So, you’re selling your home…or, you’re looking to buy one. There’s a lot of money floating around in that process; amounts that should scare the average seller or buyer just a bit, no matter how flush you may be. And, because we’re Americans and we’re A) endlessly ingenious and B) always looking to save a buck, the practice of FSBO – For Sale By Owner – has cropped up and gained popularity in recent years. FSBO seems like a slam-dunk. You save yourself a LOT of $$$ if you shove out all those people along the process who are getting a cut of the dollars involved. It bypasses realtors, those folks whom a lot of (ill-unformed) real estate buyers/sellers see as speed bumps.
So, is FSBO really a bad idea? Well…to hear the realty trade tell it, yes, it’s darned near suicide. That may be a tad hyperbolic but…hold on a minute: what’s really involved in selling a home? For anyone who has even gone through it, even with a realtor, you know that it’s become, through the endless revisions and padding out of the laws governing such large-scale transactions, a hideous labyrinth of forms and fees and hoops to jump through; hoops that are normally jumped through by your realtor. There are so many people to deal with: banks and/or mortgage lenders, escrow companies, insurance, titles, home inspections, appraisers, etc.
And on top of that, you have to let people know the place is for sale or you have NO hope at all of selling. Don’t for a moment think it’s as simple as sticking a sign in your front yard and booking showings. These days, more than half of all home buyers find their properties online, compared to 9% who see a yard sign. Now, to sell it yourself, you have to become an internet guru, too! But you have a resource for all of this; an “app”, if you will: your local realtor. You can slap your listing up on a few sites, but your realtor can syndicate your listing to over 200 websites, and will do a lot of social media marketing to reach thousands of targeted buyers.
How much are you really saving? Well it turns out not real dollars. Studies show that typical homes sold by homeowners sell for less money than homes sold by realtors. Why? Well a couple reasons. First buyers almost always have an agent. Why wouldn’t they when their agent’s fees come out of commissions on the sale of your house? Many agents simply don’t put FSBO homes in front of their clients because they want their commission too. Less buyers = less demand = lower price. But what about buyers who look at FSBO’s? They want to avoid the commission too, and that also lowers the price in their eyes. If you’re not paying anyone’s commission, they feel can offer a lower price for your house as well!
The realty trade has devoted hundreds of websites and thousands of pages of rationales as to why you shouldn’t try to do it yourself. We recently read about a dozen of these. And what they all boil down to is so simple, it could have all been written out in one sentence…
Professionals are better than you at handling all these hundreds of details and you have a life already.
Tough love? Yeah, but the statement stands. Imagine a week of 90 usable waking hours. Imagine that you work a full-time job, you have a family you like to spend time with, you have leisure activities you love, trips planned, the occasional social gathering. 40+ of those hours are at work. That leaves fifty or less. You have meals to make, averaging from 1.5 to 2 hours a day. Deduct 12 and you have 38. Then there’s a house to clean, groceries to buy, travel time to and from work (the average American worker commutes over 2 hours a day!), maybe kids to drop off and pick up at school. Clean for 2 hours, groceries for 2, travel time at 10 hours, driving kids around at 14 (their weekend activities, too, y’know!)…and that leaves ten hours…unless you have a life at all, which takes up more time. Now look at all that paperwork and licensing and loan apps, and lawyers and arranging showings of the property, and handling the hundreds of other details of the sale So…what are you really saving?
Author:Troy Anderson Phone: 206-940-2834 Dated: May 12th 2016 Views: 413 About Troy: ~Married with 2 children
~Turned grey prematurely
~Fetish for all things Apple
~Urban chicken far...
TEAM TROY, we are a bunch of fanatics that happen to be really good in the Seattle real estate business. Sure we could exploit systems, alter perceptions, and make more money for the sake of having more, but that’s boring – everyone does that. We’ve come to realize that work should be about increasing our standard of giving, not our standard of living. What keeps us going is our daily fear of dropping dead while doing something useless. We continually aim to be better agents, better neighbors, better partners, better parents, and better people with the singular goal of making folks like you better off than you were before you met us.
Discover our 9 point difference:
“Here at TeamTroy we have found that when we make our only goal, that of making others around us better off than they were before they met us, then everything else just falls in line. This simple mindset protects us from the status quo in real estate, and keeps us obsessed with results.”
Reach out to us today, and find out what you have been missing!
//WISE. Good judgement. Make important choices despite ambiguity. Always strategize.
//OPEN. No walls. Ensure everyone we meet has the same idea of who we are.
//IMPACT. Life is never about us. We strive to make a difference in at least one person’s life daily.
//CURIOUS. Hate the status quo. Learn something from everyone.
//CREATIVE. Challenge the traditional. Incessantly innovate around obstacles and design simplicity.
//BRAVE. Today is not just another day. Never be afraid to try what no one else will do.
//TENACIOUS. Never quit. As others drop back, we run faster.
//CANDID. Honest and blunt. Never alter perceptions but adjust the context.
//SELFLESS. Be salt. Make everything else taste better.
Frequently, when talking about any new real estate market, you go in b
"When my husband and I began our home buying search, we both had decided we did NOT want a real estate agent until the last minute. We have never had a good experience with them and certainly didn't trust them. In fact, just prior to finding Team Troy, I had just fired one that came as part of a service. I was going to get a rebate to use their agent. They couldn't have paid me enough after the interaction with both her and her staff. Once again, she had her own agenda and wasn't listening. Our experience with Justin of Team Troy was completely the opposite. When I first spoke with him, he was advised from the start that we were not interested in having an agent, but just wanted someone to show us a house that his company had listed. After speaking with him for about 15 minutes, we changed our mind. Despite knowing that we weren't interested in an agent, he was obviously excited about what he did for a career. He educated us with no expectation of a return on his time. He was available and supportive through the entire process and I will be doing business with him and Team Troy again soon."