As our Real Estate Market’s heat up due to the selling season, I see how many property owners begin the process by trying to sell their home themselves.
As I view the amount of homes For Sale as For-Sale-By-Owner’s on Zillow, I realize how much property owners don’t know. Now don’t get me wrong, some property owners are very well educated with the process and feel they can do this on their own. But just like everything else, just because we researched a subject online doesn’t mean we are the experts.
As I begin my routine calls to For Sale By Owners, I get told often enough, that their listing price is correct and accurate based on Zillow’s Zestimate. Now I ask you: Do you know what a Zestimate is?
- A Zestimate is an estimate of a home value determined by public records and other online sources. This estimate does not take into account your current home’s condition, any updates, remodeling or upgrades that may have been done, your neighborhood amenities, and current market sales and home comparables. This estimate is not an Appraisal of your home.
- A true Market Value of your home can only be provided by someone (REALTOR® or Appraiser) who physically goes into your home, reviews your home’s current condition, and then provides you with a personalized Market Value of your home.
As a Real Estate Professional, I can honestly tell you that as a property owner, you may not know all that is legally required and necessary to sell a home.
Here are some Important Facts:
- The National Association of REALTORS® shows that less than 10% of home sales are FSBO
- There are too many people to negotiate with: Buyer, Buyer’s Agent, Buyer’s Attorney, Inspectors, Appraiser, etc.
- Home Owner’s don’t know how to prepare home for sale: staging, decluttering, repairs, necessary cleaning, replacing outdated fixtures, curb appeal, etc.
- Owners don’t know how to screen potential Buyers
- Owners can fail to solve a buyer’s inquiries
- Owners don’t understand timelines, disclosures, contracts and clauses
- Owners don’t know how to handle home inspection findings
- Owners can incorrectly price their home
- Home can lack Marketing exposure on a larger scale: Multiple Listing Services, Other important Real Estate search sites, Online Ads, Social Media, etc. Buyers search online and Zillow is not the only site used.
- For Sale By Owners mostly fail in the closing process
- Consider your Safety & Possible Scams
- A Real Estate Professional can offer a Personalized Marketing Plan to get your home sold
- Real Estate Agents view property objectively
- Buying Agents prefer to work with a property that is already listed with a listing Agent
I hope this post shared a little more insight on the Home Selling Process.
Here is more on this subject:
For Sale By Owners: 3 Reasons it’s in Your best interest to hire a Real Estate Agent/REALTOR®.
Are You selling your Home as a For Sale By Owner? Read this First.
Home Sellers: Here are 4 Ways to Prepare Your Home For Sale.
5 Reasons Why You should not Sell Your Home as a For Sale By Owner.
Do you have Questions or Comments? Please let me know!