Everyone that owns or has owned property in the Windsor and Essex County Region has considered one time or another on selling their home privately or also known as For Sale By Owner (FSBO's). It’s human nature to want to save money when dealing with possibly the biggest transaction you’ll ever encounter. On the other hand it’s human nature to want to get as much money when dealing the sale of your house. But can you have the best of both worlds if you decide that you want to try and sell your home? The answer to this question 99.9% of the time is NO!!!! Especially in this Market........ Keep reading this real estate report and find out why For Sale By Owner vs. Hiring a Realtor is a difference between nights vs. days.
Here’s your scenario – your contemplating on hiring a real estate agent or selling your home yourself. You want to maximize top dollar for your property and real estate is sounding pretty easy, but it takes a professional Realtor and here’s why.
So why even consider using a real estate agent? SIMPLE – Buyers use Realtor's, why not it's a free service to the buyers with brokerage protection. Realtors are used and will continue to be used for the majority of home sales because selling a home is very expensive and time consuming and a good realtor will put more money in your pocket at the end of the transaction with a higher sale price and sell it in less time, versus trying to sell privately. How, simply put - increased market exposure means increased demand, realtors co-operate and have the majority of the buyers, realtors have better negotiating skills they do it every day for a living.
1. SAVE MONEY – Actually the only savings you will incur is the agent’s commission – BUT – Take note to items 1 - 3, will you be able to achieve top dollar
for your property that a professional real estate agent may bring to the table??? In this market you will loose money by not using a realtor!!!
2. COMPLETE CONTROL – over everything, which includes marketing, advertising, showings, and negotiating with legal liability. Realtors provide a common ground to stop buyers and sellers from killing each other.
1. Realtor’s Co-operating - There are over 1,000 Real Estate Agents with the Windsor and Essex County Real Estate Board who are working with buyers who you are competing with instead of working with all of them. Realtor’s co-operate with each other, considering the fact that each realtor has on average at any giving time 10 serious buyers on the go at any giving time why would you want to miss out on that opportunity. Realtor’s Co-operating create the ultimate buyer bidding war environment resulting in multiple cash offers $60,000 - $150,000+ over list price!!!
2. Advertising - Realtors provide and employ all the benefits of our full market system to expose your home to the most buyers possible. This creates the activity necessary for a bidding war environment to bring top dollar!!! FOR SALE BY OWNERS advertising is generally limited, making the home almost impossible for buyers to find.
3. Attracting wrong buyers - There is a misconception when people tend to look for FSBO’s homes. The major misconception is they feel they can save big money for your real estate property – ask around! People think that since you are not paying a real estate agent's commission they can get a great deal. Buyers have no problems asking for a further reduction because you are not paying commissions. For this reason most FSBO’s don't sell or sell for substantially less than similar homes listed by a real estate agents.
4. Showing your home - When selling your home without the guidance of a Realtor you have to be available to have people come through your home. What happens if you are at work? Unable to meet the requirements of the buyer. The buyer may move on. You have to listen to all the negative comments because they either hate your property or setting the stage for negotiating. Plus you have to put on a show and make them feel welcome in your home. Buyers are more comfortable when the homeowners are not there trying to sell the house. When the home owner is not there, a buyer speaks more freely – buyers tend to picture which child would go in which room, where their furniture would go, setting the stage for making an offer and more likely to pay more for your home.
5. Stressful and Frustrating - What if you are to market your home only to receive dozens of calls to find out buyers are actually looking for something different. What about those offers that are not even worth looking at? What about allowing complete strangers walking through your home at an open house? This process can definitely be Stressful and Frustrating.
6. Most of the calls you will get are from Realtors - A past Client of mind said to me that the fastest way to find a Realtor® is to put a for sale sign on your lawn. Realtors see FSBOs as hot leads. The sign on your lawn says I am going to sell one way or another, and most often after about a month later they call an agent for help.
7. FSBO can be a security risk - There are stories every year where Realtors® are accosted during showings. Not every person who responds to your ad or sign will have good intentions.
8. For Sale By Owner - Because it is so hard for one person to find the right buyer for a particular home, most FSBOs either list with an agent or take themselves off the market.
9. Home Staging - Realtors will provide valuable home staging recommendations, to help your house sell faster and for top dollar.
10. FSBOs are great targets for Fraud - Most people would not recognize the difference between a legitimate vendor take back 2nd mortgage offer and an "Oklahoma" that could cost you tens of thousands of dollars. Rates of mortgage fraud and identity theft have been rising. A Realtor® should be able to detect most mortgage fraud schemes.
11. Most Active and Motivated Buyers use a Realtor® - Why not it's FREE. When a buyer is interested in finding a place fast most often they will find a Realtor®. (Why wouldn’t they….. free no cost professional service to the buyer with complete brokerage protection.) People who have the time to drive around looking for open houses and FSBOs are not motivated to buy now!! They are willing to wait until they find a particular deal and they do not care how much or how much time they waste in their search.
12. Legal Forms - Do you know you could get sued for misrepresentation to a buyer……. Realtors are bonded and carry insurance. Do you know how to complete
the required forms? I find buyers sometimes get cold feet if the legal forms are completed after the fact by third party lawyers. It starts with their drive home after the verbal agreement is reached….. The first question they ask themselves on the drive home, did we pay too much for this house….. then it spins from there….. Why? This is a large financial obligation, most people want/need the assurance from a professional realtor they are doing the right thing. Remember when you sign a contract to buy or sell a property they are complex and are a legally binding document. An improperly written contract can allow the purchaser or seller to void the sale, or cost you thousands of unnecessary dollars. Have an experienced Realtor who knows the "ins and outs" fully explain the contract you are about to sign to you.
13. Financing / Home Inspections - Can you assist with the buyer obtain financing or home inspection. Remember this process is new to most buyers.
If you want your house sold...... Ask a full time Top Producer Real Estate Professional, contact me and I will provide you with a FREE NO OBLIGATIONS HOME EVALUATION. I will additionally provide information regarding effectively price, home staging and the correct and honest answers to your questions, and advise you what needs to be done to get it Sold!!! for top dollar in the shortest time. Guaranteed!!!
There is no cost or obligation for this valuable service. Contact me direct or fill out the information below to get started now.
