Selling it yourself? Think again!

For every homebuyer, there is a seller. And for every seller, there is someone who has, if even briefly, thought about selling his or her own real estate. In the real estate field, property listed by owners is referred to as a "Fizz-bo" the pronunciation of the acronym FSBO, standing for "for sale by owner." Clearly, owners can and do sell their own property. There are internet sites offering all kinds of tips and suggestions designed to help you sell your home. I even offer a free home sellers kit that contains items that can assist. But hints to sellers on how to spruce up a home to help it sell are usually good ideas for every seller - even those who elect to use a professional real estate agent. The fact that the do-it-yourself sites feel it necessary to have articles on contingencies, credit scoring, lock in in low interest rates, buy downs and home inspections speaks volumes about the need for a professional to handle your transaction. Sellers deny themselves the benefit of using a real estate professional because they want to "save" money. If selling it yourself is such a good idea, why are FSBO transactions only 16% of national home listings nationwide? The National Association of REALTORS® announced an advertising campaign recently in which they hope to persuade FSBOs to use a REALTOR®. You can see the video by clicking the link at the end of this article. The FSBO spot illustrates the convenience and expertise REALTORS® bring to complex real estate transactions. It makes side-by-side comparisons between selling a home with and without REALTOR® expertise and lets viewers draw their own conclusions about which method is preferable. Despite the sellers markets in many locales and predictions the internet would diminish the role of agents, a recent NAR study found only 16% of homes were sold directly by owners in 1999, even fewer than the 18% in 1997. Also, the survey revealed the median selling price of a home sold directly to an owner was $113,000 while the median sales price of a home sold using an agent was $129,000. Sure you say, but those homes that sold for $113,000 didn't have any commissions to pay. Well, even at a high commission, those homes sold for $120,000 vs. the 113,000. That's $7,000 in your pocket - or a super nice flat panel tv for your new home! Often times agents offer a move-up program that can save you even more. What's even more telling, however, is that of those homeowners who did successfully sell their home without a professionals help, 50% vowed they would never do it again. they cited these issues: -arranging for appraisals and inspections -understanding and filing paperwork -helping buyers obtain financing and -having time to do it all Again, it should be emphasized that it is possible to save commission costs by selling a home on your own or using discount firms. You must understand, however, the trade-offs involved. Namely, you deny yourself access to someone trained in real estate terminology and practices, which can be most advantageous. Experienced real estate agents are able to provide up-to-date reports on comparable sales in your neighborhood. Because they work in the local market daily, they have a much better understanding of what is happening there and what financing options are available. If the agent is a REALTOR®, they can provide more exposure, via the MLS, than most homeowners can obtain on their own. In most cases, it takes less time to use a licensed real estate professional to sell your home. If you do elect to use a licensed real estate agent, how do you know which one to pick? See my FAQ's for some questions to ask and things to consider. Any good real estate broker keeps their clients' interest in mind at all times, provides frequent status reports and has a clear understanding of the housing market as it is today. To maximize exposure and minimize problems, enlist the services of a broker. Your peace of mind and a great deal of money are at stake. With professional assistance, the home-selling process can be much easier! See the NAR video here: http://www.realtor.org/pac.nsf/video?OpenForm&Database=pacmediaV.nsf&FileName=XNWN-0604.asf