Each year many homeowners decide to maximize the profit on their home sales by selling it “For Sale By Owner”. At first glance, this is the most tempting option to most homeowners especially in the current real estate market with its rapid appreciation rate. Why pay substantial broker fees when they can pocket several thousand dollars themselves? While this attitude is completely understandable it doesn’t realistically reflect the services a professional realtor truly does offer.

Last year, according to the National Association of Realtors “Profile of Home Buyers and Sellers”, 13 percent of all home sellers chose the For Sale By Owner route. More telling than these numbers, is the fact that one third of all FSBOs sold their homes to someone they knew prior to the transaction which means that the actual figure of For Sale By Owner transactions to strangers is realistically at eight percent. This is a significant downward trend from 18 percent eight years ago…

Even more telling was that only half of last year’s FSBOs, according to the article, plan to go it alone again. Why? Many FSBOs are not aware of the increasing complexities of the transaction process, especially in California, with more complex disclosures and legal requirements required than ever before. In addition, they were often unprepared for the required time to market and show their property, the competitiveness of the real estate industry, and awareness of the various fees required for outside consultants, inspectors, appraisers, title companies, escrow and loan officers…

Most importantly, the facts are, sellers make more money when they use a real estate professional. According to the National Realtor’s Association survey, “Homes sold with the assistance of a real estate professional in 2005 sold on average for 16 percent more than For Sale By Owner sales.” As in many other industries, realtors vary in experience and skill level. Real estate is as populated with mediocre realtors as well as with excellent ones. However, hiring a skilled, full-time professional realtor, who is in the top twenty percent of his industry, to handle your sales transaction will be worth every penny of his or her’s broker fee.

Nef Cortez has been a licensed real estate broker and has held various positions in the real estate industry for over 25+ years. Visit his website at Diamond Bar Homes for information on foreclosures.

Article Source: EzineArticles.com expert Nef Cortez


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