Posts Tagged ‘fsbo’

Some Realtors Just Won’t Get It

You are running out of time. You need to sell your home fast. Most homes are sold with the help of a Realtor. You are more likely to be successful if you have one on your team.

You need a Realtor for their experience, their negotiation skills and their MLS. But before you sign that Listing Agreement, BE SURE you will be working with a Realtor who is also able and willing to "think outside the box", who is flexible and open-minded. A Realtor who is working FOR you. They must be willing to let you get involved in their process.

Generally, these will be the younger, newer Realtors. Their listing presentations will not be as polished. They will not have their faces up on the billboards or featured in the real estate magazines. But, they should be confident, energetic and have some negotiation experience.

Most Sellers sign an Exclusive Right To Sell listing agreement with their Realtor. This is a legal contract they are making with their Real Estate Agent’s Broker – not usually with the Real Estate Agent themselves.

You are hiring that Broker to find you a Buyer who is willing, ready and able to purchase your house at the price you are requesting – and you are locked in for the duration of the agreement (usually 6 to 12 months) which is negotiable.

With an "Exclusive Right To Sell" agreement, even if you do all the work and find a Buyer yourself, you are still required to pay your Broker the sales commission you agreed to (typically 5% or less these days).

However, there is another option available to you known as the Exclusive Agency agreement. Your Realtor will probably NOT even offer you this option. You must know enough to request it. Only about 5% of listing contracts are of this type.

With an "Exclusive Agency" contract, you reserve the right to sell your own property yourself through your own efforts; and if you do, you do not owe a commission to the Broker. However, if a Realtor does find you a Buyer, you are required to pay them the agreed commission.

Your Realtor will be more energetic and focused on your behalf if you sign an "Exclusive Right To Sell" agreement with them. Remember, no one cares about finding a Buyer more than you do. The key to selling your home quickly is to get involved with the marketing and work with the right sort of Realtor to get your through the process.

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You Must Get Involved – Or Else

It is easy for Sellers to believe that their home is worth more that it really is. Sellers make the mistake of asking for too much – and even out of desparation asking for too little.

To get the best price possible, it is essential to let the marketplace do its thing. That means getting as many Buyers as you can to see your home and make you an offer – Ideally generating multiple competing offers.

The current real estate market is just the opposite of what it was a few years ago during the boom years. Today, its a Buyer’s market. They are in the driver’s seat and the scales are tipped in their direction. It’s the simple law of supply and demand.

Currently, there is excessive supply in the marketplace which tends to force prices lower. The old strategy of "list and sell" just does not work effectively in this situation. If your home is not properly priced at or slightly below true market value, what Buyers there are will not even consider taking a look at your home.

To make this happen, you need to step up to the plate and get involved yourself. No one cares as much as YOU DO about selling your home. A Realtor will give it their best for 3 or 4 weeks, but they probably have other properties to sell and other opportunities to pursue – YOU DON’T.

If you choose to use one, your Realtor can be an important member of your home selling team. They have the MLS. The good ones are experienced in negotiation and market evaluation. But, they do not have unlimited funds to conduct an extensive marketing campaign for every home they list.

That’s where you can help by involving them in executing a simple, straightforward, step by step marketing campaign which will bring Buyers to your door and allow you to sell you home for the best possible price.

Don’t sit on the sidelines – get involved, take action. make it happen.

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