Colby Sambrotto, founder of the website ForSaleByOwner.com, which lets people sell their own properties, has sold his two-bedroom apartment with the help of a real-estate broker at a 6% commission.
“At first he wouldn’t let me increase the price,” [the broker] said. “I told him I know what I am doing-the market is picking up.”
Not only could the For Sale By Owner guy not sell his own apartment, but a broker was able to sell it for more money. When you see the ‘For Sale By Owner’ guys using a Realtor, what does that tell you?
It should tell you:
1) It is not as easy to sell your home as ‘For Sale By Owner’ companies tell you it is.
2) It’s tough to set a price for your home when you don’t know what your neighbours have sold for.
3) Some people don’t have experience in negotiating legal contracts and don’t want to be negotiating legal contracts with people who are professionally trained to do so.
4) Real Estate professionals know how to market real estate and get properties sold for top dollar.
5) Real Estate professionals know how to protect you from liability and misrepresentation.
6) A Realtor will always have the upper hand in negotiations with a ‘For sale by Owner’ as they will have more knowledge concerning neighbourhood sales, current market trends, and market values.
7) Real Estate professionals understand how to read and write an offer with numerous conditions and clauses so savvy buyers and their Realtors can’t take advantage of you.
8) It takes time…lots and lots of time to sell a home. How much is your time worth to you?
These are just some of the factors you should consider before you decide to sell on your own. With a significant number of ‘For Sale By Owners’ ending up enlisting the services of a realtor, why not do it right from the beginning.
If you have any other questions about what we do, feel free to give me a call and I can help you decide if selling on your own is something you are prepared for.