Recently I've had a few people ask my professional opinion on various aspects of real estate, some pertinent to a particular situation, some more general. In at least two of those instances people suggested to me that they had thought of selling their home themselves, without the benefit of a Realtor(R). Of course, I have a strong interest in suggesting that these people re-think this idea! I can understand the appeal - we are a do-it-yourself society, whether it be building or repairing something on a home, selling an automobile or growing your own vegetables. There's also the incentive of saving the commission cost. In light of these comments I think I'll take this opportunity to suggest why Realtors(R) are worth the brokerage fees they are paid - or at the very least, why I am worth the fee I'm paid!
Let's start at the beginning. You've decided to sell your home; how will you price it? How easily can you find the information of recent sales that are comparable to your home? A Realtor(R) has immediate access to this information via the MLS; not to mention the agent's experience and knowledge of the market and pricing trends. An agent can pull of sales for the past six to 18 months and see if prices are rising or falling; she can look at prices of homes currently on the market and can easily check which are overpriced by the number of days the home has been on the market. It's likely the agent has been inside homes that have been on the market and has a personal feel for how they compare with the home they are pricing. How many people take the time to look at new homes for sale every time one comes on the market? You can bet your Realtor(R) does.
How will you market your home? How many websites will you have access to? What MLS will you be on? There are some For Sale By Owner websites out there to be sure. I do not know the statistics for these sites. I do know that Realtor.com is one of the largest real estate websites out there and that every home on an MLS can be found on Realtor.com. You must belong to a Realtors'(R) association to belong to an MLS to get to Realtor.com. And without a doubt you must have web marketing for your home; 90% of all people who buy a home start their search online. Beyond Realtor.com, many agents also put their listings on other real estate websites. Century 21 has access to over 30 such websites nationwide (plus it is one of the most widely recognized real estate sites itself); I myself utilize a website host that farms out my listings to additional sites nationwide.
Will you be able to show your home yourself whenever you do have an interested party? Will you be reachable 16 hours per day via telephone and email? Will you have a smartphone that allows email and web access wherever you have cell service? It's likely your Realtor(R) has state-of-the-art communication systems and, because it's their job, they are reachable all day long, often outside "normal" business hours and on weekends as well as weekdays. They are available to bring buyers to your home and present it for you in it's best possible light. Your agent doesn't have to take time off of a regular job to show your home - that is her job.
How are your negotiating skills? Can you keep an arm's length from your own transaction in order to clearly evaluate an offer? Are you aware of the various aspects of an offer that can make a full price offer less desirable than one for less because of other factors in that offer? Your agent is there to represent and promote your interests. She can be a go-between, a buffer if you will, between your off-the-cuff reactions and what you really want to say to the person making the offer. She knows what makes a strong offer and what makes one weak and she can advise you of this so that you are able to make the best possible decision as you evaluate the offer.
Let's say you find a buyer who makes an offer and it's time for escrow. Do you have the knowledge to make sure your contract is strong? Do you know all the disclosures required by California law that must be provided to the buyers? Are you aware of the inspections a buyer will want to make and how to negotiate further based on any findings from those inspections? Can you deal with the title company and make sure the escrow will go through on time and with as little hassle as possible? Your Realtor(R) has access to the most recent California Association of Realtors'(R) forms; she knows all the disclosures that need to be made; she makes it her job to follow up with all the paperwork and make sure it is signed by all parties. Your agent knows the inspections and the various findings that can be made and can be there for you to help you negotiate further if needed with the buyers based on the findings from those inspections. Your agent likely knows the title people quite well from other transactions and can easily keep tabs on things to make sure everything is running smoothly.
At the end of the day, your Realtor(R) will have earned her fees and you will be confident that you have been well served. All your questions will have been answered, all the buyer's concerns addressed; negotiations will have yielded results that all parties can be happy with. You will be able to rest assured that you haven't forgotten some vital piece of paperwork that could later result in a lawsuit with your buyers. You will have peace of mind. And that is the bottom line - as I've stated all along, my goal is to make your selling experience a comfortable one.
If you have any questions about any of this please feel free to give me a call or send me an email. This is just a brief overview of all the aspects of real estate sales that your Realtor(R) can help you with.