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5 Reasons You Shouldn't For Sale By Owner

by www.keepingcurrentmatters.com

Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons this might not be a good idea for the vast majority of sellers.

Here are five reasons:

1. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • 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

2. Exposure to Prospective Purchasers

Recent studies have shown that 88% of buyers search online for a home. That is in comparison to only 21% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

3. Results Come from the Internet

Where do buyers find the home they actually purchased?

  • 43% on the internet
  • 9% from a yard sign
  • 1% from newspaper

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

4. FSBOing has Become More and More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 9% over the last 20+ years.

5. You Net More Money when Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

Studies have shown that the typical house sold by the homeowner sells for $208,000 while the typical house sold by an agent sells for $235,000. This doesn’t mean that an agent can get $27,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Sold for better than list price in one day

by Robert Stamey

My recent clients made the news...I was the list agent and they the sellers on the house referenced in this article...The story is pretty cool and the letter was a nice touch...But I'm thinking the $5k over list price is what sealed the deal...A win win for everyone in this deal!!!!!

 

http://hamptonroads.com/2013/07/when-buying-new-home-becomes-personal

Why VA residents move to NC?

by Robert Stamey

It’s simple. Lower cost of living, more land, great schools, and no money down financing. With a tax rate of only .48 cents per 100 dollars of valuation, the tax savings alone will reduce your monthly mortgage around $130.00 dollars. Qualified military retirees pay “no” state tax in North Carolina.  For families, great schools make moving to the Moyock area a smart decision. Currituck County schools are consistently recognized as some of the best schools in the state. As for financing, qualified buyers can take advantage of the USDA “no money down” financing option which is not available in Hampton Roads;

  • No down payment and no mortgage payment the first month.
  • Closing costs, prepaid items, legal/service fees may be included.
  • 30-year fixed loans at the lowest market rates.
  • No sales price limit - limits based on income and household size.

Do you have specific questions about relocating to Moyock/Currituck NC or the USDA no money down financing?  Feel free to contact us directly @ 252-455-1122.

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Robert Stamey
A Better Way Realty
4483 Caratoke Hwy. Ste 1
Barco NC 27917
252-455-1122
252-453-4075
Fax: 252-453-4076