Chief Executive Officer
St. Charles Association of REALTORS®
Your doctor has bad news, you need surgery. So you decide to save some money and do the operation yourself! Sounds kind of dangerous, doesn’t it?
You get sued over a car accident. You decide to save the lawyer’s fees and represent yourself! Sounds kind of dangerous, doesn’t it?
You are about to undertake one of the biggest financial transactions of your life, the sale of your home. You decide to save the real estate commission and handle it yourself! Sounds kind of dangerous, doesn’t it?
It is amazing how many people, who generally would not take an important step in their life without seeking the advice of their doctor, lawyer or financial advisor, would undertake the sale of their own home without an expert by their side. Can you be your own lawyer or handle your own investments and taxes? Of course you can, but it is not easy. You have to have the time to research, learn, and evaluate the different legal or investment strategies. Even if you can do this, you don’t have the years of experience that a professional brings to the table.
Yes, you can sell your own home if you have the time and expertise to research the legal requirements, disclosure requirements, and regulations, as well as review legal documents and determine the most effective marketing and pricing strategies for your property. Then, of course, once you have this knowledge you must have the time, expertise, and energy to put your daily life on hold while you implement your plans. “You have a life, we let you live it! We’re Realtors!” is one of the slogans of the advertising campaign run each year by the National Association of Realtors. These words speak to the knowledge and expertise that you get when you employ a Realtor. The government requires a Realtor to be licensed to handle the sale of another person’s real estate. You wonder why. It is to protect you, the consumer. The person who handles the second most important investment in your life, children being the first, needs to have the knowledge and education to protect you, just as your doctor, lawyer and dentist have to be licensed.
I know you are probably thinking he works for the Realtors Association; of course, he is going to say to use a Realtor. You are right, I am very proud of the work that Realtors across the nation do to make the American Dream a reality for their customers and clients. The knowledge and expertise that your Realtor brings to the real estate transaction is a vital part of a successful buying or selling experience.
The commission you pay a Realtor is one of the best bargains in the marketplace today. Your Realtor will give you an unbiased opinion of the value of your house and any improvements you should make to your home to increase its marketability. They are experts in your neighborhood and community and know how to get you the best price in the shortest time. Your Realtor will make sure that you comply with all the legal disclosures that are required by regulatory agencies. Failure to comply with these rules and laws can result in litigation and, in some cases, criminal charges against you. Your Realtor will advertise and market your home and handle all the details regarding bringing potential buyers into your home. Your Realtor will help you evaluate offers and determine the financial viability of potential buyers for your home. This evaluation is critical to ensuring that there are no unhappy surprises on the way to the closing table. Your Realtor will also help you negotiate building inspection, possession and other contingencies of the contract.
Well, what if it doesn’t work? If that happens, the Realtor has borne all the risk. You generally owe the Realtor nothing if they fail to find a buyer for your home during the listing period. Your Realtor will work hard to bring your transaction to a successful conclusion. Successful Realtors, like any successful business person, build their careers not on individual sales but on relationships with satisfied customers and clients.
So, if you are thinking about selling your home, ask yourself, “Do I have the time, energy and abilities to learn all that I need to know about selling real estate, and handle all the details of the sale myself?” If, like most Americans, the answer is no, call your neighborhood Realtor today!