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For sale by owners: Is it
really worth all the hassle?
For-sale-by-owner residential transactions are
less than 15% of all home listings nationwide. According to a 1997 survey of
homebuyers and sellers conducted by the National Association of REALTORS®,
68% of respondents sold their homes through a real estate professional. Of that
percentage, 8% tried unsuccessfully to sell on their own. Only 13% of
respondents sold their own homes.
Further, the research shows that 50% of those
homeowners who did successfully sell their homes without a real estate
professional's help vowed never to do it again, because of the complexities and
hassles associated with the transaction.
Among the major problems cited:
Holding open houses
Arranging for appraisals and inspections
Understanding and filing paperwork
Helping buyers obtain financing
Having time to do it all
True, some homeowners may be able to save
commission costs by selling on their own or using discount firms. However,
people who try to sell their own homes deny themselves the benefit of a real
estate professional who is trained to sell real estate on the terms most
advantageous to their clients. An experienced REALTOR®
can provide up-to-date reports, and has a clear understanding of local housing
market and financing options. Brokers can provide more exposure, via multiple
listing services, than most homeowners can obtain on their own.
In the vast majority of cases, it takes less
time (and earns the homeowner more profit) to use a licensed real estate
professional when selling a home.
Experience Isn't Expensive, It is Priceless!
Center Toll Free Number is (888) 593-1125.
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This copyrighted information is provided courtesy of the
Stewart Title Guaranty Company.