FOR SALE BY OWNER:   Here are the Facts

PRICING:    Setting the price correctly is very important.  If it's set too low, the seller will lose money.  If it's set much too high, he may lose because over-priced property doesn't sell and soon acquires a stigma that makes selling difficult.

EXPOSURE:   Many people are not fully aware of the importance of the Multiple Listing Service.  Through MLS, a listed property is made available to essentially all the other brokers and salespeople in the area.  In this way the property is exposed to potentially hundreds of potential buyers - many, many times the relatively small number who might respond to the owner's sign on the lawn or to a classified ad in the newspapers.  More exposure means more money in the seller’s pocket.

SCREENING:    Professionals routinely screen prospective buyers and show property only to those who are qualified to buy.  Do-it-your­selfers must be prepared to open their homes to everyone who shows up, including curiosity seekers.

SAFETY:    When a professional is involved, he/she accompanies all potential buyers when they inspect a listed property.  Without a professional, the seller may be placing himself or a member of the family in jeopardy every time a stranger knocks on the door and claims to be a prospective buyer.

AVAILABILITY:       During the hours when nobody is at home, the do-it yourself seller's property is off the market for all practical purposes.  Neither a phone call nor a knock on the door gets any response.  The potential buyer moves on to the next property on his list, and may never return.  In contrast, property marketed with a broker is on the market virtually 100% of the time.

SPEED:     If fast action is important, you need a professional.  Because of wide exposure through the MLS and aggressive selling techniques, property listed with a broker typically sells much faster than other properties.  

DO-IT-YOURSELF-BUYERS:    Expect to save all or part of the sales commission.  Why else would they respond to the owner's ad when it would be so much easier for them to engage the services of a professional?  The do-it-yourself seller must be prepared for prospective buyers not wanting to pay "full price".

SALESMANSHIP:   The owner is emotionally involved in the sale of his property.  In most cases the owner has no real estate or sales training.  That makes the average owner a poor salesman for his own property and particularly when negotiating price and terms.

COMPLETING THE SALE:  When a Realtor has found a willing buyer, his work is not finished.  It's his/her job to see to it that the transaction proceeds smoothly and expeditiously to a successful conclusion.  In actual practice, the services of a good professional frequently don't cost the homeowner anything; he or she is often able to command enough more for the property to fully cover the cost of the professional service.  To phrase it differently, in selling your home, you might as well go "first class" because it probably won't cost more and it might actually cost less.