Back To Blog

When DIY Doesn't Pay

You know I'm always on the hunt for a good bargain and love to save money — AND I've come to realize there are times when trying to save money actually ends up costing me more, such as when we attempt to do things ourselves that turn out to be more complicated or involved than we expect. Anyone who has tried to fix a plumbing leak on their own knows what I mean!

With the wide availability of the Internet and online home listing sites, some people have taken on selling their house as one of those do-it-yourself projects. And while sellers may think they're doing themselves a favor by banking the fee typically paid to an agent, this is an enduring myth with hidden costs.

In fact, research conducted by the National Association of Realtors (NAR) found that in 2015 homes sold without an agent fetched a median price of $210,000, while those sold with an agent's assistance attained a median price of $245,000. This lines up with my own experience locally. I worked with one client who had not been able to sell his own home listed at $540,000 when he contacted me to list the property. After researching the market and neighborhood, I listed it at $575,000 and sold it at asking price. Not only did this more than cover my fee, but I was also able to assist him to get his house sold in a timely manner by using my connections to qualified buyers and the marketing resources I have built up over time.

An additional concern I'm hearing from people who have attempted to sell their own homes in the current inventory-starved market is that they're just not prepared for the response of eager buyers and are often overwhelmed by multiple requests for showings and have no experience to manage the process of comparing, countering and accepting offers. And many of the potential buyers making offers on a for-sale-by-owner (or FSBO) home are expecting to get a crazy deal because they know there is no agent involved in the transaction, which puts the seller at a distinct disadvantage. In fact, most sellers don't realize how many items there are to negotiate in a deal, including but not limited to scheduling inspections, ensuring proper staging, photographs and videos of the property, and buyer incentives or credits at closing.

If you're considering selling your home this is most likely the largest financial transaction you'll ever undertake — I strongly encourage you to work with an experienced full-time team who successfully serve your community year in and year out. Think about it — if you needed surgery, wouldn't you look for the most experienced surgeon who has successfully completed many procedures? Please call us and learn what we bring to the table and why it's well worth your time — and your money — to work with Suzanne & Company.

Add Comment

Comments are moderated. Please be patient if your comment does not appear immediately. Thank you.

Comments

  1. No comments. Be the first to comment.