Our culture is fascinated with the concept of Do-It-Yourself, and it’s no surprise that homeowners sometimes consider a DIY approach to selling. It’s even the subject of popular television shows. Court TV is popular, too, but most people wouldn’t act as their own legal counsel after watching a few episodes!
The label “For Sale By Owner” is a bit misleading. That’s because in fact, ALL homes are for sale by owner, since the homeowner holds the title. In most cases, real estate professionals are employed to facilitate the sale, but do much more than just “sell” the home. They represent the seller and market the property.
Once you go beyond selling, it becomes apparent that For Sale By Owner really translates to Unrepresented Seller. It sounds fun to sell something, but it’s not fun to be unrepresented in a competitive industry. Think about it: most buyers seek the services of an agent to save time and money. The seller is at a definite disadvantage if not armed with the same representation.
Unrepresented sellers report that the three most difficult aspects of going it alone are
- Pricing correctly,
- Preparing the home effectively, and
- Completing the complicated process and paperwork necessary for a successful close.
PDF Download: It’s More than a “Sale”