A tale of two private sales

A tale of two private sales

A tale of two private sales

“You get what you pay for,” she said. “If you get an experienced agent who knows how to negotiate, who spends money on advertising, who can do the open houses, who ensures they have a legitimate buyer, then you’re way better off than selling by owner.”

She also points to the liability issue - private sellers often don’t know what to look for when drafting and reviewing the legal documents. She also says that negotiating for yourself is harder than most people think; even she won’t sell her own properties.

“When I work for a client, I work with my brain,” she said. “But when you work for yourself, you work with your heart.”

Brokers whose clients are interested in this low-cost offering would be best served to manage their expectations; while the client may save money more work may be required on their part to close the deal.
 
 

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8 Comments
  • Larry Frondall 2014-06-18 11:37:31 AM
    I understand that sellers want to save money and they think that they can negotiate and navigate the sale themselves. However, no one seems to think of Security when they sell without a Realtor. When you open the door of your home to a potential buyer, what do you as the seller know about that person? Are they simply casing the joint for a robbery the minute you leave the place? Are they checking you or your family out for an Assault at a later time? I know the odds of this are low, however, we have had this happen in Calgary and we have had a Realtor slain a few years ago in a property that was listed for sale. When I had my real estate license, I would interview all buyers for almost two hours, getting their ID and checking them out before I would put them in my car to even look at properties. When you sell yourself, you don't have that luxury. Again, I know the odds are low that this might happen, but who wants to risk that?
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  • Clayton Carby 2014-06-18 12:00:32 PM
    This is a very informative article, however you never answered the question in the first paragraph. "But what do brokers – whose clients are interested in private sales – need to know?"
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  • Julie Cooper 2014-06-18 12:00:54 PM
    Larry! I was just thinking the same thing. As popularity rises in FSBOs, criminals will also start targeting more, in my opinion.
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