Below are common questions that home sellers often ask when considering the option of selling by owner or using a real estate agent to sell their home.

1. REALTORS are great for people who want to avoid the hassle, but I'm an educated, do-it-yourselfer. What harm is there in cutting out the middleman?

Most sellers who begin the process of selling a property without representation from a Realtor end up hiring one before long, as evidenced by a recent national survey that found only 11% of sellers are actually successful in selling on their own. Even a basic real estate transaction still has a lot of potential liability, and it's easy for consumers to stumble into legal trouble. A seller that overlooks even one required form or legally mandated disclosure could face a lengthy and expensive lawsuit after the transaction closes. Working with a Realtor ensures every part of the transaction is compliant with real estate law and can help you avoid the many pitfalls possible between the initial sales agreement and closing.


2. Why use a REALTOR when just sticking a sign in the ground will attract multiple buyers?

Can someone selling by owner attract potential buyers on their own? Sure. However, unless your home is priced properly and you can successfully write a solid contract, you will leave money on the table or fail to sell your home altogether. Research shows that, on average, homes sold by their owners sell 15% lower than homes sold by Realtors. Given that cost is a primary reason most consumers sell their own home, this statistic reveals they often take on that additional hassle and risk while actually decreasing their earnings.


3. What are the limitations involved in selling my own home?

There are many disadvantages to trying to sell your house on your own. Besides the hassle of doing everything yourself, history suggests that you will also suffer from:

	Inaccurate Pricing. Like many homeowners, unrepresented sellers tend to believe their home is worth more than comparable homes in the same neighborhood. Unfortunately, this leads to their home staying on the market longer and eventually achieving a lower valuation anyway. Realtors have expertise in pricing homes for sale and will ensure your home is sold at the best price possible and with minimum hassle.
	Access to the MLS. By far the largest and most accurate database of properties for sale, the Multiple Listing Service (MLS) is the primary information source home buyers consult when represented by a Realtor. Thus, unrepresented sellers often are unable to reach this large group of prospective buyers.
	Intimidated buyers. Research shows that potential buyers spend less time in a home if the owner is present. They often feel uncomfortable discussing their opinions of the property if the owner is present and are less inclined to make an offer if they know they'll be negotiating directly with the seller. Thus, the pool of prospective buyers is limited further.

The Benefits of Using a Realtor

There are many reasons to use a Realtor when buying or selling real estate. Realtors know the local market and will help you with this very complex process. Whether you are buying or selling a home, consider the following advantages to using an experienced Realtor:


Preparation For Sale

Every home seller knows that small details can mean big dollars when it comes to your home's appearance. A good Realtor is skilled in recommending repairs or cosmetic work that is proven to minimize time on the market and maximize prospect interest and sale price.


Expert Knowledge

Your Realtor has the most up-to-date market knowledge for pricing and financing a home and knows all about competing properties in your area. It's their business to know things like new developments or zoing changes expected in your prospective neighborhood that could impact home values.


Marketing

Effectively marketing your home is a huge undertaking for which most home sellers simply don't have the time or fully understand. Your Realtor not only has the time and resources, but also the know how and network to find qualified buyers for your home. The most common myth about Realtors is that their sole value is their access to the Multiple Listing Service (MLS). Though their ability to unite buyers and sellers through the MLS is important, their true value lies in their role as a project manager and advocate for clients.


Coordination

Selling a home involves many steps and a myriad of professionals from inspectors and appraisers to repair men and title companies. Your Realtor will help you coordinate this complex process, connect you with service providers they know and trust and ensure all aspects of your home sale are compliant with real estate law. Negotiating real estate transactions is very complex and negotiations occur at many steps throughout the process. Realtors not only have the experience and expertise to know when and how to negotiate within the transaction, they are also trained and experienced in objectively evaluating offers from buyers.


Time Savings

In choosing to work with a Realtor, many consumers are concerned with one thing and that's time. Is it possible to find the information needed to buy or sell a home on your own? Sure. However, the time required to educate yourself on real estate law, research home values and trends in your area, manage inspections and appraisals, create and distribute marketing pieces, make yourself available for showings, coordinate all the paperwork for closing, and complete the many other activities related to selling a home is overwhelming and unrealistic. For most consumers, it is simply not worth the time required.