Chrissy Wins!

In part one of "Do you need an agent?", I debated with my wife to hire an agent or sell our home myself to avoid paying the realtor commission. Statistics tell us that using a professional agent fetches 30% more than not using one and alleviates potential headaches with purchase contracts, inspections, negotiation, closing processes, and walkthrough/possession. Christina was pushing me to use a professional, but I was stuck on doing it alone.

Then it happened. I noticed a large postcard in our old mail stack from a local Realtor, advertising his services, specifically about selling a home. We all get tons of junk mail, and we throw it away without a second thought. This one however made it past the cleansing and I decided to give the Realtor a call. I ended up interviewing three Realtors when it was all said and done.

Conclusion:

The final factor that pushed me over the top was opportunity costs. Our goal was to sell our house in the time we wanted and for a profit. I had to weigh the cost of hiring a professional vs. spending hours trying to do it myself with the odds of success stacked against me. Is it possible to be a successful FSBO? Sure. Anything is possible, and the stats tell us that successful FSBO's do exist. However, remember the following:

• FSBO properties sold for 31% less than when using an agent, much more than the cost of the commission. This is like giving yourself a root canal to save $200.00 only to have to revisit the dentist to shell out $1000.00 because you "did it yourself."

• Problems with the paperwork. Nobody likes paperwork, and if you are learning as you go, this aspect can be a nightmare.

• Too long on the market. If your pricing and sales strategy is not well positioned, you risk your house sitting on the market longer than it should have.

• Finding time to devote to the process. A home sale or purchase is an involved transaction, and with all the daily responsibilities in life, it's hard to stop everything and learn about real estate contracts, appraisals, funding, inspections, and closing documents. On top of that, you still have to pack and move to a new home!

I encourage you to sit down with a Realtor who will listen to your situation and can provide a strategy based on your needs, goals, and concerns. Every situation is different, and the information you receive is another way to get educated, even if you decide to go lone wolf and sell on your own.

BTW - I ended up choosing Larry Schottenstein, Owner and Broker with REMAX/Revealty to help sell our home. He took the time to develop a compelling pricing and sales strategy that made sense. Our house went on the market and into contract quickly. Revealty made the transaction smooth and were in front of the ball the entire time. The result was a profitable transaction that closed on time and with minimal headaches. The result was well worth the commission we paid.

The process and results Larry delivered were top notch, so good that I decided to join his team @ Revealty as an agent after years leading a corporate group as VP of Sales for a $100m company. I am a true believer in Revealty and how we go to market.

If you are thinking of buying or selling a home or if you know someone who is, please connect with me anytime. At REMAX/Revealty our job is to "reveal" information, so you are a more informed buyer/seller. This type of communication leads to a more profitable, easier transaction.

https://revealty.com/why-real-estate-buyers-and-sellers-should-not-bypass-real-estate-agents/