FOR SALE BY OWNER

I recently ran across this blog by a Home Stager in Toronto discussing her experience dealing with a "For Sale By Owner" and thought I’d share it ...

The Truth & Real Reasons to use a Realtor Rather Than Go FSBO

The truth and real reasons to use a Realtor.

·         There are dozens of FSBO sites. How do you know someone searching for a FSBO house will stumble upon the site with your home? I’ve tried...not easy. Some sites have cross posts from other FSBO but to do a comprehensive search a person would have to keep track of ALL the FSBO websites to make sure they don’t miss anything. The homeowner who lists their home on a FSBO site is like a needle in a haystack to potential buyers.

·         Realtors don’t show FSBO houses. Realtors have the potential buyers. Buyers contact Realtors not FSBO’s.

·         Even when you list your house FSBO and offer the 2.5% to the buyers agent...these agents are not searching the internet for FSBO sites and listings their time is better spent looking for new clients and showing current clients listings from the MLS.

·         When you list privately you are telling potential buyers they too can save the realty fees (because the buyer is the one to pay it...it’s in the price). Any quote you get on your home from a Realtor includes the commission. Listing FSBO you need to deduct the commission fee from your asking price.

·         Buyers who look for FSBO’s want to save on the commission too. Don’t kid yourself you are not the only one looking to save those $10’s of thousands of dollars. So are buyers of FSBOs.

·         The fact is, the vast majority of people who contact FSBO’s are Listing Agent REALTORS!

FSBO’s in B.C have it even harder than in the USA where it is much more common to sell privately. Currently it makes no sense to list privately.

Really what are you saving when you list privately? You get less for the house, you have to be the one to show the house, you have to take all calls on the house (btw, these will mostly be Realtors wanting to list your house).

So the Realtors get commission. The asking price reflects this and is paid by the buyer.

Some FSBO services will have a Realtor who for a fee will list your property on the local MLS...but when a Realtor calls to book a showing they are told by the ’Listing Agent’ to contact the owner directly. They will not provide ANY information.

The best advice to anyone considering looking to list their property: get a Realtor."

So if you still think that selling your Home Yourself is the way to go.....

BUT...

Advantages of Working with a Professional Realtor

There are countless benefits to utilizing the professional advice of a Real Estate Agent. The selling and buying of Real Estate is often considering one of the most potentially stressful events in a persons’ life. It is a complex business with many factors to consider. As a professional Realtor I come with the experience and knowledge to deal effectively with these often complex and intimidating details. My resources, contacts and skill are critical in guiding you smoothly through the process of selling your home.

Setting a Price

I realize with much of the Mls data readily available to the public, it is not difficult to search out properties and get some idea of what your home might be worth. However, the odds are that you haven’t seen these homes inside, you may not always know the improvements made, or even the exact sale price.

Equipped with MLS(r) data,( more detailed then that available to the public), and prior knowledge, as a Realtor with 18 years of experience, I am able to set a fair and accurate price for your home, maximizing the likelihood of serious offers, while minimizing the amount of time to get them. Ultimately it will be the Buyers who determine the value of your home. As the saying goes " a house is only worth what someone is willing to pay for it! "

And of further note..... In this crazy market that we’re in the midst of....many for sale by home owners, underprice or overprice their homes.

Underpricing happens when - 1.) They think they’ll sell their house faster; 2.) they’re using the most recent stats for sales in their area, or 3.) they’re calculating the difference between what they purchased their home for and what they might make now, and saying "well thats enough of a profit" (believe it or not it happens! 4.) and they think they’ll SAVE money by selling there home themselves, so they can reduce the price by half the realtor’s commission.

Overpricing happens when - They’re anticipating the upward climb of prices before they’re even there. Or they think there house is nicer then all the rest - without having seen the inside of the other comparable homes. Sometimes homeowners do home improvements that aren’t always valued as much by the buyer. I.e. hardwood floors may not be a benefit to a dog owner.....The best way to get a higher price is to list with ME and we’ll do our very best to get you not only a full price offer, but in the case of multiple-offers we’ll get you ABOVE list price!

Getting the Buyers to Notice

As a Real Estate Agent I can also offer many suggestions for marketing your home. I don’t have the same emotional attachment or investment that you may have, and thus can look at your home objectively and comparatively with other homes on the market.

These may include repairs to the outside or inside of your home, or suggestions to ensure that your home looks its best. One of the greatest benefits of using a me is the wide open exposure to potential buyers. An Open House, flyers, Website, are just a start - I am also able to call on an extensive list of contacts to get the word out about your home.

Also my knowledge of the market will dictate how much advertising is necessary and when to stop. I usually operate on an advertising rotation, that may involve the whole lowermainland. Alternate weeks I will advertise locally, and others I may rotate between Langley, Surrey, Richmond, Burnaby or North Vancouver! Many of our buyers these days come from other areas, as they realize the value in investment and purchasing in Chilliwack. However there are time that saturating the market with ads may only advertise desperation. It depends on the market and the type of home that you have!

Additionally, through the Multiple Listing Service or MLS(r), a I can effectively advertise your property to the thousands of buyers who look for homes first on the Internet via www.mls.ca. This is something you cannot do selling your home Yourself! MLS.ca, is the number one marketing tool we have today!

I also have my Website, www.lizmoras.com that provides considerable exposure to both mls and exclusive listings, as well as Listing potential Buyers and their "Wish Lists". I also rotate a Featured Listing of the Week, for added exposure!

Bringing Strangers to Your Home

Another excellent benefit of using a myself as your professional Realtor is that you know someone responsible is taking care of the strangers that enter your home. Because potential buyers will be screened by me, you don’t have to worry about security or discretion.

Closing the Deal

Negotiating can be a very emotional undertaking and one that many people are only too happy to give away. As a professional I know how to close the deal with your best interests in mind. I am in a position to follow up and not only encourage offers, but multiple offers that could result in a full or above asking PRICE. I can remain emotionally detached - a situation that is often much more comfortable for the buyer and you.

Post- Sale Details

When your home is sold on paper there are still may details that must be dealt with. From inspection to appraisal to financing, I have the skills and experience to side-step minefields and get you involved only when you have to be. I can even be the go-between for tradespeople or specialists that may be required for last minute repairs or cleaning that need to be completed before closing.