Real Estate News and More Frequently Asked Questions
eight reasons for "sale by owner's" need for a realtor
In most cases, a Realtor can sell your home for more money According to the 2000 National Association of Realtors, the
typical FSBO home sold for $113,000., compared to $129,900.
for a Realtor assisted home. This means that even if a FSBO
pay a 6% commission, they will realize $122,100.
A Realtor understands how to complete the many contracts, forms and disclosure statements required in a Real Estate transaction. According to the 2000 National Association of Realtors, difficulty with paperwork was the second biggest problem FSBO's had in selling their own homes.
It is a Full Time Job FSBO's do not recognize how many hours a Real Estate transaction will take from their busy schedule. Timing is everything in a transaction, the longer the lead time, the lest chance of actually closing the transaction.
Realtors have the market knowledge and tools to competitively price a home. o The Window of Opportunity is short. When your home first goes on the market you will see the most interest and activity. New listings always capture the interest of the real estate agents and current buyers, especially when they are well priced.
So, it essential to price your home realistically at the start and not count on reducing it later if it does not sell. Don't miss the peak of interest occurring at the beginning
According to the 2000 National Association of Realtors, setting the right price was the biggest problem FSBO's had in selling their own homes.
Realtors can be objective and can handle criticism. Realtors focus on how well the home suites homebuyers. All owners have emotional attachments to their homes and will emphasize the features they consider most desirable during a showing. However, Realtors are more attuned to the buyers' needs and are able to highlight the home's features that have the most appeal to each buyer.
Realtors can ensure that only qualified buys see you home and direct them on the best approach to obtain financing.
Realtors are experienced in pre-qualifying buyers so that an offer will not be made on a home unless the buyer can afford it
Realtors know how to negotiate and overcome objections.
Balancing offers and counteroffers, as well as handling many of the contingencies that usually accompany real estate transactions, can be frustrating or frightening for FSBO's. Realtors know the in's and out's of this and can provide value input during this trying time.
Realtors can get the transaction closed. Realtors know just what to do in this area. We have developed a list of the tasks that must be completed before the close including home inspections, City Certificated of Occupancy, Title Insurance, Building Permits for improvements and so on.