Do Realtors sell their own properties?

A: Realtors should definitely hire a colleague to sell their own house.

The liabilities are too great, not to mention how emotional it will be to negotiate the terms for your home with the purchasing parties.

Realtors are held at a higher standard of practice, so all disclosure conversations need to be extremely well answered, since the agent is the owner.

If you represent yourself, you will not have the errors and omissions (E&O) coverage, because E&O only covers thirdparty claims.

Selling, moving, or looking for a new home also involves stressful activities that compound the Realtor’s duties. Negotiation, inspection, escrow and closing may spoil both experiences.

As a Realtor for the past 29 years, I personally employ a colleague to represent me in both the acquisition and disposition of my personal residence.

Juliette S. Vo, Vanguard Properties, 4159670108,

juliette@teamvosf.com.

A: The short answer is that a Realtor can choose either option. Generally, the three deciding factors are experience, money and stress.

Realtors are permitted to sell their own property and may choose to do so based on their experience and/or to save commissions. The added layer of complexity in selling our own homes is that it may require a thicker skin when it comes to receiving property feedback, working through a difficult negotiation, or when dealing with a challenging party.

Recently a colleague shared, “It would be too stressful to sell this home myself and we’d like to call in your expertise.” Realtors know the road ahead and may decide that it makes more sense for them to hire a trusted colleague to represent them. Having fiduciary representation to create a buffer while having everything handled can be the simplest way to reduce a layer of stress from the home selling experience.

Shawn Kunkler, Compass, 4155163302, shawn@shawnkunkler.com.

A: What Realtors should do is engage a colleague to sell their home for them — and there are plenty of good reasons why they should do that. Foremost, is that their professional liability insurance may not cover them or their broker for any negligence they may demonstrate in the transaction.

I conducted an informal poll of my colleagues, and the consensus came clearly down on the side of using another realtor to sell one’s property.

One colleague shared a funny story that when she sold her property that she owned with a business partner; she was so involved in pointing out everything that was wrong with the home at the open house that she ended up selling at a much lower price.

As the old adage says, anyone who represents themselves has a fool for a client.

Jane Smith, Dudum Real Estate,

9259981914, janesmith@dudum.com.