Should I Sell By Owner?
You've heard it before. "Agents sold homes for tons more based on this national statistical data" It's a reason, a good start, sure, but to me it doesn't seem like the very best reason. Here are some of the best reasons to list your home instead:
A quick way to get into hot water in a real estate transaction is to not have the correct forms, miss a deadline, miss signatures, or make a damaging language error in print! Real estate agents have a limited license to practice law and can give you the best protection from legal ramifications that could cost you tens of thousands.
Marketing your home is very different now. One full third of potential buyers are ages 21-35. Like me, as a millennial in real estate, most have never even picked up the newspaper! RE/MAX Elite syndicates to 80+ websites. 80% of buyers are looking only online. That's a big piece of the marketplace By Owners struggle to access. Zillow and Trulia are just the tip of the iceberg.
Agents have connections with other agents, and sometimes, they have some buyers too =). We are in the business of selling houses, and knowing people is our game!
You might have to pay anyway
If an agent does bring you a buyer, due to corporate policies many brokers require that the For Sale By Owner pay a 5-6% commission, just for them. The reasoning is they have to do "all the work" or it isn't fair to their colleagues competing for your listing. In reality, it deters buyers from looking at By Owners and turns them toward the system instead. You might have to pay the full commission and be your own agent? Unfair and uncool. If not, you miss out on that buyer when they can't afford a downpayment + closing costs + 5-6% for the agent they already signed a contract with.
More likely than not, you will pay a buyers agent 2.4% or more in commission. For just 3% more in commission payment you can beat that average and sell your home for 9% more!
The law of supply and demand
A For Sale By Owner seems like a great idea in a sellers market, and that's sort of true. I totally get the appeal. You can sell your house easier in this market, but you might miss out on big returns too. Bidding wars are going on more than ever in southeastern Wisconsin. Marketing a home well creates that demand. That demand drives your home value up and up.
Do you have the right list price? Are you marketing your home in a way that creates demand?
Even more reasons for selling with Katy...
Support, knowledge, and protection
If you don't have a good Realtor, who communicates with you, is trustworthy and knowledgeable, these benefits don't apply. Read more about how I strive every single day to be The Right Agent for you.
Free staging, the MLS, professional photos, & web sharing all make your house shine and stand out in the crowd. The list goes on and on. Plus all my advertising is done with professionals. That means great design, ease of use, and a clean, modern look for your home's marketing materials.
"What am I missing?" A scary question when deadlines are approaching. I keep all my clients in the loop with modern technology. We sign online, we have task lists, reminders, and we make it happen together!
There are more reasons. But I will let you get on with your day! Because you are busy. Too busy to make life harder by selling by owner or hiring the wrong agent!