Real Estate

Quality Real Estate Investment Tips

Sell my home by myself

I can do this! How hard can it be to sell a home? I’ll just put a sign in the front yard and the Buyers will come. Oh, and I’ll advertise on the FSBO (For Sale By Owner) site. There will be lines up the driveway, I’m sure! And, a BIG “And”…I won’t have to pay that gosh awful Real Estate commission at all. Love the idea of selling a home by myself! I can do this.

This is exactly what Ivy and Matthew hadDo FSBO work when selling a home? thought – both successful business people having careers of their own that affords them the luxury lifestyle. However, Matthew, feels that with his intellect and vast business experience that he’ll be able to take care of selling their home. They want to build their own custom dream home that they’ve always dreamed of and can now afford.

Sometimes it’s the smartest people that think they’re fully capable of selling a home themselves. Like mentioned above, plop a sign in the yard and they will come.

Overwhelmed with all the needed know-how to sell a home, Ivy and Matthew, discovered a whole new appreciation for Real Estate Agents.

How does this strategy fail?

Are you a Real Estate expert? No matter the homeowner’s intellect, selling homes requires certain traits, skill sets and experience to have success at selling homes. Homeowners who are not skilled as a Real Estate Agent, will not have the ability to sell their home for the most money for a number of reasons.

They don’t know the ins and outs of the local market, what Buyers look for in a home, how their home compares to recently sold homes, how would adjustments be made when comparing their home to a nearby sold neighbor’s home, would they be able to recoup 100% of the recent remodeled rooms, how do they price their home for sale setting aside their emotional attachment, how do you write a Real Estate contract and do they understand all the terms, what should they be looking for in a Buyer’s offer, can the Buyer afford their home and how would they know … I could go on and on.

Historically, homes sold by owners who are not skilled, licensed Real Estate Agents will have a hard time achieving the end goal of selling their home for the most money. It’s just a fact.

Pay the Real Estate Agent a lower commission

Brilliant you think! Real Estate Agents don’t really do too much do they? Why not get a Real Estate Agent who will sell a home for less money. Oh, yes….this will work good too.

Now that they’re in retirement, the kids have all moved out with families of their own while Robert and Patricia decide it’s time to downsize. Plus, living on a fixed income certainly makes them keenly aware of how they spend their money and they really need to sell their home; what better reason to offer the Real Estate Agent they hire a reduced commission. They’ll just hold firmly and insist. That’ll work. They’re sure the Real Estate Agent will understand and easily accept any reduction that they ask for regarding the commission to be paid.

Robert and Patricia discovered what happens when they hired one of the five Real Estate Agents interviewed who accepted their request to sell their home for a reduced commission.

How does this strategy fail?

Ever hear of you pay for what you get? How easy was it for Robert and Patricia to get the Real Estate Agent to reduce his/her commission? Easy? If so, how easy will it be for a Buyer to get your Real Estate Agent to get you to reduce the price of the home you’re selling? Can you see it now? Your
Real Estate Agent will say, “Sure, Robert and Patricia really need to sell their home, so I’m sure they’ll accept less money”. What? Why is your
Real Estate Agent revealing such private information about your need to sell your home? This is definitely a no-no when trying to corral the most money for a home.

How hard is this Real Estate Agent going to work for you when they know they’re working for a reduced pay. I learned at a very young age that you get what you pay for and the same holds true when you hire a Real Estate Agent on a budget. Don’t expect them to work their tail off for you. They will be pulling punches however for their recent customer, Enzo, who is paying a full commission. I imagine it might be a bit harder for you to get ahold of your Real Estate Agent too, as he/she is likely tied up with Enzo.

So if you don’t have your Real Estate Agent gung-ho about selling your home, do you really think they’re trying to get you top dollar? Makes sense, doesn’t it?

Another consideration is regarding other Real Estate Agents whom may be representing prospective Buyers when your own Real Estate Agent is not. For example, the Buyer’s Real Estate Agent finds 3 homes for the Buyer to see (3 the magical number it takes for Buyer’s to find and choose from, as home buying TV Shows swear by, right?! If only it were that easy.) If two of the homes are paying the typical full commission, and your home is nestled in amongst the others, yet your home has a glaring red sign that tells the Real Estate Agent that they’d make less money selling your home. Do they really want to show their Buyer your home? Oh but wait…that’s unethical you think for the Real Estate Agent to consider not showing the Buyer your home. Sure it is, but don’t think for a moment that this scenario doesn’t play out or what if the the Real Estate Agent is struggling financially and needs money desperately to care for their ill child? Desperation leads people to do desperate things. Would you really want to test this? We buy houses in Decatur Il.

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