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Wednesday, 19 July 2017
FSBO...is it worth the liability
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 As I drive around our community, I​ occasionally​​ notice ​​homes that are for sale by the owners ​​​(FSBO​).  I often wonder if these owners know the ramifications of ​selling their own homes​. I am listing some points to consider and think about.  Once you read these points​, I think you may agree with me, that working with a professional is best for your protection in what is usually one of the largest financial investments of your lifetime.​

The percentage of selling homes by yourself has declined from 13% (2001) to 8% in 2016​, according to a recent survey.​ Much of that decline is certainly due to the use of ​technology, but also because of buyers​ understanding more of what is involved in selling homes .  So, they seem to be taking the smarter and less risky route to selling their home faster by working with a full time professional to market the sale of their home. Using a professional Realtor usually allows you to receive a larger return on your investment in your home, with less risks and surprises in a shorter period of time. Let's cover some of the ​benefits​of selling with a professional:

​:​*    Selling with a Realtor you ​will ​spend a lot le​ss​​ time marketing the sale of your home​. The Realtor will handle showings​ with potential buyers,​​ scheduling professional photographers for ​pictures​ that will help aid in the sale of your home​, marketing​ to numerous websites, assisting in the negotiating of an offer to purchase your home and much more.

​*    You will actually​ ​receive more exposure to potential buyers by listing your home for sale with​ a Realtor because they have​ ​access to marketing opportunities ​that​ are not available to you, such as the Multiple Listing Service​. More importantly, your home will only be viewed by potential buyers that are escorted by your Realtor or other Realtors, ensuring safety and security for your family. The safety and security is the most important point in today's crazy world of scammers and would-be theives. A professional Realtor will have a protective lock-box that insures a digital register of who has entered your home.

* Another benefit to choosing to use a Realtor is that you as the seller will not be putting money out up front.  Sales commissions are paid when the sale closes and all contractual obligations are met. Your broker will instruct the closing attorney to handle all of the closing details.

*  ​Be sure you have a plan on where you will move after your home is sold.  If you are in the same area, your Realtor can help you find your next home. ​ This is what your Realtor does everyday and he or she know​s​ what is available for sale and available for you and your famil​y to ensure a seamless transition from one home to the next.

*   ​Your Realtor is there to guide you through legal requirements set out according to the sales contract. ​​Occasionally, mistakes are made that wind up costing more than originally planned.   Your Realtor will be there to assist in making the sales transaction smooth and as painless as possible. The listing Agent will protect you from the liability of a buyer suing for unknown problems or issues that can occur after the sale.

*   One of the most important factors in selling your home is pricing your home correctly.  This is something that your Realtor does in many ways​ by advising you of the selling prices of similar homes in your area and by meeting appraisers that are sent by the buyer's lender to be certain their investment is a wise one.  A great percentage of homes sales will require an appraisal and if the home doesn't appraise for the selling price on the contract, Sellers are back to ​​square one to begin again and have usually missed chances to sell to buyers interested when the property was first on the market.  EVEN IN A SELLER'S MARKET, APPRAISALS ARE CRITICAL.​

Selling your home can be stressful enough without trying to do it yourself.  I know being able to talk to a professional about situations that arise is a much needed comfort in selling your home. 

​REMEMBER...​​​am here to​ assist  you with all your needs, "You've Got a Friend in Real Estate"

 

Jarod Tanksley

www.brentwoodandbeyond.com

615.403.8265

@tips4realestate

615.373.2814

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Posted on 07/19/2017 1:47 PM by Jarod Tanksley