Realtors help navigate pitfalls of selling a home

Mr. Mohr, I read your recent article about the need to price a home correctly to get it to sell. If everything hinges on simply pricing it right, then where does your or any other real estate agents’ supposed selling expertise come in to play? In other words, if all I have to do is price our home right to sell it, we can do that without hiring a third party, and save a large portion of the costs to sell, can’t we? — Mary Anne in Hermitage

Thanks for the question, Mary Anne. I do understand your thought process, as it makes perfect sense. Except for one small detail: There are about 87 other important parts to a successful transaction in addition to finding a buyer who raises their hand and says, “I’d like to buy your home.” And without the partnership of an experienced real estate professional guiding you through the maze of potential “land mines,” it can be an exhausting experience, to say the least.

As a veteran real estate broker, I cannot begin to tell you how much things have changed in this business over the past few years. Not long ago, if you could fog a mirror, proving that you were alive, you could get 100 percent financing for a mortgage. Nowadays, you can put 50 percent down, have perfect credit and be able to walk on water, and lenders still are not sure (because of the new required standards) that you’re qualified for a home mortgage.

There is a huge difference between the various lenders — those who know how to get the job done vs. those who are still experimenting. Do you know which lenders are the good ones? Your real estate professional will.

That is only one of the issues that we get to deal with on a daily basis. To give you an idea of just a few of the other potential hurdles, here are some of the challenges my team dealt with in just the last few weeks that could be very daunting for a homeowner attempting to sell by yourself:

• Multiple appraisals that had issues and needed new legitimate comps pulled.

• Several inspection problems, which had to be negotiated against unrealistic buyer expectations.

• Radon results that required mitigation.

• Old termite damage. Most termite companies are reputable, but some bring their own termites if they can’t find any. Do you know who the good companies are?

• Survey problems, an encroachment that no one knew about.

• Issues on the title found the last hour before closing.

I assure you, Mary Anne — as tempting as it may be, if you do choose to sell your home on your own without the help of a pro, you will earn every dollar saved!

Send real estate questions to monte@themohrgrouptn.com or go to TenneesseeDreamHomes.com. Monte has been helping home buyers and sellers for more than 28 years.