DIY home selling became a thing for several years because of the idea that if you knew enough about real estate, you could sell your own house and save on the commission. This became a trend for a bit of time but has since been seen less often. Why has it declined in what was a hot real estate market? That’s actually the reason, the market became so hot that sellers no longer had to worry about commission rates, they simply wanted to make sure that they maxed out their properties value and got the deal done as quickly as possible.
During different periods of the last several years, sellers would literally have several qualified offers within the first week of listing and usually have an agreement in place before the end of the first 30 days. That’s how hot a market we have experienced of late and it did not seem what the costs were mattered because it was still cheaper to buy than it was to rent.
Why DIY Selling Is A Mistake
There are people who are capable of selling their own homes because they have the knowledge and experience that’s needed. However, if you were to take a realistic number of how many DIY sellers are actually qualified to sell their own property, the number would be below 20%. Does that seem like a number you want to wager on when you are trying to buy a home? Of course not, which led to why many DIY sellers decided to hire realtors, they were not selling their own homes.
Having to sit there and talk to client and realtor over and over again, as they criticize your home and the price you want for it can lead to a breakdown in communication. In fact, homeowners have literally walked away from very lucrative offers and lost out on a lot of money because they thought dealing with the buyer themselves would make things easier. In reality, it didn’t and cost a lot of people money when they tried to sell their homes.
What Can A Realtor Do For You?
You already are very well educated on what a realtor does and that’s why so many people look at the DIY option. Yes, there are ways to learn the industry and especially the process of selling or buying a home, what paperwork needs to be done, how to move forward and so forth. However, it’s these little things that really add up and will soon help you to see why a realtor is your best investment when you are selling your home.
- Manage buyers: Imagine sitting in an open house of your own home and hearing person after person be critical of every decorating decision you’ve ever made, what you painted the walls, the way you set up your landscape and even how you’ve taken care of your home. That’s not something anyone can go through and keep a smile on their face. Along with that, buyers like to be aggressive with sellers which is where a realtor can act as a well needed buffer. Do not let them bully you because at the end of the day, you’re the one with the property.
- Manage buyer’s realtors: Another important reason why the DIY system proved not to be as effective as everyone had hoped is because of the stressful relationships that were created between the buyers realtor and the owner of the property. Because realtors know how to manage these transactions, they also know what buttons not to push and how to stay respectful during the entire process. Eliminate the realtor on your side, and the buyers realtor will do everything they can to improve the situation in their favor because it will impress their client. This may not mean tens of thousands of dollars from your deal, but it could mean you having to handle responsibilities to get the house sold that you should not be.
- Show you where improvements need to be made: Realtors have a keen eye that’s developed over years and years of looking at homes. They can spot little mistakes or issues that even an inspector can miss and they are always thinking in the way that’s best for their client. Why not take advantage of someone who knows how to spot damage to a roof, or see where water damage has occurred? Their experience can help you understand the work it’s going to take to get the house where you want it, especially in the short-term.
- Manage expectations: It is an emotional experience to sell a home. It doesn’t matter if it’s a property that’s very personal to you or not, it can take its toll on you and be a lot of work. Understanding the process is one thing, doing the work is another. Instead, many feel that the best and safest way to sell your property is to work with someone who can handle more of the chaos but also manage you as well. You will have certain expectations throughout the process and you need someone who can let you know which way the process is really going for you.
Managing your own property sale may save you some money. However, it’s been proven time and time again that investors look for properties that are sold under DIY situations because they know that they may have an advantage over the seller and utilize that to get more done on the house before they buy or even get the price lowered. Remember, you are no longer just selling to people who want a home, you are selling to savvy investors who want to make a quick profit.
Let Your Realtor Handle It
At the end of the day, the easiest and smartest way to sell your home is to have your realtor take care of things. Their guidance and wisdom in these situations are not only advantages to you, but will minimize the amount of stress and frustration you go through during the entire home selling agreement. Why take on all that work to save money if it may end up meaning you lose out on finding a great buyer? Invest in your realtor if you want your home investment to pay off.