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Thinking of Selling Privately? Think Again!

Starfish The Gray Team Ucluelet Real Estate

If you’re planning on selling your home, you may have considered putting up a “For Sale” sign, see what happens and doing it yourself.  Many people have successfully sold their own homes, however they don’t always necessarily come out ahead financially.

Just as it’s not recommended to represent yourself in court, it’s not a good idea to market and negotiate your biggest asset without the assistance of professionals.  Here are a few reasons why it’s important to retain the services of a professional real estate agent:

  1. No upfront costs – You don’t have to worry about the various advertising costs which can quickly add up to a small fortune.  It’s also important to take into account the time you will spending on this.  As they say ‘time is money’ and it might make more financially sense to invest that time on other projects.
  2. Exposure – Your pool of potential buyers could be very limited, but a real estate agent can expose your home to the masses!  Selling privately can take more time and that brings up your carrying costs.  The longer a home sits on the market, the less it’s likely to sell for.
  3. Motivation – You  might think of selling your own home in an attempt to save money.  Buyers who enter the market without representation of a real estate agent know this and expect to share in your savings.  Realtors are paid on commission so it’s of their best interest to ensure you get top dollar for your home.
  4. Third Party Negotiator – Buying or selling a home can be an emotional experience.  Just one wrong remark can cause a deal to fall apart.  A third party negotiator provides an important buffer between the buyer and the seller.
  5. Experience – Real estate transactions can be fraught with potential problems.  Agents can advise you on various legal matters as well as multiple counter offer scenarios.  The can also help you stage your home, making it more attractive on the market and attracting the best possible selling price.
  6. Convenience – You’ll have to show your home to strangers on short notice which can be both frusterating and dangerous.  Real estate agents only work with qualified buyers so they won’t waste your time or comprise your personal safety.

Selling a home privately can be risky.  Don’t gamble with your biggest asset.  It pays to have a professional on your side to look out for your best interests and guide you through this complex financial and emotional transaction.  Do-it-yourself jobs are great in certain situations but when it comes to selling a home, it’s best to enlist the services of a professional.

Contact the Gray Team for more information. We'll be happy to help.

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