By Andy Carter Jan 2018
Why I believe it isn’t a good idea to go FSBO...
Complexity: My questions previously show how detailed a housing sale can become and those issues are just the start. Are you ready for the SPD, the lead paint disclosure, do you understand deeds, what about use permits, wells… Do you really know how much is too much or what is a reasonable offer from the Buyer to purchase your home? Are you familiar with all the ins and outs of the contract? And everything that you should disclose? What if you didn’t disclose something that you should’ve and a year later the buyer discovers the problem, and it impacts their living in the home. Are you ready for the legal issues that lie ahead? Do you want to assume that risk? What if something unexpected comes up, are you ready for that contingency?
Negotiation: Maybe you are a professional negotiator. If so, you know that knowing your subject matter is the difference between “winning” the negotiation or coming out on the short side of the interaction. You also know that to be effective you need to be able to ‘detach yourself personally’ from the home you are selling. The transaction doesn’t have to be a win/lose proposition. You want to sell your home and they want to live in it. Now are you ready to make those two things a reality? I’ll agree that negotiation isn’t rocket science, but there is an art to it. Some of us get to practice this more than others and are more adept at it than others. Plus, negotiation doesn’t begin and end with the offer. You have Amendments/Extensions that frequently occur, and this involves negotiation. Do you know when your contract is most likely to be terminated? If you’re not on the top of your game in negotiating this critical juncture, then your deal may fall through. Just when you think the negotiation is over, you have to interact with the appraiser. Are you ready to speak their language and make your argument for the valuation of your home something they will buy into?
Time: Are you ready to spend the 50 to 100 hours on your own to sell your home? Remember you probably only do this once every 10 years, we do this monthly or weekly and are daily engaging the market, talking to others about their expertise, their area, and the latest issues to be aware of in the market. Time is also related to showings. Who are you going to let in? How do you vet them? Are you there when they walk through the home? Do you stop whatever you’re doing to be with them? Are showings available only when you are available and not when potential buyers are available?
Experience: Just like my self-medicating or my attempt to fix the vacuum, I am able to learn a lot from the internet or just by talking to others. I get it, there is a lot of information available out there. But you know, nothing replaces experience. Heck, I did end up buying a new vacuum!
What do we want from our kids? We want them to listen to the appropriate adults, learn from those who’ve been around the block a few times more. Ask questions and learn. Experience is invaluable and when I don’t know something, I want them to ask others that do know something. Is selling or buying a home any different?
Full-time Realtors are in and out of homes on a weekly basis. They are talking to people about buying and selling homes regularly. They take classes on various issues (negotiation skills, marketing skills, social media, staging, contracts, disclosures, water law, 1031 exchange, best practices, open house strategies…) all to sharpen their tools in their toolbox. Regular interaction with the market, classes to get the best ideas plus opportunities to apply what they learn will give an agent an advantage over the weekend warrior any day who maybe sells a home every 10 years.
The current number is large; around 80% of all FSBO’s eventually use an agent. So, if you decide to change your mind, go a less stressful route, and need someone to work on your behalf to sell your home I’d love to talk to you and develop a plan so that you can move on to your next stage of life!
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