For Sale By Owner: It Can Be A Halloween Nightmare Story

At some point, every person with access to Zillow has considered ditching their agent when buying or selling a house. After your first purchase you may have thought, “I could have done that myself.” Side-stepping a Realtor may appear to be a good idea, but the experience may lead to your worst nightmare (think the Nightmare on Elm Street II when the homeowners learned about a death in the house only after having moved into the house. Did they have a Realtor?). There could be trouble lurking behind any and all of the doors to the home that you intend to purchase or sell. Unless you are an experienced real estate agent or an attorney well-versed in residential real estate, you may want to stick to your day job. Why not proceed pro se, you say?

1. Experienced Realtors Are Great at Marketing Homes for Sale – Yes, putting a sign up is easy and you can make a flyer on your computer. Your neighbors and the folks who drive your street will know the home is for sale. Practicing Realtors have tools to gain unlimited exposure for your property including personal websites, syndication systems that spread the listing through all areas of the internet and most have a vast network of fellow Realtors who are also helping customers and clients buy and sell.
2. Realtors Can Make Or Save You $$$ – Knowledgeable Realtors easily identify issues with a property and know the appropriate inspectors and/or repairmen that you need in order to determine the value of your home or potential home based on what needs to be done. From a buyer’s perspective, you will want to negotiate the lowest price based on the number of repairs needed as determined by the inspection. From a seller’s perspective, you will want to find someone who can help you mitigate any significant loss due to the repairs that you may have to make prior to sell. In many states the deed merges into the contract after the purchase of a house. Let me translate that for you. If you purchase a lemon and you did not know that it was a lemon, unless there was proof the transaction was clearly fraudulent, then you will need to learn how to make lemonade.
3. Realtors Get Paid To Buy and Sell Homes Every Day - They are trained, licensed and their years of experience have built a network of resources to get most anything home related taken care of. They handle all of the tedious back and forth communications that you may not have the time to do. If you do not employ a Realtor, you will be stuck making endless phone calls to hard-to-reach individuals, during daytime hours that you may not have to expend. Realtors have background knowledge, inside tips, and access to lockboxes. Things you may have to search long and hard for or jump through hoops to get.
4. Realtors Add Safety To The Home Sales Process – Safety is a very important aspect of buying and selling property. Realtors work hard to screen prospective clients and customers. They make sure prospective buyers are qualified to buy the property and not just “looking around.” In addition, Realtors use electronic lockboxes to secure your property and prospective Buyers must be accompanied by an agent with an MLS issued access key.
5. Realtors Know Where The Deals Are - In 2013 P.R. (post-recession), there have been foreclosures on every corner. Short sales are also common. The average Joe Plumber cannot navigate those waters. You need a trained professional to sift through the good deal from the bad and the mounds of paperwork that accompanies these types of real estate purchases. Even trained professionals can get blind-sided with the legalese contained in real estate contracts but an experienced real estate professional has the resources and knowledge to help you land a deal.
6. Realtors Are Bound By A Code of Ethics - If the agent does not uphold his or her fiduciary duty to perform his or her job to the best ability, you may be entitled to recourse. You, however, will not have recourse against yourself, only the deepest regret.

Think of the scariest movie you ever saw -- I am thinking along the lines of Stephen King’s “It.” Remember the clown, Pennywise, that turns into everyone’s worst nightmare? Scary, right? Not hiring a realtor could be akin to that clown with those razor sharp teeth.






Written by Atlanta Real Estate Brokers