For some reason, many people see pricing and selling a home as a “do-it-yourself” endeavor.
Reasons for trying to act on your own behalf are compelling:
- Save the commission
- Easy to get information online
- I can sell and negotiate (I do it in my own business)
Are you really saving the commission?
If sellers don’t price a home right, it will not sell. Period. Most sellers who price on their own end up way overpriced and therefore don’t sell and get stuck with a “stale” listing. Older listings will eventually sell at a lower price than had they been priced correctly from the beginning.
Second, the buyers come in and know the seller isn’t paying a broker and will undoubtedly ask for the price to be reduced by the would-be commission amount or more. These types of buyers are looking for a deal. Homes that are listed without a broker are seen as prime pickings for “getting a deal” as the buyer predicts that the seller, who is not a real estate professional, isn’t being properly educated or advised. They buyer is correct.
Third, because the seller is doing all of the appointment settings, showings and marketing while working at a regular job and dealing with life, they will become worn down by the process and be more likely to become more negotiable. Being emotionally involved in their own home lessens negotiating abilities. Its been proven that homes sold without a Realtor sell for less than they would with a Realtor. Why suffer the hassle for no gain?
True, there is so much information available to people online that anyone who spends a decent amount of time studying the market online or by going to open houses can get some sense of value. However, even the actual Multiple Listing Service, never tells the real story about a sale or listing. Its not the true value. Zillow, Realtor.com and other listing sites don’t tell you that a particular house sold at a certain price because the owner had lost his job and was in great distress. It doesn’t tell you that the War of the Roses was happening in another and the owners had to get out before they killed one another. It doesn’t let you know that the seller wanted a quick sale because they bought a more expensive home and because they did so well on their buy, they were ok losing a little on their sale. As a non-industry expert, are you going to know and convey those stories to your buyer prospect? Those stories can only be told by a local Realtor who knows the neighborhood and is highly networked with other brokers in the area.
Pricing is an art. Its a combination of historical data, market trends, real stories behind past sales and current listings, comps and seller motivation. It takes many years of study in a local market to even come close to pricing well and its never perfect.
Besides pricing issues, full-time experienced Realtors have negotiating skills specific to residential real estate. Its a quirky business that combines psychology and business. Its unlike any other business I know. So if you sell cars or life insurance and therefore think you automatically sell houses, you are in for a big surprise. There is a reason that even builders and commercial real estate brokers list their homes with residential real estate agents. Its not as easy as it looks!
What do you have to lose by using a Realtor? NOTHING!
You will get more exposure since we are real estate marketing, internet and social media experts. Your home will be priced correctly from the start (if you listen to our advise). And, best of all, most of the work will be done by us. (you just have to keep the place clean and in showing condition)
My question to you is, who is more qualified to sell your home? You, who has a different career where you spend at least 1/3 of your time? Or me, a Chicago Realtor who eats, drinks and sleeps Chicago real estate?
If you are serious about selling or buying a home in the Chicago area or the suburbs please contact me: Jory Rozner Strosberg 847.436.4752 or email me
Jory Rozner Strosberg, THE propertyDiva!
223 West Erie, 3rd Floor Chicago, IL 60654
Chicago Realtor with experience throughout the city. Chicago real estate, Highland Park real estate, Glencoe real estate, Deerfield real estate, Evanston real estate, Wilmette real estate, Highwood real estate, Lake Forest real estate, Naperville real estate, Northbrook real estate, Oak Lawn real estate and Winnetka real estate Illinois real estate.