FOR SALE BY OWNER – PIECE OF CAKE/ RISK (FSBO) ? ALTERNATIVE: AGENT ASSIST

Portrait of happy family showing thumbs up sign while lying in their new house

 

Hi there, many people may think that as real estate agents we may not necessarily be the best people for advice on this topic, and we all agree that it is extremely important to save money when and if we can. As real estate agents we do this for a living, so it is fair to assume that if you have been in the industry for a long time, lets say 5 years + you have a better knowledge of the process, I emphasis on the word process.

Seek the assistance of a Professional

Many professionals have seen the end result of a For Sale by Owner go wrong, now once again I say good luck to those who did it themselves and achieved a result that proved to be a good market value. But what are the risks ?

The best way to attempt to explain this is by keeping it simple so that we can all understand that there is a process that takes place, lets forget about real estate for a moment and how about we focus on something that we all do day in day out, cooking. Now we all enjoy eating and most of us cook food at home, the kitchen is usually mums main area, if you don’t believe me ask mum and I am sure that she is more than happy to pass over some of the responsibilities of the kitchen to another member of the family. Dad is usually the master of the BBQ, that is not to say that some dads don’t get involved in the kitchen. So what happens here ? well we are all comfortable cooking those dishes that we are familiar with, and for some of them that we have been cooking for so long, we become experts at and do not even need to look at the recipe any more, those dishes are probably the best.

Seek the assistance of a Professional

Now here is how things get tricky, you are at a Restaurant, family dinner or even a friends house for dinner, lets not pick the main course lets pick something easier, lets say desert and it was a Cake, and everybody loved it. Mum said can I have the recipe please ? sure thing said her sister and they sat down after dinner and exchanged the recipe and the process several times as you do. Now I am sure everybody knows what happens here, the chances are and this has happened to the best of home cooks, the cake is an absolute wreck, it looks terrible and tastes just as bad. Mum is now extremely disappointed with what has just taken place, sometimes its not just the cost of all the goods but the time and the cleaning that usually takes place afterwards, along with the frustration.

Now lets get back to selling your most valuable asset, the family home. The marketers of selling your home by your self may provide you with some marketing tools, internet access, procedures and assist with a price guide, is this sounding familiar. The last thing you want to happen to the value of your home is get it wrong. The reports that have been generated by these marketers of For Sale by Owner have never and will never inspect your home, but they will provide you with ranges that have been computer generated.

Seek the assistance of a Professional

The above are all recipes for disaster, we are talking about your most important asset that protects your families future, never allow yourself to be misled or placed in this type of a negligent position, always seek professional assistance with a real estate agent who specials in the area.

If you are not feeling well chances are that you will go to your family Doctor, how many times have Doctors referred patients to other Doctors, if your accountant advises you of changes that need to be processed we all listen to the professional advise, real estate agents are no different. If my daughter asked me what to do regarding the sale of her home and she asked me should I utilise For Sale by Owner, my response will be absolutely not.

Seek the assistance of a Professional

Lets look at a scenario when a owner places their home (FSBO) and it has been on the market for a while and has not sold, now this also happens with homes for sale with real estate agents, but if you have a true professional working for you the chances are very strong that the home will sell for market value, the professional real estate agent has processes in place to achieve this end result, remember they do this for a living. Now lets go back to (FSBO), what went wrong and what to do now,have we done every thing correctly, have you been marketing the home correctly, is it priced correctly,are you absolutely positive,who and when will support you and back you up, did your negotiations brake down, chances are you are personally too closely attached to the home, or are your communication skills lacking, how proficient are you with negotiating with savvy buyers, If the home is on the market for a while and there are no movements, chances are you may have generated a lemon, this will have enormous implications on the future sale of your home as well as the value.

Statistics: FSBO homes are under sold

Conclusion: Utilise the services of a local real estate professional who will be committed to your requirements, act in your best interest and protect you, some times from your self.

There are alternatives with major improvements thanks to technology. Real estate agents are now assisting people sell their home privately, chances are that you will be pleasantly surprised with this alternative process, it may not be for every body but there are now more choices available. So if you are considering selling your home privately that is all very well especially if you have chosen the assistance of a real estate agent.

 

Regards

George Serghis

Property Consultant

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