Also - aside from the upfront costs of buying a sign, paying various websites to advertise your property, taking professional pictures, etc etc etc. - how much do you value your time? You'll be fielding questions, phone calls, and people knocking at your door constantly - and you'll also have to ensure you are home alot to let people in who want to see it.
The other thing to consider is - if you aren't at least paying a commission out to a buyer's agent, then you are eliminating 90% or more of the qualified buyers out there before you even get the sign in the yard.
The bottom line is - listing your home yourself "can" work - however you have a very high probability of the following happening:
1. Your home doesn't sell at all, and all the money you've spent is wasted.
2. Your home sells, but for much less because you weren't able to generate the amount of interest an agent could of.
3. The transaction turns into a gigantic mess, or worse.
Usuallly agents have marketing systems and the experience to get your home sold. Sold means from offer to closing. Many issues come up in the process and experienced agents know how to settle the seas to get your home sale closed. Agents sell hundreds of homes. When you sell by owner you have to deal with the buyers directly so buyers know you are not paying a commission and will want further discounts because of that. Why not give it a try yourself. If it does not work out call agents again.
As you know, the market has picked up and I can understand how you might want to sell your home by owner--especially if you've made good improvements and have a good location. If you're up to advertising, showing and negotiating it, then perhaps yous should try that route. However, as the other agents have pointed out, there are other considerations that would cut in to what you perceive to be a substantial profit. I'd also like to mention that an agent can also help you stage your home and will monitor and expedite the paperwork, attorney and inspection issues leading up to closing. These days, there have been many bumps along the road in many transactions from contract to closing, and having a professional on your side to help you navigate this road could prove invaluable. My company, Baird and Warner, also offers a concierge type of seller services ( at competitive prices) to help you keep control of the process and avoid many of the pitfalls that you might otherwise encounter.
I'd be happy to help you with the sale of your home. Please let me know if I can be of service.
Best of luck.
A good Broker will not cost you money, but will net you a higher price for your home. For many sellers their home is one of their largest assets and as the old saying goes " you don't know what you don't know". There are many pitfalls and issues that can arise, during the sales process that can cost you far more that the commission.
Another great reason to hire a professional is that the best way to show a home is to have the sellers out of the house. That way a buyer can feel comfortable enough to ask questions of the broker and to start to picture themselves living in your home. As a seller you really need the objectivity that your agent will bring to the table as well as the constant updating on what is going on in the local marketplace.
You know what they say about a lawyer who represents himself. It's not much different.
There are many good reasons to list your home with a real estate broker. The main reason is price. The price you will receive using a broker is greater (even after factoring in the marketing fee) than the price you will receive if you try to sell it yourself. By selling yourself, you will receive low offers and you won't know if the buyers are even qualified to buy the home.
Another reason is exposure. How will you expose the property to perpective buyers? Using a full time, full service agent such as myself, you will be exposed to all the realtors in the area, all the websites geared toward home buying, and all the print ads in the local area.
How about security? Do you want to show it yourself? How will you qualify these people? Do you want strangers in your home opening up all your drawers and cabinets?
These days especially, it is important and worthwhile to hire a professional real estate broker.
Coldwell Banker - Highland Park
2nd, most buyers have an agent, so you still need to pay the buyer side commission, and dont think the buyer will let you save the listing side of the commission. They want half of that since you are "saving" that commission money. Plus you do not have an licensed agent representing you looking after your best interests with full fiduciary care, placing your interests above their own. So in short, you save about 25% of the commission costs after paying half to the buyer agent and negotiating away half the listing commission. AND as a FSBO, you are far less likely to get a multiple offer scenario and if you did you wouldn't know how to handle it. AND the legal risks of perceived discrimination if you violate HUD rules.
Realize if you price the house right, get a good local agent to promote it you will have multiple parties interested and could sell fast. If it sells fast, does that mean the listing agent doesn't deserve as much commission? No because we are paid a success fee at closing and if you never close listing agent gets nothing. By your same logic, we should charge you more if you overprice the house and take 6-9 months to sell!
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You could paint your own house and save money. How is that going to look at the end of the day. Stick with a pro and get professional results.
Part of the reason that the agents you've interviewed feel that they can get the house sold quickly, is due to the marketing and their access to the multiple listing services... so they can expose your home to the largest number of potential viewers.
If you sell by-owner... you will still need to offer a commission to the buyer's agency, if you want to attract buyer's agents to show your property.
And keep in mind... "your home will sell quickly"... is probably part of their sales pitch... right up there with "you have a lovely home".