For Sale By Owner: Do we need a REALTOR®?

When buyers first begin looking for a home, many will ask “can’t we do this on our own? Do we really need to use an Arizona Real Estate Agent?”

The answer is yes, you can do it on your own. There is no law that prevents you from buying property without professional Real Estate assistance. You can search for homes, arrange showings, and even negotiate on your own.  The real question may be “do we want to do it on our own?”

Often times buyers are of the understanding that they could go it alone to avoid having to pay the commissions to the Arizona Real Estate agent representing them. In virtually all situations, this is not the case.  The commission for the sale of a home is paid for by the seller, not the buyer.

If you do decide to “go it on your own,” your choices will obviously be very limited. The only homes that you can buy without any Agent assistance are those that are “For Sale By Owner” (abbreviated as FSBO and pronounced /ˈfɪzboʊ/)–generally a small percentage of the market. These are home owners who, for whatever reason, have decided not to use an Arizona Real Estate Agent in the sale of their house. It may be because they think they can get more return by not paying a commission, or it may be because there was no Agent who would take their house listing at the price they demanded.

It’s a double edge sword for FSBO’s. By choosing to sell on their own to try to save the 6% commission, they will be marketing their property to a much smaller buyer pool which in turn will most likely result in ‘missing’ that perfect buyer who is currently working with a broker.

On a similar note, those buyers who are looking ONLY at FSBO listings in the hopes of getting a better deal will never, ever submit a full ask bid anyway as their very goal is to save as much money as possible on their home purchase. Not the ideal buyer in regards to a seller seeking top dollar for their home!

Here are just few reasons I could see why working with an Arizona Real Estate agent to purchase a home:

• It’s Free! Your REALTOR®’s commission is typically paid for by the seller.
• REALTOR®s who are a member of the Multiple Listing Service (MLS), have hundreds of Arizona homes to choose from.
• A REALTOR®s duty is to get the best possible price and terms for you.
• A REALTOR® should act in your best interest and provide you with all available facts about properties that could influence your decision to make an offer on a home.
• A REALTOR® will offer informational materials to help you make a realistic offer.
• A REALTOR® will prepare and present your offer (purchase contract) to the seller on your behalf.
• A REALTOR® should give you ‘what if’ scenarios about clauses, time frames, and requirements in a contract.
• A REALTOR® should accompany you on your visit to any new home development to work with the builder specific terms and issues.
• A REALTOR® will track and manage many of the tasks required to close your transactions, such as home inspections, title insurance, home warranty, and contract deadlines.
• A REALTOR® has the knowledge and expertise to negotiate and resolve any problems that may arise.

A checklist on the advantages of “On Your Own” or With an Agent

The purchase of a home is a major investment. A licensed, Arizona Real Estate professional will work by your side throughout the buying process to assure a successful home purchase.

There are many aspects of the transaction that can go wrong and often times missed by simply by ‘going it alone.’  Comparative Market Analysis can determine whether or not the house is worth the asking price. A  REALTOR® will have access to up to date information for you so that you aren’t paying too much on your investment.

So, ‘How do you decide? Personally, I believe there is too much money potentially involved to take that risk. Purchasing a home is a very large buy, probably your largest in a lifetime, why not have someone on your side that works in the industry to help make your home buying experience a memorable one.

I am dedicated to meeting your needs and the more information you can share with me, the better I can serve you.  Please contact me at 480.202.3558 to schedule an appointment so we can discuss more about your dream home.

Sincerely,

Candace Robinson