Tier One Real Estate

One of the most common questions that need to be addressed by home sellers is "should I try and sell my home on my own or should I use a Realtor?" Selling your home via FSBO (For Sale By Owner) may at first seem very appealing, after all just think what you could do with that 6% commission. But wait; there are certain things that must be considered before trying the FSBO route.

First of all you need to be aware that today over 7000 homes are for sale in the Salt Lake market, last month only 850 homes actually sold, that equates to an 8 month supply of homes if no other homes come on the market. Well, last month over 1200 homes went on the market.

And what's worse is the fact that only 2% of all For Sale By Owners sell the homes themselves and 98% are listed and sold by Real Estate agents. Can you afford to have only a 2% chance of selling your home?

You could play hardball and refuse to pay the commission on a home you sell yourself, but all that will do is either discourage the buyer from making an offer (after all if you don't pay the buyer will have to pay) because chances are that they will be using a Real Estate agent to buy... wouldn't you?

Another fact that you should consider when making a decision, is that on average a home sold using a Realtor with achieve 16% more than a home sold via FSBO. So most people wanting to save money by selling their own home are in fact financially losing out. This increased sale price is due to a number of reasons including, incorrect pricing (seller setting the price too high or too low) and poor or ineffective marketing.

The most effective marketing tool when selling your home is the MLS (Multiple Listing Service). Hands down, it's a fact. Unlike other states, Utah does not allow Realtors to provide MLS only listings (a MLS only listing is when a Realtor places your home on the MLS but you are responsible for all other aspects of the real estate transaction). This means that if you want your home to appear on the MLS you must list your home with a Realtor.

Another advantage in selling your home via a Realtor is that it saves you time. A good Realtor will guide you through the home selling process ensuring that you do the least amount of work and suffer the least amount of stress. The reality is that the only people that call you when you try and sell yourself is real estate agents - because they know you really don't have a chance of selling the home by yourself.

The reality is that in today's "buyer's market" you have to use every means necessarily to ensure you get the highest price, the best marketing, and the best representation available.