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.
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.
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.
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
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
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.
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.
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.
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
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
8. You put yourself at risk of being
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.
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.
I am Bob Schmalz a California Licensed Real Estate Broker, I am the founder and owner of West Los Angeles Real Estate Group, handling all Real Estate needs from residential to investments To name a few of the cities we cover in West Los Angeles; Beverly Hills, Santa Monica, Brentwood , Pacific Palisades and Malibu are some of the most popular. Our beliefs are that our clients should have the knowledge they need to make decisions in there Real Estate Goals. In this way our clients helps us make the right decisions for themselves.
FIRST TIME HOMEBUYERS:INTEREST RATES BELOW 4% + LOW DOWN PA
"Bob both bought and sold a house for me. You could not ask for a better deal maker.
In this day and age of the internet and Redfin, we don't necessarily need a broker to find us properties. Bob, however, did find me my dream home. His advice on the buying strategy was out of this world. He convinced the seller and his agent to accept my offer before the open house. The seller had three other offers before the open house, but Bob sold them on me by putting together a full package including my resume to convince them that I was a serious buyer who would be able to close with no issues. The open house came and the seller received 10 backup offers. If he hadn't advised me on the strategy we used, I would have been in the middle of a bidding war on the house. And to cap it off, the accepted offer was below their listing price.
Bob knows the West LA market very well, but much more importantly, is one of the best salesman I've ever met. When you are negotiating, you would not want him on the other side."