When you’re selling a home, it’s best to leave the heavy lifting to the professionals. The home selling process involves a lot of documentation, specific real estate language, valuation assessment, and other complex layers. Plus, you will have a harder time selling your Victoria home if you don’t have the knowledge or expertise to truly market well to prospective buyers. Homes that are sold without a realtor are For Sale By Owner (FBSO) homes, where the buyer’s agent knows there won’t be a professional negotiating the other side of the transaction. The agent will likely discourage the buyer from purchasing from a seller who doesn’t have an agent, citing the many potential risks. There are a few valid reasons why you shouldn’t opt to sell your home without a realtor.
Real Estate Agents Won’t Show Your Home
To further emphasize the above-mentioned point, buying agents are wary of recommending a home that a realtor isn’t selling. Agents will discourage buyers from considering the home because of the logistical hassles that the absence of a selling agent presents. Additionally, they are not guaranteed commission for the agent.
Some agents will only show an FSBO home because of low inventory, or the price of the home is really low, lower than the market value.
Buying agents perceive sellers who don’t have a selling agent working with them as difficult to work with and unrealistic about their expectations.
Revealing the Emotion Behind a Sale
Agents also hesitate to show FSBOs because they fear that the owner involved is strictly going off emotion rather than logic when making decisions, including pricing and commission. Emotional sellers will either overprice their homes or refuse to counter low offers because they were offended when critiques were made about their homes. A real estate agent drastically improves negotiations because they can negotiate without coming across as too eager or desperate, unlike the seller.
Foregoing working with an agent exposes you to the more brutal side of negotiations, with every negative comment or rejection easily bothering you. The professionals know the specifics and will prevent you from being exposed to potentially sensitive comments.
You Can’t Spot Unqualified Buyers
Agents are also good at spotting potential buyers who are qualified and serious about purchasing your home from those who are casual. They will know whether the interested buyer has the financial wherewithal, asking specific questions to determine the willingness and intent of a prospective buyer. They can also ask questions about how long the buyer has been looking for homes, if they’ve seen similar homes that fit their requirements, whether they are paying cash or are pre-qualified for their mortgages.
FSBO sellers don’t have these traits and can easily be tricked during the process and end up accepting an offer that wouldn’t be deemed acceptable by a professional. Things like price negotiations and asking about requirements take skill, and unless you have prior experience as an agent, you’re not in a strong position to handle these responsibilities.
Let the best realtor in Victoria, BC, be your guide throughout the selling process. Contact Brad MacLaren today to get started.
