buyers. Agents cannot bring a buyer to your property unless the correct legal paperwork is completed.

11. If you are planning to use a Lawyer to help you negotiate the offer, then your lawyer's fees will be considerably higher.

12. Real estate agents have access to the up-to-date market information. Further, real estate agents 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.

13. You only pay the commission to the real estate agent if they successfully sell your home at the price you are happy with.

14. Accepting an offer is one thing, ensuring a successful settlement is quite another. Real estate transactions can sometimes have problems on closing. This is the time that your experienced real estate professional can be the most important.

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