I wish I had Sylvia's resolve... For a primary residence: I think most of us would make poor decisions for emotional reasons. For an investment property: the detachment may make this possible, but not advisable due to licensing and liability risks.
In my office you are not ALLOWED to sell your own properties. For all the reasons mentioned, "an attorney who represents himself in court has a fool for a client"
I was also not addressing all the other issues â€“ legal, liability,. ..etc â€“ all the good logical thinking parts.
Update on the story I cited in my previous post â€“ the agent did put the house back on the market with another realtor representing him.. So I think he decided against to sell it by himself again after all.
In the end, because my husband and I were too emotionally attached, I found myself longing for another agent to handle our transaction.
Anyway, we ended up taking it off the market simply because we had a lifestyle change, but it was a good lesson that helps me better understand my clients now.
When I buy or sell a property I always use another Realtor to represent me. It is well worth the time, money and energy involved. I believe we can be too emotional when we are acting as our own representative. As you said, sometime we get in our own way.
As far as I am concerned, I think I can be pretty objecctive because I was a math/statistics major, and managed big projects/teams before, I can be very analytical and detached at points, that side of the brain. So, I think I will be O.K. but oh, wait until that complicated negotiation comes ...
Previous post http://www.trulia.com/voices/Home_Selling/What_are_the_drawb
I am pulling out my story about a local realtor, here it is again...
A very experienced agent put his house on market on MLS actually, and marketed it. The house is gorgeously remodeled top down, and looked great! After of couple fo times, it's now off the market.
When I chat with him, he said that he actaully had a pretty good offer, but when they got down and were negotiating the details, he could not detach himself from certain things and the contact fell through.
However, when I asked if he'd let other agent list the house when it comes back on market again, he said that he wants to list it himself again, but he has learned form this lesson and will try to treat this more like a regular sale rather than selling his own home