There are two types of FSBOs (For Sale By Owner) these days: sellers that just put a sign in the yard and hope for the best and sellers that utilize a limited service real estate company to simply put their home in the MLS and then handle the rest of the transaction themselves. Both of them seem simple enough and, truthfully speaking, they were attractive options to me before I began in this business. At that time, I didn’t realize the liability and pitfalls that were looming. Now as a seasoned agent, however…and especially in this current real estate climate…sellers can cost themselves much more than the amount of a commission by misstepping through the process and trying to sell on their own. Here are just a few of the common pitfalls that can cost a FSBO time and money, and how our team can help you avoid them!
With websites like Trulia and Zillow, buyers are more educated than ever before but they only know what they are able to see online. A Realtor will not only put your home in MLS, but can also post to these sites and get directly in front of actual buyers. But that presentation cannot be taken lightly!! Our team knows the the marketing tricks to make your listing stand out on MLS and in forums like these by spending considerable time and money on professional photography and marketing efforts. Each venue has different parameters and limitations, and by knowing the detailed ins and outs of each website, we are able to maximize your exposure to ensure no opportunity is missed as we fight for those buyers!
I learned this lesson the hard way when I tried to sell my own home. I was personally offended by every bit of feedback and negotiation strategy. I even lost the first buyer that made an offer because I was too emotionally invested in the process and couldn’t separate. Having a professional sounding board as a buffer is paramount—not only in giving true facts and filtering out the unnecessarily offensive —but in helping to take the emotion out an drive towards a meeting of the minds. With our team’s industry experience and unrelenting negotiating skills, we’ll be the middle man powerhouse to get you the best deal.
As a top Charleston real estate agent, I have access to an automated program that immediately sends emails and texts to every Realtor that has scheduled a showing on one of my listed properties. I am able to customize the questions in that email to the exact listing and change them periodically throughout the listing period if we see the same issue coming up regularly. Our team follows up on every showing, tracking all feedback and sends updates to you in real time with weekly recap reports. We analyze these reports regularly to determine if anything needs to be tweaked in the process.
Many FSBOs spend hundreds of dollars getting a professional appraisal done when Realtors have access to all of the same information and can easily put together market analysis to show not only the value of your home, but also the estimated time on the market and how many showings for sale homes are getting in your area. It’s more pertinent information and it costs you nothing. Our team will pull a comparative analysis for you at our very first meeting, and can re-analyze for you at any time during the listing process.
You are trying to get the best price for your home and you absolutely want to push the market to its highest but appraisers are more controlled now than ever before. They have to use true sold comps and cannot utilize data on “upward market trends.” As a listing agent, we are the only gatekeeper between the appraiser and the final report. The lender or buyer cannot select a specific appraiser, and the buyers’ agent cannot correspond with them. Only the listing agent can grant access, supply comps and upgrade lists, and circumvent a low appraisal by justifying the contract price. This can easily save you REAL DOLLARS because a low appraisal usually results in a lowering of the contract price or a deal falling through completely. Buyers today will not pay over market value and banks only lend on the appraised value—not on the contract price.
Given the five points listed above, you can see not only why hiring a Realtor is critical to a successful home sale, but also why the Rebecca Linenger Real Estate team is the best choice! By investing in us, you will be saving yourself a lot of money and time throughout the process. We look forward to working with you and ensuring that you get the most out of your home sale!