For Sale By Owner
A Realtor's Advice
A Realtor may ask you to do some things that you really don't want to do to in order to get you moved into your new home as quickly as possible.
When Realtors advise you about what you can do to make the transaction work, they are acting as part coach and part business consultant. If you find the house you love and want to "sleep on" the decision for a few days, the Realtor knows that you run the risk of losing the house. If you are inclined to complicate your offer with clauses that may make the contract unattractive to the sellers, the agent may ask you to consider some modifications. Should you call the week before the closing with an attack of "buyer's remorse", your agent knows the cure. Following your Realtor's suggestions will increase your chances for a successful move!
Are You Curious?
Perhaps you have no plans to buy or sell a home right now, but you are curious about your possibilities. Real estate professionals can answer any questions you may have about the ins and outs of real estate. We can provide you with information to help you make a decision.
We will discuss the local real estate market with you and help you determine whether it is a good time for you to buy or sell. If you are a first-time buyer, you may have questions about legal descriptions, fair housing laws or sources of financing. You may be curious about how sales prices are set. A Realtor's job is diverse, and the best Realtors are excellent sources of information. Each day I am actively involved with mortgage lenders, attorneys, surveyors and taxing authorities.
Finding the right Realtor is like finding the right physician. The help of a professional can help satisfy your curiosity. Call me with your real estate questions.
Finding Buyers
When a home owner tries to sell "By Owner", they basically use two techniques to get the word out--a plastic sign from the local hardware store and classified ads in the local newspaper. When a seller lists their home with the professional Realtor, however, a very sophisticated process begins in order to make sales happen.
Realtors have a backlog of prospective buyers for the homes in their market. Through the Multiple Listing Service, the agent cooperates with other brokers in the area who will show your home to their prospective buyers. Professional Realtors also combine direct mail, telephone calls, and specialized advertising techniques and media, such as the Internet, to reach the sales market. In this way we create activity on our listings that help them to sell quickly--and for top dollar.
For Sale By Owner
The virtue of self-reliance is as American as baseball and apple pie--except if you are trying to sell your own home. Here such a "virtue" can cost you time, effort--and possibly money.
The overwhelming majority of homes that sell are listed with a Realtor, so you will be going against significant odds if you decide to sell your own home. The experience of a real estate professional may get you a better price and help you to avoid all the "little" things that can go wrong in a real estate transaction.
The desire to "save" the commission on a property is the reason most people decide not to work with a Realtor. Prospective buyers who look for properties that are "For Sale By Owner" (FSBOs) are also wanting to avoid the commission--and to get a less-than-market-value deal. However, nothing is saved in the majority of FSBOs. Listing your home with a real estate professional can save you money, spare you the inconvenience of showing your home, and save you the time you would spend talking to buyers who could not qualify for a loan.
Listing Presentations
The listing presentation is the first step most sellers take when they are looking for a real estate professional to market their home in the Overland Park area. They communicate what they expect from the Realtor who will list their home, and the Realtor explains their marketing strategy, including pricing recommendations, advertising, and any special programs they or their companies offer.
A good listing presentation takes careful planning. A written market analysis will help you get a clear idea of local market conditions. Many Realtors will include a marketing plan, as well as suggestions on how to make sure that your home shows well and is accessible to agents. If you are talking to several companies, resist the temptation to go with the person who quotes you the highest price for your house. Look for an agent who is well prepared, professional, and has the best ideas. The most successful transactions involve careful collaboration between the sellers and the Realtor.
Sell Your Home
It is not unusual for homeowners to yield to the temptation to try to sell their own home. It seems easy enough--just place an ad in the weekend paper and wait for buyers to show up. Although it may seem easy, real estate sales are extremely complicated transactions.
The first pitfall can come with pricing your property realistically. Homeowners often price their property too high initially, then, in a panic, drastically slash the price. Even if a buyer agrees to the initial asking price, there could be trouble if the buyers begin to feel that they have agreed to pay too much or if the lender's appraisal values the property at far less than the agreed-upon price. Some of our clients hired us to market their home professionally after weeks or months of trying to sell their home, or after their transaction fell through.
Selling Tools
After a month of trying to sell your home "By Owner" you have listed it with a Realtor. You begin to notice that your agent doesn't seem to be marketing your home the same way you did. You ran classified ads every weekend, but your agent has only advertised twice all month. At the same time, you notice there is a lot more activity than you were able to generate on your own.
When your home is being marketed professionally, your Realtor has many powerful selling tools that make it worth hiring someone who is experienced and competent. Some advantages to hiring a Realtor are the national and worldwide referral networks, the Multiple Listing Service, and the Internet. We advertise extensively in almost every media available including TV, which may bring in a call from the people who will buy your home. We work cooperatively with other brokers and share information about listings. Communication is the key to our success. We use all of these tools to market our listings aggressively to get sales action!
Selling Your Own Home
The concept of "do-it-yourself" is "as American as apple pie". While this approach can pay dividends in many endeavors, it can cost you unnecessary time and money when you are trying to sell your home.
The overwhelming majority of homes that sell are listed with a real estate sales professional. In most markets, over 90% of the homes sold are listed with a Realtor.
Most people try to sell their own home in order to save the commission, while those who tend to buy homes that are "for Sale by Owner" homes also want to save!
Rarely does anyone actually save money by selling their own home. By listing your home with a Realtor you will save the cost of advertising your home, the inconvenience of showing, and all the time you might spend talking to people who couldn't qualify to buy. Realtors can help you get top dollar for your home and are experienced in all of the complex legal details involved in transferring title.
Sold!
Some things are hard to measure, and others are easy. Success in a real estate sale is easy. It occurs when the "SOLD" sign is in your front yard. And having that occur as quickly as possible is another goal.
You have undoubtedly heard that old saying about the "hard way" and the "easy way" to do something. The hard way to get the "SOLD" sign up is to try and sell it yourself. And the easy way is to use the services of a sales professional, someone who is not only trained to get it sold ASAP, but to get as much for your home as the market will bear.
Remember, the agent doesn't get paid until your home is "SOLD". And the amount they earn in commission is dependent upon the amount of the sale. That's a lot of genuine motivation to do the job right.
So save yourself headaches and frustration when you are ready to sell--call a professional Realtor.
Working With A Realtor
It is not unusual for homeowners to yield to the temptation to try to sell their own home. It seems easy enough--just place an ad in the weekend paper and wait for buyers to show up. Although it may seem easy, real estate sales are extremely complicated transactions.
The first pitfall can come with pricing your property realistically. Homeowners often price their property too high initially, then, in a panic, drastically slash the price. Even if a buyer agrees to the initial asking price, there could be trouble if the buyers begin to feel that they have agreed to pay too much or if the lender's appraisal values the property at far less than the agreed-upon price. Some of our clients hired us to market their home professionally after weeks or months of trying to sell their home, or after their transaction fell through.
