Have you ever thought about fixing your own car? Anyone can buy tools and parts but most people don’t have the knowledge, training, experience or the extensive time commitment to do the job properly. Besides this, there are plenty of experienced professionals to do the work for us.
Now that Spring is (just about) upon us, many of the homes in Guelph are being listed for sale. You’ve seen the signs…and undoubtedly you’ve wondered…”…should I sell?”
When you are making that pivotal decision, you will come across the ‘For Sale By Owner’ option which tempts many people because of the opportunity to “save” on Real Estate Commissions. For most people, this is false economy and makes no more sense than trying to rebuild your car’s transmission.
While you are considering your options, always remember that YOUR Guelph REALTOR®, Krystal Moore, is here to help you, from start to finish, with the delicate and important task of selling your home.
Here are some hard questions to ask yourself before deciding to go it alone:
1. Will you really “save” the real estate commission?
If you’re planning to sell your home yourself and pocket the saved commission, think carefully. Most buyers equate a “For-sale-by-owner” sign with a “bargain”. They assume that you’ll sell for a discount because YOU don’t have to pay real estate commission and as a result they’ll likely offer you less than fair market value. Negotiating your price upward to regain even a part of the anticipated commission savings will be difficult at best.
2. Do you have the time?
Without a REALTOR®‘s support, you’re the one who will have to write and pay for the ads to market your property, remain available day or night for calls from prospects, run open houses on weekends and show your property on short notice, screen potential buyers, fill out all of the paper work and do dozens of other things required to sell a home. Do you really have time for all of this?
3. How will you reach potential buyers?
Do-it-yourselfers are faced with the problem of how to market their home effectively. Are you prepared for the cost of advertising – including a professional looking “For Sale” sign?
4. Do you really know the true market value of your home?
Setting a sales price is perhaps the most difficult and yet critical step in the home-selling process. It requires extensive knowledge and training and access to market-analysis techniques developed over years of experience.
5. Are you ready to “pre-screen” every prospect?
Do-it-yourselfers are faced with the challenge of interviewing every person who responds to their ads or ‘for sale’ sign. How do you go about this without offending those who are clearly no serious or qualified buyers and yet protect your own interests and security?
6. How are you at selling and negotiating?
Selling real estate is considerably different from selling most other products and services. Many do-it-yourselfers attempt to “over-sell” and smother buyers with every tiny detail about the home. Your REALTOR® is a skilled intermediary and can market your home effectively and is able to ask the right questions and read the buying signs.
7. Do you have thick skin?
When we sell our homes, we’re selling a symbol or our dreams and memories. We’re also embarking upon a major change in our lives and no matter how prepared we think we are, emotions can run high.
With a REALTOR® acting on your behalf, most prospective buyers will remain anonymous to you – and you won’t have to hear every single comment, be it positive, negative or downright rude, being made about your home. Your REALTOR® also pre-screens each prospect and ensures that prospective buyers who view it are actually qualified to purchase your home.
8. Are you up to date on Real Estate Law?
Do you remember when you bought your home and had to deal with all of those papers that were thrown in front of you for your signature? Selling your home is just as complex as a buying a home and if you opt to be a do-it-yourselfer, you’ll either have to prepare your own legal documents when (and IF) an offer comes in or translate the language in the offer presented from the buyer. In the excitement of receiving an offer, are you confident that you’ll be able to recognize terms and conditions that are not in your best interests, or worse, are legally risky?
9. What about companies that offer ‘partial’ assistance?
Some firms offer support services to do-it-yourselfers. Most of these companies require a fee up front regardless of whether you sell your home.
If the idea of partial assistance is attractive to you, make sure you know what you’re buying! Some companies offer only a pre-packaged canned service that won’t deal specifically with the unique issues involved in selling your home.
One or two of these operations provide a more comprehensive – and more expensive – array of services. Before agreeing to work with one of these do-it-yourself firms, ask yourself: “Am I really getting my money’s worth?”
10. Let a REALTOR® help you sell your home!
Most people who sell their homes in Canada do so with the assistance of REALTOR®s. Of the few who do try it themselves, most change their mind and end up going with a REALTOR® because the process is too complex, too time consuming and too dangerous without the help of a professional.
Working with a registered real estate professional to sell your home – someone who is a member of the Canadian Real Estate Association – entitles you to an exceptionally broad range of services and benefits unavailable to do-it-yourselfers or to those who sell with partial assistance.*
For more information on buying or selling real estate in Guelph and surrounding areas, please get in touch with YOUR Guelph REALTOR®, Krystal Moore, today! Krys@Krystalmoore.com or 519-400-8394.
My goal is to be your trusted advisor and resource for all things real estate and I love meeting new people!
Royal Lepage Royal City Realty, Brokerage
Independently Owned and Operated
214 Speedvale Ave. W.
Guelph, ON N1H 1C4
Why choose Krystal?
I have over 15 years’ experience in Sales and Customer Service, I am motivated, dedicated and have a solid background in law. I consistently go above and beyond to make my clients feel important, valued and appreciated!
Want to know Moore?
*The above information has been taken from OREA’s “How to Sell Your Home”