SO YOU WANT TO BUY A HOME…If you are contemplating buying a home, or even building a home, there are some things that you may want to consider as you begin this process. One of the very first
Jun 6 2017 38167 1
THINKING OF SELLING YOUR HOME YOURSELF?
With the current real estate market seeing declining Days-On-Market (DOM) and low inventory, some homeowners are contemplating “going it alone” and making the decision to put their homes on the market themselves. Many feel that if they do not have to pay a commission to real estate agents that they will “net” more money for their property. We can certainly appreciate why a homeowner would want to try to “For Sale By Owner” (commonly referred to in the industry as a FSBO), but before making that decision there are a few things that you may want to consider.
One of the first things is that not only do houses sell for a higher price when the homeowner uses a Realtor©, but they also sell with LESS days on the market! The statistics show that homes sell for approximately 33% higher with the assistance of a real estate professional! For a homeowner, whose motive for selling their home themselves may be to “net” more money, these are important stats to know.
When a house is listed as a FSBO, many times that home will only be seen by those people driving by the actual property address. The home will not be listed in the local Multiple Listing Service (MLS) so local Realtors© may not even be aware that the property is on the market. When a property is listed with a Realtor©, however, it is entered in the local MLS giving it maximum exposure. With 44% of buyers finding their home via the internet and only 9% of them finding their home by yard signs, you can certainly see the advantage of working with a professional.
In addition, as a FSBO owner, every time you leave your house, your home is off the market! If the property is listed with an agent and marketed through the MLS, they have the ability to market that property 24 hours a day.
Some of the other advantages to using a Real Estate professional are:
They work with a “pool” of buyers
They advertise your property (online, in fliers and other publications)
They hold Open Houses
They prequalify buyers before showing them the property
They are equipped to handle negotiations without becoming emotional, including negotiations with:
(1) the Buyer
(2) the Buyer's Agent
(3) the Buyer's attorney
(4) the appraiser
They can help to ensure that your home is priced correctly by performing a Comparative Market Analysis (CMA) and looking at market stats.
They can objectively handle feedback – buyers communicate more easily with them since they are not the owner
They are trained to complete the necessary documents. Disclosures and regulations are now mandatory – even for a FSBO
One final factor which is of great consideration for many people today is that of SAFETY. As the owner of a FSBO, do you really know who is coming through your house? Do you know if they are genuinely interested in purchasing your home or just “scouting it out”? Do you have the ability to perform a background check before they come to your property?
These are just a few things that you may wish to consider before deciding to sell your home yourself. Selling your home yourself is certainly possible…but is it really the best option when you consider all the facts?
Treating customers like family is both a guiding principle and way of life for Walt and Emilie Davis. A husband and wife duo, they are dedicated to listening intently, understanding and matching indiv....
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