I had a client call me once when I was on vacation. She had received a private offer from a builder, who was trying to get her to sell immediately by claiming that she would save on the commission.
Since we had previously spoken about her home and price range, I advised my client that we could get her more money even after my fees. She agreed and we listed the home and sold it recently with 4 offers. After my fees, she earned $60,000 more than the builder’s private offer.
The lesson here is clear: make sure you have a professional involved when dealing with offers.
However, if you are still considering a private offer, here are a few things to think about:
- Do you have the time to acquire the knowledge needed to handle an offer?
- Do you think you can fully understand the legal language and requirements of an offer?
- Do you know how much the deposit should be and who should hold on to it?
Although you may make a profit by skipping the commission check, just be aware that if something goes wrong, you will also have to shoulder the consequences.
I can tell you that real estate professionals have trained hard for the career we have chosen. We have the certifications, specialized tools, a support community and a code of conduct. Good agents will always work for you because we want to build relationships, not make transactions.