My simple answer is "no"...however, I do know that some people sell their homes by themselves and everything goes well and everyone ends up happy! But, that is so often NOT the case! And, studies have proven that listing a home with a Realtor helps sellers make more money!
You might be thinking to yourself, "How can you make more money hiring a realtor when you are paying commissions?" That seems like a logical question, right? Let me give you a couple of scenarios to help you understand:
Here is one example: A person tries to sell their home "For Sale by Owner" (FSBO), they list it in a price range where other homes in the neighborhood have sold, which is what a realtor would do, but buyers automatically want to take 6% to 10% off the price of the home so that THEY save the money, not the seller. That just took away your savings immediately! Additionally, here are some of the things you pay for by paying commissions: Professional Photography, Marketing, MLS listing and services (which is where the most qualified buyers are looking!), help with negotiations, signs, ADs, and in the case of listing your home with me, light staging! All of those things are included in the commission! So, a buyer takes 6% off the top and you've paid to get a photographer, you paid for staging, you paid for advertisements, you paid for signs, among other things and the buyer ends up getting all the savings! That wasn't the point of you selling your home yourself at all! Plus, how are you going to make sure the buyer of your home is pre-approved for a loan?
Another example is when a seller doesn't truly know the value of their home and they list it at a price that is too low for the market! I actually had sellers ALMOST do this recently! There just weren't any good comparable homes nearby to help them come up with a fair price for their home and they were taking numbers out of thin air! I convinced them to let me list their home and they ended up with $2,000 more than if they had listed it themselves and gotten a full-price offer at the price they were originally going to ask! They later admitted that they didn't like negotiations and were overwhelmed by the number of people who wanted to see their home and the number of people that wanted to make an offer on it! They were so thankful that I was there to guide them in choosing one of the four offers they received. Would you know what to do in this scenario? How would you handle the constant phone calls and the scheduling of showings? How would you know which buyers were qualified? Needless to say, they were very thankful that they didn't list it themselves! They ended up in a much larger home than they ever dreamed because they made more money than they expected (They didn't expect a full price offer!) and they also let me help them negotiate a lower price on their new home!
Lastly, sellers might want to get more than their home is worth and ask a higher price for "negotiating room". They figure buyers will automatically want 6% or more off the top, so they price it about 10% above the market value. What do you think that home does? It sits there and it sits there....until everyone starts saying, "There MUST BE something wrong with that house because it won't sell". This is NEVER good! All you end up with after this happens are LOW OFFERS! People will think you are desperate and will eventually accept a low offer. This isn't a good place to be! Don't fall for this trap!
Bottom line: Realtors (with good reputations and who work hard for you) are worth every penny that you pay them! If you REALLY want your home sold, call a reputable Realtor! You won't be disappointed!
“The opinions expressed on this blog are my personal opinions, and they don’t reflect those of my company.”
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