In a hot seller’s market like we are in today you may think that selling your home yourself is the way to go. You can get a sign, you can post your home online and even facebook to draw prospective buyers to your home. Why would you pay a professional to do something that you believe you can do yourself? In this article we will show you 3 ways that hiring a professional Realtor® will benefit you in the long run.
- Online, Social Media, Direct Prospecting
Sure, you can post your home on facebook marketplace, craigslist, and zillow, and this will get your home exposure. If you hire the right agent to list your property you get much more than a sign in the yard and waiting for a phone call. A driven agent or team like Team Ringgold will proactively prospect for buyers for your home. We create a standalone web page for your home for buyers to get information, any buyer that looks at that web page will then get a follow up call from one of our agents to be sure all their questions were answered about the home and to set an appointment if they would like a viewing of the home. With social media we are not only posting a walkthrough video of your home to our page that is followed by buyers in the area, we also specifically target home buyers that have recently been searching for homes online so the video ad will pop up on their timeline whether they are a follower of our page or not. Thirdly, we make the calls! We spend over 2 hours everyday on the phone with prospective buyers and sellers in the area. You may wonder how contacting sellers would help bring a buyer to your home…… Once they sell their home they will have to have somewhere else to live so we are constantly monitoring our databases search criteria to match your home with a buyer.
- Lots of Paperwork and Negotiations
To be sure that you are selling your home without any sort of legal blowback there are contracts, agreements, and addendums that should be filed to be sure that both parties have guidelines throughout the transaction. If something is missed and it leads to the “he said, she said” argument you could end up with the home tied up in court and your plans on moving could be pushed back. The transfer of the deed needs to be done correctly or you could be stuck with paying taxes on a property that you sold years ago or the buyer may be stuck with a lien that is held on the property without anyone’s knowledge. Realtors® deal with these transactions on a daily basis and have systems in place to make sure the transaction is smooth and bulletproof from any issues down the road. Negotiating the best purchase price, how to deal with multiple buyers at a time, inspection issues and appraisal values come second hand to an experienced agent and will be small bumps in the road compared to the mess you can get in if you are trying to handle the sale yourself.
- You Will Net More Money When Using an Agent
The number one reason sellers elect to sell their homes themselves is because they don’t want to pay the commission. The number one reason that buyers search for a FSBO (for sale by owner) listing is because they want to get a deal. Think of it this way. If you were to go to a garage sale and found a rolex watch in the packaging with the receipt attached to it would you pay retail value? Of course not! You expect to get a deal because it is a second hand garage sale. If you walk into the rolex store do you expect the sales person behind the counter to knock anything of the retail price, of course not. This isn’t any different than listing your home yourself or with a real estate sales professional. A study by Collateral Analytics actually found that the price difference between a FSBO and an agent listed sale on average was 6%. One of the main reasons for this is the MLS (multiple listing service) exposure. As a FSBO listing on zillow you are only marketing to buyers that are searching for FSBO listings. When an agent lists your home on the MLS it is being marketed to all the agents in that area that are working with buyers…. The more exposure you have to agents the higher possibility you will receive multiple offers increasing your chance of a higher purchase price. FSBO listings sell for 6% less than agent listed homes. Wouldn’t it make more sense to just pay the commission and hand all of the marketing and negotiating and paperwork over to the agent?
What Advantage Do You Have?
Before going down the long confusing road of listing your home FSBO, ask yourself, “what advantages/benefits do I have when selling my home myself?” I’m sure the answers you thought you had were debunked in this article. And if you decide to take on the challenge of selling your home yourself give Team Ringgold a call first to discuss their proven marketing strategy and to see how they have been able to help their sellers net more money with the least amount of hassle and effort.