Looking to buy or sell a home in Merrimack Valley? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation
so you know what buyers will pay for your home in today's market. You
may also call us at (978) 852-3001 for a FREE home buying or selling
consultation to answer any of your real estate questions.
If you're thinking about selling your property on your own, you might want to think again. In a study done by the National Association of Realtors, 'For Sale by Owner' properties sold for 17% less than what homes sold for by professional real estate agents. In an effort to save themselves money, these owner/sellers are actually losing on a big pay out. Real Estate agents will not leave any money on the table because they are professionally trained, seasoned & specialized salespeople.
6 reasons why 'For Sale by Owner' properties should hire an agent:
- Owner/Sellers only reach a tiny % of buyers: Real estate agents have many connections and networks to reach clients locally, regionally, nationally, and even internationally. It's estimated that you will get 20-30 times the amount of buyers with a professional agent, as opposed to sticking a 'For Sale' sign in your yard.
- Sellers cannot save on commission if a buyer insists on saving it themselves: By selling a home by themselves, owners are trying to save on commission costs to realtors, however, if a buyer realizes there is no agent getting this commission then he/she will probably offer 10-15% below asking price since there is no realtor involved.
- Owner/Sellers are not protected by the Errors & Omissions Insurance Policy: This policy enables an agent to be protected by a million-dollar umbrella policy. Basically, this prevents any kind of lawsuit from impacting the seller based upon erroneous information that was passed along in the transaction. If you're selling your own property you would then be directly liable for any mishaps in the process since you took the reigns.
- Exposure by 'For Sale by Owners' is not Pre-screened: What I mean is that when buyers come to us wanting to buy a home, we have to 'screen' them. This means making sure that they're pre-approved and that they can actually afford to buy the homes that they are looking at. Owners selling their own homes don't really have this opportunity because it's time consuming, and they will often find their prospective buyers may not even be able to afford their home.
- Sellers Can't Always be Objective with the Sale: Selling a property can be emotionally draining, and when a buyer comes in with a low offer this can upset a seller. Real estate agents have no emotional investment in a property, so they can make more level-headed decisions throughout the process that will net you more offers and more money.
- You will be working against an army of realtors: Realtor's associations will resist working with you when they see that you are selling a property by yourself. You will then be working against an army of realtors who will be advising buyers not to look at your property. However, you will be working with that army if you hire a real estate agent.
