Don't Try This At Home

In my previous life as an Air Traffic Controller, we used to have a saying: "Don't try this at home!"... for obvious reasons. These days we live more and more in a do-it-yourself society, and if you are anything like me, you would rather do everything for yourself rather than to have others mess it all up for you.

But there are definitely things that one is better off entrusting to others. Buying and selling real estate is one of them. Is it legal to represent yourself in a transaction? You bet it is. Is it a good idea? Well, you know what they say about a lawyer who represents himself in court, don't you? If not, ask me.

Much of what real estate really is nowadays is a lawsuit waiting to happen. There are so many ways that a transaction can go off the track and/or come back and bite you years later. And of course, with every lawsuit, a new form is often born, adding to what is already a mountain of paperwork.

But there are other things that are critical these days, especially if you are considering selling your property. How do you come up with a sale price? This is probably the biggest reason that a property does not sell - a seller is completely convinced that their property is worth more than the market says it is. I'm sorry, but I have to say this: a seller is probably the least accurate resource when it comes to pricing a property so it will sell. A seller can say what they think a property should be worth, or what they want it to be worth, but that is usually far from what it will sell for.

And then there is Marketing... Real Estate Marketing is something that a good real estate professional should be totally on top of - if an agent can't give you a detailed, strong, and highly diverse marketing plan, then you should probably be talking to another agent. Marketing is another item that is best left to those who do it for a living.

A good real estate agent will lead you through this maze. So whether you are buying and selling - be sure you are well represented, but seriously folks, "Don't try this at home..."

Next time: What IS a Professional?

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