Okay, okay - so there can be legitimate reasons for dealing with a realtor. If you can't be around to show the property, if you don't have the temperament to deal directly with buyers, or if you don't have the time to familiarize yourself with the details involved in a sale, a good realtor can play a valuable role - for a price.

This Tip, though, looks at the wrong reasons for listing - at the attitudes and misconceptions that can cost you thousands of dollars needlessly.

Time

"We'll try by ourselves for two weeks and list with a realtor if nothing happens."

Say what? In a normal market, it can take a realtor 2-3 months to sell a listed property - if it sells (MLS statistics show that, on average, about half the listings realtors take don't result in sales). So give yourselves a chance - don't panic if your property doesn't sell in the first week or month.

"We have to sell right away, so we're listing."

You need a quick sale? Use the private seller's big advantage: offer the saved commission to buyers! Determine your property's market value, subtract the commission, then add back as small a bargaining cushion as you can live with, and advertise!

"We're tired of the hassle."

It's true: marketing your home directly is emotionally draining. So plan on selling fairly quickly, and stay in control of the situation. Qualify prospects with your ads and on the phone, so as not to waste your time on showings that can't lead anywhere. And don't wait for coy buyers to make it all happen - be clear about your priorities, set yourself a target, then do what needs to be done.

"We don't want a deal to fall through again . . . "

When you get a written offer, be careful about any conditions it contains: the fewer the " subject to" clauses - and the shorter their deadlines - the better. Each one must be very specific - otherwise, you tie up your property with no real committment from the purchasers.

Price and terms

"We know we're over-priced, but we can come down in the negotiations."

If you want there to be any negotiations, you must base your asking price on market value. Market value's not high enough? Either you have to sell or you don't.

If you don't, consider pulling back until the market improves, rather than letting your property acquire a reputation as over-priced and unsaleable. Alternatively, look for inexpensive ways to add some value to the place, through minor improvements, enhanced showability, or special terms. But in the end, realize that if your asking price is too high, you're simply helping to sell the competition.

Promotion

"Look, I'm interested in selling this place, not in advertising it!"

Unfortunately, the best asking-price in the world will avail you little if no-one knows about it. It can be difficult to pay out hard-earned cash now to pursue an uncertain future payoff (your saved commission). But selling is a numbers game - accept it. Advertise often - and use the Internet to enhance both the impact and scope of your BY OWNER classifieds.

Lack of Knowledge

"We didn't feel we could handle a sale ourselves."

Real estate is not rocket science. Browse a few books, check the Timely Tips column, and dive into our sellers library for advice on the ins and outs of selling. Send prospects to the buyers section to ease their way. And involve your lawyer early on.

If you've a question you can't answer, let us know. We'll either find some links to the information you require, or create a new topic for this column.