Selling a home without a realtor to guide you can rob you of your precious equity. Real estate agents are trained and experienced in negotiation and, in most cases, the seller is not. Sellers must realize that their ability to negotiate will determine whether or not they get the best deal for themselves. With home prices on the rise and buyer demand strong, some sellers may be tempted to try and sell their homes on their own (FSBO) without using the services of a real estate professional.
Industry insiders claim that F.S.B.O. failure rates range from 75% to 95%.
According tosome of the top reasons why for sale by owner homes can cause major headaches:
1. Marketing your home online isn’t as easy as you think
2. Homes for sale by owner could be priced wrong
3. You could underestimate (or overestimate) how much money to spend on curb appeal
4. Showings are a drag
5. Preparing your own paperwork can be trick
The following are people with whom sellers must be prepared to negotiate if they decide to FSBO:
- The buyer who wants the best deal possible
- The buyer’s agent who solely represents the best interest of the buyer
- The buyer’s attorney (in some parts of the country)
- The home inspection companies, which work for the buyer and will almost always find some problems with the house
- The termite company if there are challenges
- The buyer’s lender if the structure of the mortgage requires the sellers’ participation
- The appraiser if there is a question of value
- The title company if there are challenges with certificates of occupancy (CO) or other permits
- The town or municipality if you need to get the CO permits mentioned above
- The buyer’s buyer in case there are challenges with the house your buyer is selling
- Your bank in the case of a short sale
The percentage of sellers who’ve hired real estate agents to sell their homes has increased over the last 20 years. Let’s get together and discuss all we can do to make the process easier for you.
If you are in the real estate market to buy a home, are a distressed home owner looking options, want to know what your home is worth or want to sell real estate, contact your Century 21 Allstars 100 Real Estate Agent, Steven Batista, today! I can offer selling tips, provide you with a Comparative Market Analysis (CMA) and more!
Source: Keeping Matters Current