FSBO - For Sale By Owner
The Summerville market is booming and homes are selling fast. Let me help you, your friends and family sell your home for top dollar and quickly.
I was naive enough to once think I could sell a home on my own - oh was I wrong. Long before the days I turned Realtor I was relatively arrogant and stubborn (hard to believe) and thought how hard can it be. Currently, I'm in a great class with Keller Williams (who I work with as a Realtor) and I am looking to take my business to the next level and honestly help people by giving them real estate service with value. I run across FSBO's a lot and I hear the same argument. No matter how much it pains me that they are going down the wrong road most people have to learn through the process of pain and pleasure. 90% of our decisions are based on avoiding pain and often times for home sellers they think they can can save money by not listing it with a listing agent (like myself and one that specializes in Summerville, SC real estate). Below you'll find 7 reasons not to sell FSBO. Also, let me add that I just read today FSBO sellers get 0.85 cents on the dollar selling it on their own and significantly less exposure because buyer agents only want to deal with qualified, licensed agents to represent the other side of the transaction. The following information comes from my own research, experiences and this article (http://www.knot6.com/having-for-sale-by-owner-grief/).
Here are 7 reasons you should reconsider selling on your own...
1. MLS: Over 90% of people find their homes online and through agents. The best way people do this is through listing their home in the local MLS (multiple Listing Service). At Keller Williams we have two systems, the MLS and KWLS and once I put it on our KWLS your home goes to 350 real estate sites. You, as a FSBO are not allowed to put your home on our MLS which means that over 5,000 agents do not know your home is for sale.
2. Showing: SAFETY is your number 1 concern. As a Realtor I know every agent/buyer in and out of your house because we have digital lock-boxes that track them. If you list it on your own you have to be home for every showing and you never know who's coming into your room or your home or who's keeping track of your valuable items. Also, Realtors must go through background checks so there is an added safety feature. Lock-boxes keep the wrong people out of your home and the right type of buyers in your home and the ability to track them all. Call me to list your home and avoid the safety scares!
3. As a Realtor I don't want to deal with the homeowner: A buyer's agent signs a buyer's agency agreement with a client and then the seller's brokerage pays that buyer's agent his/her commission. Working with a homeowner there is no true way to know if the buyer's agent will get paid so most agents will not show your home without it being represented by a broker (such as Keller Williams Realty). This means that most buyers coming inside of your home are probably not properly qualified to buy or unrepresented which is grounds for a disaster or lawsuit. As a Realtor I will not accept an offer without pre-approval or proof of funds. Using an agent gets your more leverage and more exposure to buyers.
4. Pricing: I just spoke to a gentleman doing a FSBO who has his home priced $170,000 too high. You heard me correctly! Yes, I wish I were kidding but the comps show his house should sell around the $475-500K mark but he has it around $660K. I do not set the price and you do not set the price - the market does! You need to hire someone, Jason Gregg, who knows the market and will price your home to sell. I just had a house go under contract in 4 days because it was priced right. I was upfront with the FSBO gentleman and told him he's way overpriced and I'd be happy to help him price it more appropriately but I have not heard back from him. Every homeowner thinks his/her home is worth more than it is. Guess what? Homes that are overpriced do NOT sell. Please do not make this personal - it's business. You will find agents out there that will list at any price you want because they want business but you don't want them - you want honesty! The longer your home sits unsold the more costly it becomes!
5. I fought the law and the law one: Real estate contracts can get you into trouble quickly and unless you have a knowledgeable agent that understands them you are likely to get into legal trouble. One word, one sentence, one paragraph can be extremely costly so either hire me or you better be very familiar with contracts.
6. Do you want to make less money? Typically buyer's instantly knock off 6% from their purchase price because they know they can. If you had a listing agent you would probably make more due to our negotiating skills and our understanding of the contracts. Less than 7% of FSBO end up selling on their own and if they do they make less money. Hire me to get you more money and make this stress free. What's your time worth? What's your stress level worth? Trust me - I know what i'm doing and REAL estate is stressful.
7. So many people: How ready are you to deal with, negotiate with, schedule, follow up with, etc regarding your home? Here are just some of the people you'll have to deal, negotiate, schedule and call: the buyer's, their lender (mortgage lender, underwriter, banker), home inspector, CL100 Inspector, appraiser, seller's attorney, buyer's attorney, and buyer's agent (if they have one).
Let me take the stress out of all this for you. Give me a call today
-Jason Gregg, Realtor
Keller Williams Realty
Jason.Gregg@kw.com
843.696.8627
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