Real Estate

The truth for FSBO sellers

If you really want to sell your home, selling it on your own in this market is not the best way to go. Here’s the brutal truth why:

At a Buyers Market, I have been representing a lot of buyers lately. Most are “first-time homebuyers,” using FHA loans (which are doing the most lending these days). FHA makes loans up to $280,000.00 – ish (fluctuates). Anything below that amount is in a hot market right now.

A first time home buyer is new to the housing market, therefore 99% of the time they will use a real estate agent. Protecting my client is my first priority, such as a clean title, mold, inspection, proper disclosures, Chinese drywall, etc. Knowing that, and knowing that other realtors must abide by certain laws and ethics like I do, I go to show my clients only homes listed by other realtors (remember…this is true…others may not say this, but they will).

Another market is the “high-end buyer.” These are professionals who, unless they are in Real Estate, are too busy to worry about the details of buying a home. They too will go to a reputable agency and hire us to do the hard stuff.

Those are just some of the basics why Realtor’s won’t show your property and you are limiting your market base. If you want to hear more reasons, feel free to call me.

Now here’s why you might be selling yourself…

As a real estate agent, I have to keep abreast of everything that is happening in the market. There are so many options available, for many different situations. For example, do you know all the options you may have if you are “invested” in your mortgage? There are ways to work this out AND stay in your home (if that’s what you want to do), even if you’re behind on your payments. You can also do a “short sale,” which depending on your situation may not always negatively affect your credit. I personally do not list short sale properties on my own, I partner with a real estate agent in my office who is a certified short sale specialist. That way, my clients always get the right representation. I take care of list maintenance and marketing (that’s what I’m especially good at). The other reason I’m doing this is that I’m not a true believer in mitigation companies (we can discuss that later if you’d like).

Another reason is the temperamental mortgage market. I can’t even tell you how many deals fail because of funding. And many of those buyers were pre-qualified! Due to the current real estate market, real estate agents generally ONLY accept buyers who are pre-qualified, WITH a qualified lender. That also saves you time chasing financing from a buyer. Honestly, I’m in this business to help people. I have noticed that many “For Sale By Owner” properties end up before foreclosure OR are listed with an agent. Save yourself the time and aggravation. I would also recommend researching real estate agents. You can quickly “Google” their name and see what sites they use to promote themselves and their listings. Also check out their website… if it’s just a “bunch” on the web… maybe they’re not E experts.

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