Are You Giving Your Home Away

Dated: 06/15/2016

Views: 387

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Scenario: A well-educated and technically knowledgeable property owner thought he'd avoid Realtor commissions and offer his home for sale, himself. This seller examined his home's estimated value, found a purchaser and got the house under contract. All appeared to be clicking along, until, he realized he had misunderstood the information he'd gathered to determine the price of his home and under-estimated his home's value by more than $100,000.00. But how could this be, the information he had about his home seemed to relay correct value. In desperation, he requests to cancel the contract with the potential purchaser. The seller's oversight, ended up costing more than the Realtor's commission would have been for his home, almost 3 times over in legal costs to get out of the contract. 

This frightening scenario unfortunately happens to many FSBO (For Sale By Owner) sellers, everyday. If you're considering selling your own home, you may be one of the fortunate few who do valuate your home accurately, and get your price. You may even successfully find an interested buyer, and use pre-printed contracts to enter into the legal process of selling your home; believing everything is covered. You may even get to the closing table, but what happens along the way, could be a harrowing string of events. 

As an FSBO seller, you are responsible for all of the functions the average agent would take care of for you as part of their service. Beyond legal considerations, your agent will be able to market your home, at their expense, in avenues known to get the most exposure, including the local MLS (Multiple List Service) that gets the listing in front of potentially thousands of other agents with clients who are prepared to buy. Your agent will take care of scheduling showings, help secure your home during those showings, coordinate inspections, and take the awkward out of communicating with the potential buyer. At closing, your agent can help with completing the steps to a successful close. 

A licensed real estate professional can ease the fear and pain of selling your home, and quite literally save you from giving your home away. Real estate professionals are required by laws governed by their state of licensure to have state and nationally approved training related to the buying and selling of a home. This training includes ethical practice, translating their state's buying and selling contracts, education of state and local laws regarding the sale of a property, and a host of other fiduciary responsibilities in assisting a buyer or seller in the real estate transaction. Continuing education is required by most states for any agent holding a real estate license, and as well, insurance called Errors and Omissions (E&O) is required of the agent. Most firms provide supporting, on-going industry training for each affiliate Realtor, keeping agents abreast of changes in local markets and industry changes. 

If you're considering selling your home, call Wes Shields of The Shields Team, Keller Williams Realty,  and allow us to share with you our "Client First" philosophy, and show you the value of obtaining a market-knowledgeable Realtor to sell your home, and for the most money. Watch the short video below, and then call our office at 423-433-6517, or come by our Johnson City office at 1033 Hamilton Place to schedule a free consultation.  

Ready to begin your home search? Go to Johnson City Homes to get started today.

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Wes Shields

Wes Shields, Team Owner and Listing Agent for The Shields Team at Keller Williams Realty of Johnson City Tennessee, has a long and very impressive list of accomplishments in his 10+ years in the real ....

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