By Thomas Ervin
Thomas Ervin is a nationally syndicated real estate columnist.
(Reprinted with permission from Author)
It is not unusual for homeowners to consider selling their home without the services of a Realtor. It would appear that the seller would save money by avoiding the cost of a sales commission. As logical as this sounds, the opposite is often true because Realtors usually have the ability to get a higher sales price than an amateur. Here are some things to consider:
CREATION OF DEMAND
A Realtor can create more demand for a home than an owner acting alone. This increase in demand increases the price of the supply of homes that are available to meet this demand. Demand is created by commissioned salespeople who don't receive a paycheck unless they make a sale. So, Realtors are motivated to produce results. Realtors are always advertising to attract buyers to their listings. These advertisements provide a constant supply of buyers who are interested in buying homes in certain geographic areas.
Realtors also belong to multiple listing services. These services swing into action when a home is listed by a member firm. Information on each home is broadcast by computer to every other real estate agent who belongs to the service. This allows hundreds of agents to show your home to potential buyers at the invitation of the listing agent.
Correct pricing is best achieved by someone who is in real estate on a regular basis. The asking price must attract buyers, be competitive with similar homes, and allow for some negotiation. Many sellers lose money at the outset with improper pricing. It is best to use a professional when making the critical decision of the asking price.
THE POWER OF AN AGENT
There are numerous situations in which it is better that the buyer and seller not communicate directly with each other. A seller could become intimidated by the buyer and sell the home for less than it is worth. The seller also may betray how anxious he or she is and give the buyer reason to drive a hard bargain while negotiating. An objective and experienced Realtor can help protect the interests of the seller and obtain a fair market price.
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Steve Hatfield, Realtor®
CENTURY 21 Curran & Christie
25636 Ford Road
Dearborn Heights, MI 48127
Office: (313) 274-7200
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