Before listing your home for sale, many home sellers are tasked with the decision to hire an agent or make the venture alone. While the FSBO (For Sale By Owner) avenue might save you a little money by avoiding the commission cost of a listing agent, a real-estate transaction is best navigated with the guidance of an expert.
Recent data from the National Association of Realtors reveals that only 7% of FSBO attempts were actually successful in 2017. Typically, these sales were made when sellers already had a buyer in mind. Finding the right listing price is considered the most difficult task for this type of sale. Before attempting to join this small percentage of those who sell their homes without expert help, consider the advantages of hiring a professional real estate agent.
Setting the Price
Choosing a price point is more involved than having a home appraised and asking
that amount. In fact, while an appraisal is a good starting point, an expert can access a
CMA or comparative market analysis to analyze current trends in the area including
what similar homes sell for, current market trends, interest of local buyers, and how long homes are listed. With this important information, a real estate expert can price your home to ensure a profitable sale with a quick turnaround.
A real estate agent is efficient in finding flaws in your property that may slow down a transaction or effect bids from buyers. For instance, if you live in an area that experiences heavy rain fall, a new roof or air-tight windows and doors may be necessary before listing. Homes for sale in regions with intense summers and brutal winters can benefit from an updated HVAC system. If you decide to purchase a new unit, make sure to keep warranty paperwork on hand to pass on to the next owner. Small incentives like this can make the difference between receiving unimpressive offers and making a sale.
Be sure to brag about recent upgrades in your listing. Buyers know what they’re looking for, and an agent understands how to advertise your property so they can find it.
Dealing with Negotiations
Once you have accepted an offer from a home buyer, there is still one roadblock in the way before you head to close. Most offers are contingent on a home inspection, meaning an independent professional will inspect the property for flaws or defects that may otherwise go unnoticed. Keep in mind, some states require you to disclose information about known problems that may affect the value of your home. If you fail to inform them, you may be held legally responsible for fines and fees or the rescission of a sale. Your real estate agent is an expert on the sometimes complicated responsibilities that sellers face and can ensure your deal won’t fall through.
If unexpected problems are discovered, it’s common for a new offer to be written up. An agent will use his expertise to negotiate with the buyer’s agent to maintain fair terms.
Need assistance? We will be happy to meet with you and share our guidance. Schedule an appointment today. Call us at 855-768-8845.