Selling Privately

I really don't know why anyone would consider selling their house privately. Seriously. There are many things in this world that I have done for myself to save money, but selling my own house would not be one of them. And, usually the seller doesn't save any money - the buyer does.

I don't do the maintenance on my car. I don't fix my own computer. Heck, I don't even wash and iron my own shirts. I hire professionals to do these things. People who have the skills, knowledge, experience, and the tools to do the job properly. That means there is very little inconvenience or headaches to me.

When I sit in the broker-manager's chair for a brokerage handling roughly 1500 transactions a year, I see some pretty strange things happen in transactions that would make your hair stand on end. Sometimes the buyers or sellers are not honest and mis-represent facts. Sometimes people change their minds when it's too late to change their mind. And, sometimes buyers have bad credit and are not qualified to buy a house and lie about it. It's a tough world out there, and if you're going to sell your property yourself, you better be as tough as the lowest common denominator.

As a buyer, what would possess you to buy a house privately? You don't have to pay the agent (the seller usually does). You don't have access to all the properties that are for sale (the agent does). And, you don't have the knowledge or experience to negotiate the deal. How do you know you're not paying too much? It makes no sense!

As a seller, hiring an agent makes perfect sense. They have access to all the information and market data to give you an accurate evaluation on your property. The agent gives you maximum exposure to the most buyers through other agents, the MLS system, the internet, print advertising, agent and public open houses, and more. And of course, a basic marketing fundamental is that maximum exposure brings you a higher price.

Of course, let's not overlook the annoyances of dealing direct with the other party. Making appointments, dealing with "no-shows", broken promises, security issues, mis-representations. Without an agent doing these things for you and acting as a go-between, your tolerance can wear a little thin.

Let's not forget that when you use an agent, you only pay for a successful sale on your terms. This is the ultimate in a customer guarantee. "If I don't produce, you don't have to pay me". If you use a private for sale marketing company (who sometimes try to make themselves look like an agent), they get paid when you buy their "package". They have absolutely no interest in whether your house sells or not. They get paid up front and then they're gone.

Sometimes you get what you pay for.

As I look around our offices, I see some pretty outstanding individuals who bend over backwards in the best interest of their clients. They work until 11 at night sometimes and often all day Saturday and Sunday. And at the end of the day, they have some pretty happy clients who would tell you in a flash that they were worth every penny they were paid. It makes me very proud to be associated with these people.