TRYING TO SELL YOUR HOUSE YOURSELF ARE YOU READY TO LOSE 100000 OR MORE

TRYING TO SELL YOUR HOUSE YOURSELF ARE YOU READY TO LOSE 100000 OR MORE

For sale by owner, FSBO, commonly referred to as FISBO, on the surface looks like it could be a good idea and that you save 6% commission. There is the first mistake you only save 3% commission because you have to pay the buyers agent the 3%.

As I will point out in my 8 reasons (and there are many more) you could be looking at 10’s of thousands of dollars lost, left on the table or paid in penalties. Add to this that it is a proven fact that a sale by an agent will net more then a self-seller you are maybe talking 100’s of thousands of dollars not 10’s

Before deciding to sell a house yourself talk to a Professional Broker such as myself (not an agent) and get the full picture and value of your house. Talk to me, I have studied trained and performed in your neighborhood in what needs to be done to sell your home for the most money in the quickest time under the safest laws.

Here is a link that will get you started in getting a free on line home evaluation. All you need is to fill in the address and it will automatically search and give you an estimate.

                                                            INSTANT HOME EVALUATION

8 REASONS NOT TO TRY AND SELL YOUR OWN HOME

1. Buyers' agents may not want to show your property to their clients.
In a for-sale-by-owner deal, the buyer’s agent knows there won't be a professional on the other end of the transaction, which can mean numerous headaches. Even if a client insists on seeing your home, the agent might discourage making an offer, citing the hassles and risks of trying to close the deal without a professional representing the seller. Every experienced broker has been burned by an FSBO transaction where the seller did not pay the full commission, or any commission at all, to the agent who brought the buyer. Also “FSBO” sellers are viewed as unrealistic, unreasonable and difficult sellers whom professional realtors have rejected.

2. It's harder to keep your emotions out of the sale.

Selling your home is typically an emotional process. Having an agent keeps you one step removed and makes you less likely to make stupid mistakes such as overpricing your home, refusing to counter a low offer because you're offended or giving in too easily when you have a deadline for selling your home. If you forgo an agent, you'll also have to deal directly with rejection every time a buyer's agent tells you her clients aren't interested. As the homeowner, it can be quite upsetting hearing some of the comments that are made by buyers and oftentimes their agents

3. It's not your full-time job.

Can you rush home from work every time someone wants to see your home? Can you excuse yourself from a meeting every time your phone rings with a potential buyer? At the end of a long work day, do you have the energy to take advantage of every possible opportunity to market your home? Are you an expert in selling homes? Do you have any experience doing so? Your answer to all of these questions is probably "no." An agent's answer to all of these questions is "yes." In addition, by going through an agent, you’ll get a lockbox for your front door that allows agents to show your home even when you aren’t available.    

4. Agents have a larger network than you do.
Yes, you can list your home yourself on the many sites on the Internet, But will that be enough? Even if you have a large personal or professional network, those people will likely have little interest in spreading the word that your house is for sale. You don't have relationships with clients, other agents or a real-estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate to waiting longer to sell your home and possibly not getting as much money as your house is worth.

5. You subject yourself to needless showings.
An agent can find out whether someone who wants to view your house is really a qualified buyer or just a dreamer or curious neighbor. It's a lot of work and a major interruption every time you have to put your life on hold, make your house look perfect and show your home. You want to limit those hassles to the showings most likely to result in a sale. It's also awkward for buyers to have the seller present, rather than the seller's agent, when they're touring the home. Nothing makes a potential buyer more uncomfortable than the current owner being in the house. When a seller is present, most buyers will rush through a house and won't notice or remember much about what they saw.

6. Negotiating the sale is tricky and awkward.
Even if you have sales experience, you don't have specialized experience negotiating a home sale. The buyer's agent does, so he/she is more likely to win the negotiation, meaning less money in your pocket. Not only are you inexperienced, you're likely to be emotional about the process, and without your own agent to point out when you're being irrational, you're more likely to make poor decisions. Sellers who go solo also typically aren’t familiar with local customs or market conditions. Agents know the pulse of the market and what’s driving demand, which gives them an advantage by knowing what terms are worth negotiating for and which are worth letting the other party win.  

7. You can't see what's wrong with your home.
Agents are experts in what makes home sell.  They can walk through your home with you and point out changes you need to make to attract buyers and get the best offers. They can see flaws you're oblivious to because you see them every day – or because you simply don't view them as flaws. They can also help you determine which feedback from potential buyers you should act on after you put your home on the market to improve its chances of selling.

8. You put yourself at risk of being sued.
A lot of legal paperwork is involved in a home sale, and it needs to be completed correctly by an expert. One of the most important items is the sellers disclosures.  A seller of real estate has an affirmative duty to disclose any fact that materially affects the value or desirability of the property. The seller can be held liable for fraud, negligence or breach of contract if he/she does not disclose properly. Unless you’re a real-estate attorney, your agent probably knows more about disclosure laws than you do. If you fail to disclose a hazard, nuisance or defect and the buyer comes back to you after they've moved in and found a problem, they could sue you. Agents can make mistakes, too, but they have professional errors-and-omissions insurance to protect themselves and to give the buyer recourse so the buyer may not need to pursue the seller for damages.

                                                            INSTANT HOME EVALUATION


Robert Schmalz California 
Broker Lic #01813025 
West LA Real Estate Group / Rodeo Realty 
310.505.5571 
11940 San Vicente Blvd Suite #100
Los Angeles, CA 90049

www.WestLARealEstateGroup.com   
Serving all of Santa Monica, Brentwood CA, 
Pacific Palisades and West Los Angeles 

CLICK TO SEARCH THE MLS   
    


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Dated: October 28th 2014
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