Are you really the person to handle your home sale?

The value of a real estate agent is constantly discussed-especially in neighborhoods where prices seem to be going up every day. While consumers often complain about commissions-even reduced commissions-those persons attempting to sell their home by themselves overwhelmingly say they would seek professional help the next time.

While I’ve not agreed with some of the practices demonstrated by some
members of the National Association of Realtors, I believe the basic service they offer often saves, rather than costs, the average homeowner cash. The big money picture is rarely viewed from the end of the transaction. Instead, the home sale deal often begins with, “well, I have to pay the realtor 6 percent off the top . . .”

Reasons vary regarding why more than 80 percent of all people who attempt to sell
their home without a professional agent would never do so again. Two good examples surfaced in the past few days, different situations that needed more thought before the owners placed a “for sale” sign in the yard.

The first case had everything to do with personality and little with product. A very edgy, elderly man absolutely had his mind made up that he was going to avoid paying a real estate commission at all costs. It ended up costing him dearly because his home was his only real asset and he couldn’t get along with anyone who wanted to buy it. Knowing that you are “probably not the type of person” to be selling your own home is simply too much for some folks to hear.

Remember, some buyers want to pay as little as possible for your home and will highlight only the negatives when arriving at their offered price. Although some complaints may be true, a seller cannot afford to constantly be upset, especially if the anger constantly agitates the buyer.

Sooner, rather than later, the potential buyer will simply walk away from the deal and look for another home. Why hang in there and battle an angry seller if there is an easier buy in the same neighborhood?

It turned out that the man, Richard, actually netted thousands less without an agent. That’s because a veteran salesperson would not have taken the nitpicking personally, knowing that it came with the territory. Genuine glitches are common, yet the enormous pride factor can be significantly curtailed, and often eliminated, by letting the agent play the target for negative exchanges.

Richard, who had completed most of a major remodel to his own tastes and needs, was astounded when potential buyers even considered turning his meticulous workshop into an additional bedroom.

But the topper, as it usually is, was the asking price. Richard was absolutely convinced that his custom remodel had added immense value to the home. The work actually moved the house out of the norm for the neighborhood. In addition, friends a few blocks over in a more desirable neighborhood had sold their flawless home for a huge gain, influencing Richard’s price.

When Richard had set his price at an unrealistic level, it eliminated a large group of buyers who could not afford the anticipated payments that come with a fatter mortgage.

The second example involved five children attempting to sell a vacant lot held in the estate of their father. In a capsule, they did not do the research to know if the lot was “buildable” and ended up in a lawsuit when they could not deliver. A professional agent probably would have done the research and saved both sides a lot of money and anxiety.

For decades, health authorities have approved subdivisions based on standards deemed reasonable at the time. Those standards include adequate water supplies, height restrictions and house “footprints.” Many lots in those subdivisions have been sold and resold in good faith as legal building sites.

Now some state health authorities have ruled that numerous developments, under newly adopted criteria, are at maximum water and sewer capacity even while some lots remain vacant. Many of the affected water systems have never experienced shortages. Without water service, vacant lots could be rendered unbuildable and their market value could disappear.

In this case the kids did little, if any, research. None of them checked with local districts to see if the lot was buildable or if any structure could be remodeled. A thorough investigation would have clarified any building restrictions, view corridors, height limitations and setbacks.

Make sure you know the potential of what you are trying to sell. And, make
sure you know the potential of the person trying to sell it.
If you are not the right person and do not do well with all sorts of delays, legally binding documents, no-show buyers who “had to see the house this afternoon,” let somebody who is handle it.

Tom Kelly’s novel “Cold Crossover” is now available in print at bookstores everywhere and in both print and Ebook form from a variety of digital outlets. Follow real estate agent and former basketball coach Ernie Creekmore as investigates the disappearance of his star player on a late-night boat. Check out the national reviews and put “Cold Crossover” on your list.