Archive for ◊ May, 2010 ◊

Author:
• Wednesday, May 26th, 2010

“I’ll sell it myself and save the Commission!”

So you want to sell your home yourself and save the Commission you would pay a Realtor? Terrific!

Are you aware that in April of 2010 on Oahu there were 1,956 single family homes for sale and 2,469 condos? That is a seven months supply of inventory if no new homes come on the market. And last month 520 single family homes and 669 condos joined their older buddies on the Multiple Listing Service. And only 286 homes and 390 condos sold!

Bad House signage

Nice Signage there, Homeowner!

On top of that, 98% of homes are sold by Licensed Real Estate Agents. Do you really want to give your home only a 2% chance of getting sold?

You still want to sell it yourself? I do admire your tenacity! Let me ask you this; are you willing to do the tasks it takes?

You will need to:

1) Promote your home for sale in local media, online and maybe pay for a limited service listing just to get your home in the local Multiple Listing Service (MLS) so other agents can find your property.
2) Pay for signage.
3) Contact local agents to let them know you have a home for sale.
4) Take time off from work to be available to show the property.
5) Assess who is a legitimate buyer who has pre-approval from a lender and who is not ready, willing and able to buy.
6) Recommend lenders to buyers that need to get a loan.
7) Prepare and review contracts, negotiate contracts to a win-win acceptance of an offer.
8) Open escrow with a Title Company and keep escrow deadlines on track.
9) Carry Errors and Omissions Insurance so if there is a screw up in the contract you are covered in mediation and arbitration or worst possible case a lawsuit in court.

Hmm…so my job isn’t really as easy as you think, Mr. & Mrs. Seller. Selling a home in today’s market is a full time job, are you willing to give up yours to do mine?

Aloha from the Hawaii Real Estate Biz!