New Year’s Resolution: Hire a Real Estate Professional
With the start of the New Year and the end of a busy holiday season, many homeowners are thinking about listing their current home for sale.
Believe it or not, about 12% of homeowners nationwide actually try to sell their own homes. Sadly, these For Sale By Owner (FSBO) homeowners may be losing tens of thousands of dollars by selling their homes without assistance from a real estate professional.
According to a 2014 national survey, the typical agent-assisted home sale results in a 13% higher selling price, compared to FSBO transactions. The national average for a FSBO sale, according to the survey, is $208,700, compared to $235,000 for an agent-assisted sale. That’s a $26,300 difference!
Homeowners who have lived in their homes for a number of years may have no idea about fair market value, often pricing their homes tens of thousands of dollars less than they should. If they don’t price their homes too low at first, FSBO owners will often price their homes too high, then panic and slash prices when they don’t sell quickly. Conversely, experienced real estate agents, such as those found at Landmark Realty Services, continually monitor fluctuations in the market and do research on price comparisons to ensure sellers list their homes at the right price.
Homeowners trying to price their own homes are like people trying to sell their vehicles without the help of the Kelly Blue Book! Most car owners have no idea about the true value of their vehicles.
In addition to “money,” what are some of the other reasons why hiring a real estate professional is the best choice for those selling homes?
If you try to sell your own home, you’re going to waste time with “looky Lous” and “tire kickers,” people who may be more interested in touring your home than actually buying it. A real estate professional knows how to qualify buyers, immediately eliminating those who clearly cannot afford to purchase nor have any desire to buy, saving everyone involved a lot of time. As a result, hiring a real estate professional means your home will typically sell much more quickly than if you try to sell your own home. As they say, time is money.
A real estate professional acts as an intermediary in negotiations and is available to do so through the entire transaction. A typical homeowner will often be “too soft” or “too stringent” in negotiations, either driving potential buyers away or selling for much less than they should. Having a trusted real estate professional acting as an intermediary will often result in quicker sales.
From disclosures to contracts, selling a home requires a small mountain of paperwork. With federal and state requirements changing almost every year, it’s vitally important that you stay up-to-date on those requirements. One slip can either impede your sale, or create a legal mess now or even years later. Trust a real estate professional and a quality brokerage such as Landmark Realty Services. Real estate professionals receive regular training to ensure all paperwork is done correctly and legally.
There are so many complexities involved when selling a home–-from the title search to inspections --that the process can be difficult and overwhelming for most homeowners. Do you have the extra 40-60 hours required to sell the typical home? At a time when you are considering a move, why add even more stress and work to your life? An experienced, professional real estate agent can make the home selling experience much less stressful for sellers and buyers.
Selling a home may seem like a simple task any homeowner can complete. But in today’s world of constantly changing market conditions, always-growing state, and federal government regulations, as well as, endless required paperwork, hiring a real estate professional to coordinate the sale of your home continues to be a wise financial decision.