I have talked about this subject before; however, in light of market conditions, I felt the time is right to discuss it again.
As I mentioned in our previous column, the Multiple Listing Services (MLS) inventory of homes for sale has increased dramatically over the last couple of months. This will make it a little more difficult for homeowners to sell their property themselves. There are several factors to consider if you are thinking of a "For Sale by Owner".
The number one problem you may incur is exposure to the market. Selling your home by yourself creates a marketing nightmare. Advertising in various newspapers is very costly, and the location in the paper and the timing of when to advertise can be confusing. What type of buyer are you aiming at, do you advertise before or after a holiday, weekends or during the week? Then you have to be available when the phone rings. A "For Sale" sign in the yard just won't cut it. Even more important is do you know who you are showing your home to and are they qualified to buy it?
Selling your home through a Realtor will not only save you time and aggravation, you probably will net a little more, even after paying commission and closing costs. Furthermore, most all of the closing costs including commissions are tax deductible from your profit, however, you should talk to your tax advisor on your particular situation. Once you list your property in the MLS, you expose your property to over 5,000 Realtors thereby increasing your odds of selling your property faster and for more profit.
Give serious thought to using a Realtor and a majority of your headaches disappear.
Ric Cornelius is the Broker/Manager of Sand Key Realty Sales and Rentals, Inc. Sand Key Realty has three offices with 40 agents. One office is at 740 S. Gulfview Blvd., Clearwater Beach, 727-443-0032; the second office is at 2701 Gulf Blvd., Indian Rocks Beach, 727-595-5441; and the third office is at 309 Belleview Blvd., Belleair, 727-461-4200.