If 'For Sale By Owner' is Such

A Great Idea

Why Hasn't my Home Sold yet?

Perhaps they dream of selecting the perfect buyer for their one-time honeymoon cottage. Maybe they already have a buyer lined up and think the rest is just paperwork. More than likely, they hope to save money on commissions. Whatever the reasons for listing their home For Sale by Owner, thinking twice about their decision and working with a licensed real estate agent may end up saving the seller money in the long run.

Selling a home is more than putting an ad in the paper. Many homeowners think advertising their home is the first and last step toward finalizing what is probably the largest financial transaction of their lives. What they often don't realize is that finding a buyer is just the beginning. The process of inspecting and appraising the property, qualifying the buyer for a mortgage, obtaining title insurance, signing the deeds and loan documents, as well as securing hazard insurance often rests with the real estate agent and are generally handled seamlessly without the seller being directly involved. Without an agent, sellers are responsible for all these functions, usually occurring during the day when most people are working. For most sellers that means taking time off work.

Selling a home also requires finding qualified buyers. Having access to not only their own pre-qualified buyers, real estate agents also have the ability to attract other agentsí buyers by listing a home in the multiple listings. Sellers trying to find buyers on their own are limited to word of mouth, on-site signage and newspaper ads to attract buyers. This can mean homes languish on the market waiting for their perfect buyer to find them.

This can cost the seller money at the time of offer. If a home has been on the market for a long period of time, buyers will begin to wonder why and may be less likely to see it in person. The longer a home goes without a potential buyer, the more likely the seller is to lower their price. Having a real estate representing the home increases the chances the home will sell quickly at the price the seller really wants.

Whether in the form of reduced escrow hassles or a higher selling price, investing in an agent's commission will always pay dividends for the seller.

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