Selling a home is no small venture. Whether you are selling to move up, move down, move away or for some other reason, you want the process to be relatively fast and painless. You also want to make as much money as possible.
Like fixing a car, some people will be tempted to do the job themselves, reasoning that they can "pocket" the real estate commission. But for most, this is a false economy that makes no more sense than trying to rebuild a car's transmission without the knowledge, training, experience or time needed to do the job properly.
Saving the real estate commission is not a true bargain because most buyers will expect a "bargain" when they see a For Sale by Owner sign. They will offer less than fair market value and the owner will be forced to negotiate upward to realize a small part of the anticipated commission savings. The do-it-yourselfer will also have to factor in the considerable amount of time and expense required to market the property, respond to enquiry phone calls, show their own property and fill out all the legal paperwork.
Selling your home is a complex procedure that involves large sums of money, stringent legal requirements and has the potential for very costly mistakes. That's why there are plenty of experienced real estate professionals to help you make the best sale possible. A REALTOR® has the qualifications, experience and commitment needed to do the work for you.
By REALTOR®, we mean a licensed real estate professional who is a member of a local real estate board - where there is one - and is also a member of the British Columbia Real Estate Association and the Canadian Real Estate Association. When you work with a REALTOR®, you can expect that person to adhere not only to provincial law governing the real estate industry, but also to a national code of ethics.
In addition to following up on details promptly and accurately, a REALTOR® is an expert in effectively marketing your home. Moreover, when you work with a REALTOR® your home will receive far-reaching market exposure through the Multiple Listing Service (MLS®). And the more exposure your home gets, the more likely you are to find a buyer willing to pay "your price".
Once you've made the decision to sell and have gone through the process of selecting a REALTOR®, you can depend on their support every step of the way. Here are some of the ways your REALTOR® can provide you with sound, effective counseling and professional service:
Under the Listing Agreement with you, a REALTOR® is responsible for looking after your best interests, including full disclosure of any information that may influence your decisions, as well as complete confidentiality.
You will receive a full explanation of the selling process and what to expect from the beginning, as well as answers to all your questions along the way. This will increase your confidence as you move towards a successful sale.
The REALTOR® will assess your home, it's best features and what will help it sell most quickly. He or she will help you establish a selling price that will appeal to buyers interested in your type of home.
You will receive advice on how to make your home look its very best. A REALTOR® is experienced in providing tips on ways to make your home sparkle without going to great expense.
A marketing plan for your home will be developed to help it sell quickly and effectively. This plan may include the MLS® listing, open houses, advertising in newspapers and other media.
The REALTOR® will also attempt to separate the lookers from the buyers - known as "pre-qualifying". This can be a real time saver because it helps ensure that only serious buyers visit your home.
When you receive an offer, the REALTOR® will have the knowledge and experience to negotiate an agreement on your behalf and according to your instructions. She or he will act as a mediator between you and the buyer and head off any potential conflicts.
If you decide to accept the offer, the REALTOR® will participate in drawing up a legally-binding contract that protects your interests throughout the transaction.
Once a legally-binding agreement has been signed, the REALTOR® will help you make sure the proper documentation is finalized and sent to the lawyers, that any conditions to the offer are fulfilled and that your questions and concerns are dealt with to your satisfaction.
Doesn't it make sense to use a professional?
Multiple Listing Service, MLS®, REALTOR® and REALTORS® are registered trademarks of the Canadian Real Estate Association. REALTOR® identifies a real estate practitioner who is a member of the Association.
Article courtesy of OMREB