Page through any advertising publication that touts homes for sale by owner and you’re likely to see a few promotional success stories. “We saved thousands of dollars!” is the usual caption beneath smiling faces. Yes, you can sell on your own but under certain circumstances it may not be advisable:
– If your time is limited or you’re frequently out of town. Someone has to be available to take the phone calls and show your home.
“If you work, which most people do, your home is off the market for whatever time you’re not home,” notes Jill Steward, senior vice president/general sales manager for Baird & Warner Real Estate in Chicago. “We have someone available to prospective buyers virtually 24 hours a day.”
“I’m home during the day,” says Judy McCormack of Naperville, a current private seller. “If I had to come home at night and return 50 phone calls, that would be a lot of work.”
– If you’re divorcing and you and your spouse can’t agree on anything.
“If you’re having trouble making decisions, it’s better to have a third party giving advice,” says John T. Clery, a real estate attorney in Schaumburg and Lake Zurich.
– If you’re not motivated to do the work. It takes time and energy to write ads and a brochure, hold open houses, show your home and answer the same questions over and over. If yours is better spent elsewhere, turn the job over to the pros.
– If your buyer is likely to be a transferee. Out-of-towners rarely buy from private parties, says Steward. “The market is very busy right now with people coming in from other states. They are not going to walk into a `fisbo’ (industry jargon for `for sale by owner’) without knowing anything about the area and their only source of information is someone who wants that person to buy.”
