When you determine to sell your house, one of the first
choices that comes up is tactical: do you try to sell it yourself as a Charleston
“For Sale by Owner” property—or do you enlist a real estate agent? Since your
object is to maximize your profit, you might think that most thrift-minded home
owners would decide to eliminate the agent’s commission and do the work
themselves. But that’s not the case.
The majority of sellers ultimately team up with a Charleston,
SC real estate agent. Sometimes they go the For Sale by Owner route first, but after
testing that method, change courses. The statistics show that the selling price
of Realtor®-assisted
home sales is higher (a $40,000 difference, according to the latest study) which
certainly would explain part of the reason. But other factors come into play,
too:
1.
Pricing: If you aren’t immersed in the
Charleston area’s real estate business five to seven days a week, there’s no
way you can have the intimate knowledge about the current market that comes
with daily work in the field. A real estate agent comes armed with extensive
knowledge of the local market and all the changes that have brought it about. It’s
extremely important to price your home correctly to sell it on the first
go-round. It’s a demonstrated fact that the longer a home sits on the market,
the lower its final sale price.
2.
Time
and Energy: A CharlestonFor Sale by Owner sign in the front yard means you are in charge, 24/7! That’s despite
any other demands on your time—for example, your job! One of the benefits of
using a real estate pro is that selling your property is our singular focus: our job! It means marketing, networking,
working with buyers. Doing whatever it takes to get your house sold is our
first priority. Lacking the same kind of time and resources, a For Sale by
Owner seller is at a clear disadvantage in the competition to sell houses. It’s
a marketplace where one missed buyer can mean the difference between a listing
that turns into a sale…and a listing that turns stale.
3.
Objectivity: The house is yours: you
designed or decorated it; you’ve fixed and painted and mowed and swept it. If
you took your work seriously, you feel at least some pride in how it’s
presented. Unfortunately, that’s a problem. Lacking objectivity in the sales milieu
can be one of the biggest hindrances to actually selling your house. It makes
it hard for you to negotiate—to see and acknowledge the flaws a buyer sees. And
it can make buyers wary of even wanting to negotiate with you in the first
place. Either factor can prove costly. Separating owner from sales agent opens
communication. It’s a relief for everyone!
4.
Paperwork: This is the most obvious
point. If you choose to wade into the paperwork/deadline process yourself,
you’d be wise to count on needing a bit of extra attention from a good real
estate attorney—if only to avoid potential litigation down the line.
5.
Security: It’s unfortunate, but
putting your house up For Sale by Owner in Charleston, SC (or anywhere) can
make you a target. Less-than-honest folks are out there—creeps who may
specialize in sellers who might not follow the proper measures for letting
people into their homes.
If you are looking into selling your own home this summer,
I’d like to offer you a complimentary property evaluation. Whether or not you
decide to go the Charleston For Sale by Owner route, it’s sure to be well worth
discussing what to expect from today’s market!
Interested in selling your Charleston area home? Visit: www.jeffcookrealestate.com
Interested in buying a Charleston area home? Visit: www.discovercharlestonareahomes.com
-Jeff Cook
Jeff Cook
Real Estate
Charleston,
SC
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