Considering the sale of your home “by owner”? First, consider your reasons and their consequences.

Some “by owners” believe they can perform the same functions as a real estate professional, eliminating the need for representation. They soon learn the value of “third-party negotiations.” One of the most vital agent services is the ability to field buyer objections without bias, countering them with offsetting benefits. This eliminates the tendency to cut price to maintain buyer interest.

Other owners believe they can save the brokerage fee, yet attempt to ask the same price as an active, seven-days-a-week marketing specialist. They don't realize that many buyers who approach a “by owner” plan to save the same brokerage fee. They are often bargain-hunters too, or individuals not committed enough to consider contacting an agent.

Still other sellers learn the value of staying home 24 hours a day. Seriously motivated buyers rarely leave messages on a recorder, nor do they call back if they don't get an answer. That leaves the “by owner” with a dilemma - continue working or take leave from work to answer the phone.

Before taking a single step toward becoming a “by owner,” consider learning more about the process. It could save you time, precious equity, and considerable frustration.