While putting your own home on the market may make you feel like you are pinching pennies and in total control, that feeling may very well fade, along with your ideal price point. The number of homeowners listing their property without a broker is at an all-time low, down to only 8%. This low figure is for good reason, several in fact, that every home owner should be aware of before listing. If you are considering taking the for-sale-by-owner plunge be sure to read this list and check it twice.
1.) You think you can sell easily with the house in its current condition
Homeowners have a tendency to assume they can put their house on the market as it sits today. They are comfortable enough sitting in their living room, everyone else will too right? Wrong. In truth, you need to declutter and depersonalize your home to allow potential buyers to see themselves in the space. A broker will be able to see the house from the buyer’s perspective and assist in staging for the best feedback.
2.) Your emotions will get in the way
As much as you want to believe you can hide your passion about your home, it is not that easy. Any owner would find it difficult to bite their tongue trying to fit in minute details that they think will entice buyers. In realty this practice could drive interested parties away. Hovering over tours through your beautiful renovations, peppering them with unimportant details about your inspirations, will seem less professional and more uncomfortable than agent led tours. Eliminating the emotions from the process are a must that your agent can consistently provide during your business transaction.
3.) Bad views and curb appeal
Mowing your yard is not enough. Your broker can help you will simple steps to bump up your curb appeal. The yard and appearance of your home from the street is a key draw for potential buyers that your broker will not overlook. Skip the online tutorials and struggles at the nursery. You will save time and money while increasing the change for prime offers.
4.) Network shortfalls
No matter how active you are on social media, your network hails in comparison to a good real estate agent. Your broker will have an existing network of hundreds of buyers and agents they can reach out to about your property within hours. Remember that the key to selling your home is getting it in front of potential buyer’s eyes.
5.) Your price is too steep
Your ideal price is probably too high. Your agent can present you with actual comps from listings in surrounding areas to give you the best chance of pricing accurately and selling quickly. Importantly, when listing your home with an agent you have the added benefit of the MLS or multiple listing service to allow for quick correspondence between your agent and their network of interested parties. This level of exposure is vital to making sure your property isn’t overlooked. Do not let you house sit on the market because your family memories are worth $20,000. Your house is worth what you put in it, not so much what you have gotten out of it.
6.) You have no or low offers
How to you know when to counter and when to walk? What if you get an offer for $25,000 under ask, or press to hard and lose a potential buyer? Brokers are built to deal with these high stress moments and have the know-how to navigate and negotiate for what you want. An agent can set pricing and marketing goals and stick to them without becoming susceptible to the stress.
7.) Upgrades needed
Bathrooms and kitchens can often sell a home. Brokers can let you know when updates are necessary and keep your expectations about your home’s appearance honest. Their interest is the same as yours, selling the house quickly and at the right price. Having an outdated countertop or 70’s cabinetry can spell the end for potential buyers, regardless of the charm you think it brings.
8.) Seller’s presence is annoying to buyers
Nobody wants a home owner walking them though the home tour. Pestering the potential buyer with questions and prodding them for feedback can be the top deterrent for someone searching for a new property. It may be impossible to resist telling your rehab stories but it will not translate to those dollar signs you may have been hoping for. You want the buyer to see the house as their new home, not your old one.
9.) Your neighbor is the freeway
If your home sits near a high traffic area or near a railroad you should definitely enlist the help of an agent. Your passion for your home just won’t cut it. You need someone with the skills in strategic marketing in order to downplay or refocus attention to other assets your house possesses.
10.) More money
And lastly, the most important reason to enlist an agent…more money. The median sale’s price for FSBO properties last year was $210,000 according to the National Association of Realtors. This figure is considerably lower than the median sale’s price with an agent at $249,000. A nearly $40,000 difference is difficult to ignore, especially if you are working on a college fund. The benefits of working with an agent make it well worth your time.
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