My fiancé and I bought our first house earlier this year, and while we were very happy with the process, I’m not sure the seller would say the same thing. She was selling the home as a for-sale-by-owner, and let’s just say there were a few challenges.
Here are a few reasons why it’s best to work with a Texas REALTOR®, based on my own home-buying experience.
When we first viewed the house we ended up buying, the seller admitted to us that she didn’t know how much to ask for it. She decided to just ask what she had paid a few years before when she bought it as a foreclosure, even though several improvements had been made to the property.
A Texas REALTOR® would have done a comparative-market-analysis to determine the best listing price based on the home’s features and what similar homes in the area recently sold for.
In an attempt to save money, the seller also said the only marketing she did was to list the house on Craigslist, which attracted unreasonable offers and spam. This also led to the house sitting vacant for six months. The owner said that before we submitted an offer, she only had one serious offer that fell through 10 days before they were set to close.
A Texas REALTOR® has the resources available to market the property to a large audience and will help you determine the best methods for attracting buyers. This could be accomplished through the MLS, web and print ads, the REALTOR®’s personal networks, and other methods.
When we became serious about submitting an offer, we asked to see the Seller’s Disclosure Notice. Unfortunately, our seller didn’t realize that she had to disclose any known issues with the property. Had she worked with a Texas REALTOR®, he would have had her complete the form to notify buyers of any material defects about the house.
Texas REALTORS® have access to the required forms and know how to use them to stay in compliance. They also stay up-to-date on the latest rules and regulations related to the housing industry and will help keep you in compliance throughout the process.
The seller asked my REALTOR® questions along the way about the survey, the contract, and her closing costs. However, he had to remind her that because he represented me, the buyer, in the transaction, he had a duty to promote my best interests, not hers. While he still was required to treat her honestly, his primary responsibility was to me. He reminded her that she could always work with another REALTOR® who would guide her through the process while working for the best outcome for her.
My first-hand experience showed me that working with a Texas REALTOR® is the best decision you can make to sell your home quickly, safely, and for the most money … but it’s not just me saying it. In fact, HomeGain’s 2012 survey of sellers who used either a REALTOR® or attempted to sell their home themselves found that homeowners who used a REALTOR® were more than twice as likely to be successful than FSBOs.
While it’s true that you can successfully sell your home on your own, you may find it to be a long, expensive, and stressful process without the help of a Texas REALTOR® working on your behalf.