Is it possible to sell without a Realtor?
A: The short answer is yes. For sale by owner is a common practice in certain markets. The owner takes pictures, posts them to alternate listing sites and then waits for a buyer to come along.
However, this situation is rife with pitfalls for the seller. Foregoing the Multiple Listing Service limits the home’s exposure significantly because most real estate company websites receive a feed from the MLS, so listings are widely distributed. Not all agents search these alternate listing sites so they won’t know about your home.
Some sellers may be adept at the subtleties of negotiating a deal. Others will be at a disadvantage when going up against a seasoned agent or a savvy buyer. Buyers tend to be less transparent with a seller, keeping pertinent facts to themselves or they might not point out deficiencies for fear of insulting someone. Sellers take comments very personally, so this creates its own challenges when trying to negotiate with them.
Historic data proves that FSBO properties sell for less than a fully marketed home. With an agent, you have vastly increased exposure, professional handling of disclosure documents, contracts, inspections, appraisals, etc., It may seem like a big savings to do it yourself, but when everything is considered, it makes more sense to let the professionals do what they do.
Adam Gavzer, Compass Real Estate,
(415) 505-0714, adam@gavzer.com. A: Yes, it is possible to sell your home without a Realtor.
The important question to ask is whether selling your home without agent representation is wise in terms of profit and risk. The most significant resource for selling real estate is the Multiple Listing Service, which exposes your property to every Realtor in the area and feeds most of the search engines buyers use, such as Realtor.com and Zillow. Without a Realtor, you would not have exposure through these key national and international marketing tools.
A Realtor can help guide a seller in ways to maximize the sales price with recommendations and resources for preparing and staging the home to sell, which almost always results in a higher sales price. Top agents also provide marketing services, such as professional photography, which is critical for an online presence, property specific websites and frequent contact with agents who have buyers specifically looking for homes such as yours. Another crucial concern is compliance with mandated disclosure laws and the liability a seller may be exposed to without being in full compliance.
Using an experienced Realtor will help reduce your liability and will almost certainly garner a much higher return on what is frequently the seller’s most valuable investment. Bernie Katzmann, Vanguard Properties, (415) 906-6000, katzmannsf@gmail.com;
Mike Shaw, Vanguard Properties, (415) 308-4281, mshawsf@gmail.com.
A: Yes, of course. If you understand the implications of the disclosure process, are able to market your property to a highly qualified audience and are prepared to exclude the advantages of an open market, then sell your own home.
That being said, selling on your own has some negative trade-offs. San Francisco’s market has expectations around thoroughness and market knowledge. Representing yourself could cost you exposure to the right buyer and result in less money after the final negotiations.
To some, for sale by owner means a savings on commission. However, in so doing you are forfeiting the benefit of professional representation — from disclosures to timing to the nuances of marketing a property to specific audiences. Basically everyone has the right to sell their own home, but I encourage all to weigh the negative trade-offs against the benefits of using the services of an expert. You could be surprised by how much your home is really worth.
Adelaida Mejia, Vanguard Properties, (415) 420-1308, adelaida@vanguardsf.com.