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Should You Sell Your Home By Yourself?

by Gary Nelson


Are you planning to sell your home in Flagstaff? Are you planning to use an agent or sell it on your own? You may have been told that selling your home without an agent will make you more money in the end. But is that really true? Sure, you would expect that a real estate agent would advise you not to sell your house on your own, or FSBO (For Sale by Owner). Maybe you think that real estate agents are just trying to use your home to make money just for themselves. But it really is in your best interest when selling a home to consider why using an agent to sell your home in Flagstaff will benefit you more than selling your home by yourself.

Just think about this fact. Selling a home is the largest transaction that most people make. This isn’t the same as selling an item on Facebook. There’s hundreds of thousands, possibly millions, of dollars at stake.  And the money is only the tip of the iceberg. You have legal matters, mortgages, mounds of paperwork, and plenty of people to negotiate with. The other thing to consider is how to determine the true value of your home.

Also consider that real estate agents have many years of experience and training in selling homes in Flagstaff.  Sellers usually do not have this experience. Your ability to negotiate will determine if you get the best deal for you and your family.

Here’s just a sample of some of the people you must be prepared to negotiate if you decide to FSBO:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The termite company if there are challenges
  • The buyer’s lender if the structure of the mortgage requires the sellers’ participation
  • The appraiser if there is a question of value
  • The title company if there are challenges with certificates of occupancy (CO) or other permits
  • The town or municipality if you need to get the CO permits mentioned above
  • The buyer’s buyer in case there are challenges with the house your buyer is selling
  • Your bank in the case of a short sale

Over the past 20 years, the amount of sellers who have hired an agent has been rising. Gary Nelson and Realty Executives have the experience you need to sell your home in Flagstaff.  Call them at 928-225-3510 to start the process today. Don't lose out on the benefit of using an agent to help you get the most from your home sale.

Should You FSBO?

by Gary Nelson

Are you thinking about selling your home in Flagstaff? If so, you may be tempted to sell it by yourself, otherwise known as a FSBO (for sale by owner).  This may seem very tempting on the surface.  People may think that by cutting out the middle man that you can make more of a profit.  And sometimes that can be the case. But there are many reasons why FSBO home sales are not always the best idea.

Here are five reasons you should think twice about selling your home on your own:

Exposure

Almost all home buyers search online for their home.  You might think that listing your home on Craigslist or some other online market will be enough.  But the question to ask is: do I market homes for a living? The answer is probably no.  On the other hand, most successful real estate agents in Flagstaff have a marketing strategy that covers various methods to get your home the exposure you need to find the highest paying buyers.  The more people who see your home, the more competition there will be.  And that may mean more money.

The Internet Produces Results

Based on recent studies, here’s the breakdown of how buyers found the home they purchased.

  • 49% on the internet
  • 31% from a Real Estate Agent
  • 7% from a yard sign
  • 1% from newspapers

Simply putting a sign on the front lawn is not going to get the buyers you need. Like the last point brought out, successfully selling a home requires a solid marketing strategy that leans heavily to online marketing methods.

Too Many People

Selling a home isn’t like selling a bicycle. There’s a number of people who legally will be in the mix.  This a huge transaction, and that means that various professions are called into play during a real estate transaction. Here’s who you’ll have to negotiate with if you decide to FSBO:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

Are you successfully prepared to deal with all of these individuals?

FSBOing Has Become More Difficult

The number of sellers selling their own home has dropped from 19% to 8% over the past 20 years, simply because of the complexity of the paperwork.

Using an Agent Nets More Money

Your gut reaction to the title of this paragraph may be “sure, the agent makes more money.”  Yes they do.  And so do you. In fact, a study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases, may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is:

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

When more buyers look at a home, there could be a bidding war. And is certainly the case when you use an agent.

Let us help you make the most money on your home for sale in Flagstaff.  Give us a call today at 928-225-3510 or 928-773-9300 and let us show you why using an experienced real estate agent is the smart move.

Displaying blog entries 1-2 of 2

Contact Information

The Gary Nelson Group
Realty Executives of Flagsaff
15 E. Cherry Ave. Suite 101
Flagstaff AZ 86001
Direct: 928-225-3510
Office: 928-773-9300
Fax: 928-774-1102


 

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