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For Sale By Owner Blues

09 Feb

For Sale By OwnerWould you work on the foundation of your home yourself? Of course not! It takes special skills and know-how to make sure you are not destroying the largest investment you’ve made… your home. Not to mention there are codes and regulations that need to be followed as well.

I once made the mistake of attempting to make t-shirts at home to sell. I mean, how hard could it be? Needless to say I found out the answer to that question the hard way. Certain adhesives only work on certain materials. You have to make sure the temperature is set properly. There were a number of things I just was not prepared to handle. Most of all, the quality was not good enough for me to take money from people for them. In fact, I don’t think I would have given them away. So I ended up hiring a print company after wasting time and money. We all have felt that we could save a little money doing certain things ourselves. But let’s face it, there is a reason professionals get training to do their jobs.

Many home owners attempt to sell their homes on their own in hopes of saving commissions paid out to a REALTOR® only to find out they have bought into a lawsuit. Conversely, the buyers believe the seller is giving them a better price because there are no REALTORS® involved. But buyers need to understand that the seller is “selling” a product and wants the best deal for themselves and the seller needs to understand that buyers will seek to return a product if something is found to be wrong with it. At that time, a lawsuit may be forthcoming…. unless the seller has protected themselves with the proper disclosures showing that the buyer had every opportunity to discover any defects in the house.

Long story short, the job of an agent is not to just help find a buyer or a house, but to make sure the transaction is done legally, goes smoothly, and that all parties are treated fairly. A REALTOR® starts to really earn their commission after the buyer and seller agree on a price. Yes, proper contracts and disclosures are just that serious.

 
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Posted by on February 9, 2012 in Uncategorized

 

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