Sure, it’s a legitimate question: Can you sell your home without the representation of a professional Realtor?
The legitimate answer is: Of course, you can — but that begs the next question of whether it makes sense to do so.
One assumes that sellers want to obtain the highest price possible. Otherwise, the home could simply be auctioned, or sold to the first buyer who offers. Getting the best price depends on exposure to the widest and most qualified segment of potential buyers.
An ad and a yard sign are not enough to create that exposure. While Realtors spend untold dollars on advertising and signage, those only attract about 20 percent of actual buyers, so just one ad and one yard sign will yield even less.
So where does the lion’s share of motivated buyers come from?
In a real estate firm, they come from cooperating brokers and Realtors. It’s logical, since serious buyers seek the assistance of Realtors who save them time and money by matching their needs against large inventories.
The only buyers attracted to properties “For Sale By Owner” are ones who want to save the same commission that the sellers do! You can choose to represent yourself in this competitive industry, but it may cost you.
Remember that a bargain is not measured by what you pay, but by what you get.
— Elaine Abercrombie, a broker with Abercrombie Fine Homes, is president of the Santa Barbara Association of Realtors. She can be contacted at elaine@AFHomes.net.