To start off with it should be said that there are indeed people who can sell their homes for sale by owner (FSBO) (FSBOs accounted for 9% of home sales in 2010), and some may even save a few dollars doing it. These are people who have five important skills:
1. They have the detailed knowledge of their local real estate market to be able to appropriately price their home to get the best possible price while still attracting enough interest to get it sold.
2. They know how to market and advertise their Southern New Hampshire real estate both online and offline without spending a fortune.
2. They know how to pre-qualify buyers to be sure they’re actually able to afford the home.
3. They are excellent sales people and are great at negotiating without getting emotionally involved.
4. They know how to execute real estate contracts and all the other associated legal work necessary to sell a home.
Additionally, they need to have plenty of time to:
* Market and advertise their home. A lot of time can be spent writing ads, creating flyers, taking photos, and loading everything to a wide variety of real estate websites.
* Show their home to potential buyers at times that are best for the buyer.
* Negotiate with buyers.
* Execute the real estate contract.
* Follow up on any contingencies the buyer may have requested.
If you do not have those five skills or the extra time needed to perform all the necessary tasks, selling your Southern New Hampshire real estate by owner probably isn’t a good idea for you.
Instead, you can hire a real estate agent to do it all for you. A professional real estate agent is more than just someone who puts their name on a sign on your front lawn.
* They have significant training and experience in determining the appropriate list price for a home.
* They are the person who is your first line of defense when it comes to dealing with buyers. They know how to be sure the person coming to look at your house really has the qualifications to actually make a purchase, not just some Sunday shopper.
* They also have the marketing know-how and the advertising power of a real estate company behind them.
* They have vast connections and relationships with professionals such as home inspectors, title offices and mortgage companies. They work with these people many times a month year in and year out.
* They’re skilled negotiators.
* They understand what legal work has to be done and how to keep it on track.
Obviously, a professional real estate agent saves you time, but they also save you money. Statistics show that homes sell for more money when sold by an agent, especially in today’s real estate market. In fact, in 2010, the typical FSBO home sold for $140,000 compared to $199,300 for agent-assisted home sales. That's quite a bit more of a difference than just a 5 or 6% commission!
How can that be? People who buy a FSBO know you’re saving money on commission and expect you to pass those savings on to them, and since most FSBO sellers aren't able to reach a broad enough base of buyers to have the possibility of multiple offers, they often get stuck with bargain hunters.
If you’d like more information on how a real estate agent can help save you time and money by selling your home, give me a call today at 603-821-1134 or email me at Dave@DaveHeeter.com.
Source for 2010 FSBO stats: 2010 National Association of REALTORS® Profile of Home Buyers and Sellers
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