Jo's Real Estate Tips
When you hear that someone managed to sell a home without representation, it’s likely that the sale was to a family member, close friend, or a tenant who was already renting and living there. These exceptional cases are not the norm, and there are powerful reasons why it is so difficult to make a sale “by owner.”
The biggest roadblock is that For Sale By Owners (FSBOs) aren’t included in the Multiple Listing Service (MLS) that licensed agents and organizations use. A sign in the yard and an ad in the newspaper are no match for the widespread exposure gained from a listing visible on the MLS.
Since the FSBO has no listing agreement providing for a sales commission, many agents won’t show these homes with no promise of compensation. Again, this greatly reduces the number of potential buyers exposed to the offering, not to mention the fact that buyers who do express interest will not have been screened by a professional to determine their qualifications.
Perhaps the most hazardous aspect of selling “by owner” is the potential for legal oversights and complications. Real estate transactions are loaded with potential liability for unrepresented and unwitting sellers. One overlooked form or improper disclosure could generate an expensive lawsuit.
Just as you wouldn’t enter the courtroom without an attorney, you shouldn’t sell your home without professional representation.
If you are thinking about selling your home or property in 2015, please allow me or one of my experienced, trained professionals to help you by providing the answers to your questions about the entire process. In today’s economy, it is more critical than ever to make the wisest decisions with the most information possible. REMEMBER there are no “stupid” questions. Please call me or my team today at 828-837-9199 or if it’s more convenient, please stop by our office located at 5510 U.S. 64 W., Murphy, NC 28906. My passion is to help you, and I sincerely appreciate the opportunity to do so.