The Dynamic Daily

Why not sell your home without a REALTOR?

Most people try to sell their home without listing it with a REALTOR for one reason...and that is to save MONEY!  No one usually makes that decision in order to save time or just because they dont want anyone else involved.  I can appreciate the desire to save money, but dont go at it alone without considering the following:

1.   roughly 85% of buyers use a REALTOR to PURCHASE a home.  So if your home is not in the MLS, the largest pool of buyers probably wont ever know your home is available.  Some REALTORs search for ForSaleByOwners for their clients, but showing those homes are such an issue, that most buyers decide not to even look at them.  (please dont be mad at me, I am just telling you the reality of the process!)

2.   so this means that your buyer will most likely come from the remaining 15% of buyers (the ones that are not using a REALTOR).  But why did these buyers decide NOT to use a REALTOR...I bet you can guess already...they want the money savings passed on to them.  To make it even worse, this group of buyers are typically the most difficult to work with and they will walk away from a home that they cant buy at a discount.  So now your decision to save money has you dealing with a very narrow market of buyers that are the most difficult to work with and who want the money you were trying to save to begin with.  (please dont be mad at me, I am just telling you the reality of the process!)

3.   ready for the really good news???...I wish I had some for you.  Even though some do sell their home themselves, the reality is that of those that do, most end up netting even less money than they would have had they used a REALTOR.  (please dont be mad at me, I am just telling you the reality of the process!)

I dont want to tell you that you cant sell your home yourself and net more money, but what I am saying is that its not very likely at all.  At least have this conversation with a REALTOR before wasting precious selling time trying to do something that will prove very aggravating and may even result in the unnecessary loss of thousands of dollars.

Never on Friday

Even though it seems like a good idea,I advise against scheduling real estate closings on friday.  In today's world, there are far too many things that can and do come up at the last second and push a closing to the next day. 

Issues that come up dont have to be a big deal, but if its 3 on friday and you suddenly start seeing the chance of closing that day slipping away, the stress level goes through the roof.  The truck is packed and you are just waiting to sign all the paperwork when you find out that something is missing and closing cant happen that day (this happens all the time). Not such a bad thing if you can regroup the next day to close, but if its friday, you're stuck for several days.  Even if monday goes without a hitch, it puts a real nasty scar on the home buying or selling experience.

Avoid the chance of this kind of drama and ask for a wed or thursday closing.  Its not quite as convenient but you'll reduce the stress and be able to smile when the attorney walks in and says there may be a delay.

Has there been a murder, suicide or child abuse in the home?

Under most circumstances, sellers arent required to voluntarily disclose these types of issues or "stigmas" when marketing their home.  But if knowing this type of event occured in the home would prevent you from buying, you can ask specifically about it.  Except for a few instances, the sellers must answer direct questions concerning any known "stigmas". 

If this is an issue concerning you, then have a conversation with your REALTOR and/or attorney.

How long will it take to sell your home?

Frequently REALTORS will give you an average days-on-market (DOM) number in order for you to have some idea of how long it will take to sell your home.  But before you get comfortable with that number, be sure to ask how they arrived at that number.  If they didnt do it properly, their number may have little meaning and will give you unrealistic expectations.  Knowing the real number might even make a difference in how you price or market your home.  Ask your REALTOR' if in calculating their number, they took into consideration:

1.   The number of homes that didnt sell the first time they were listed. 

2.   The number of homes that were listed but were withdrawn before being sold.

3.   The number of homes that expired without ever being sold.

Using this information frequently creates a drastic adjustment to the actual DOM, so insist that you at least talk about it before moving forward with the sale process.  This is especially crucial if a timely sale or maximum dollar for your home is important.

Can you believe those pictures?

Most home searches start online and what do you think people use first to rule out a house?....yep, the pictures!  If the pictures dont represent your home well, the pool of potential buyers shrink considerably along with the probability of a speedy sale.  People dont want to go look at 50 homes, so they pick the ones that look the most appealing. 

When choosing your REALTOR, ask them about the pictures they intend to take.  Will they be done with the camera on their phone?  Will an assistant or spouse stop by with a cheap camera and do some snapshots?  I ask these questions because i see it done all the time and its just too important to ignore...the sale of your house depends on quality pictures.  Ideally the home should be prepared for pictures and then done professionally.  Some REALTORS do a good job themselves, but they are the exception to the rule.

Have your potential REALTOR send you a link to their last 5 listings.  Take a look at the pictures and see for yourself how they look.  If those are done poorly, theres no reason to believe that yours will be any better. 

Once you choose a REALTOR, ask them to send you a link to your listing to be sure you are happy with the pictures.  If you're not, theres nothing wrong with questioning their judgement and asking for them to be redone.  The good part is that if you choose your REALTOR wisely based on past performance, theres little chance you will have a problem.

Why pick the most desirable home?

Unless you are in the very small category of folks who only buy one home their entire life, one day you will want to sell your home.  WikiAnswers says that 3/4 of the American population moves once every 5 years.  So when you are ready to sell (which for numerous reasons may only be a few years from now), you want to have chosen your home wisely...otherwise you will find yourself deep among the sellers that either cant or have an extremely hard time reselling their home.

I strongly advocate buying the most desirable home in your price range.  By most desirable, I mean that it has all the features and benefits that most other buyers look for when chosing a home.  You may not get quite as much house for the money, but I can almost guarantee it will provide you more satisfaction while you are there and certainly more satisfaction when you get ready to sell.

To get a list of the top 14 things that most people desire in a home, email me at rick@RickStroudWorldwide.com and put "Most Desirable" in the subject line.

What about the grass?

It shocks me everytime I drive by a home listed for sale and see the grass in desperate need of mowing.  I hope their REALTOR is screaming to them about it, but it should go without saying that the lawn needs to look move in ready just like the house.  Decisions about a home are made in seconds and if they see an unkept lawn, most will assume the inside will look exactly the same.  I am not saying that you need to have the lawn professionally maintained, but there are a few things that you can do to make the outside of your home grab peoples attention (in a good way). 

For 5 quick tips on how to make your yard standout, drop me an email at rick@RickStroudWorldwide.com and put "What about the grass?" in the subject line.

Before you hire a REALTOR...

There are a lot of terrific REALTORS, but with almost 2000 just in the Greenville market, you can be sure that not every one is the best choice for you.  Resist the urge to hire a REALTOR just because your friend knows them or because you are related somehow.  That method used alone can put you on course for a potentially horrible buying or selling experience.  There are lots of questions that need to be asked when determining if a particular REALTOR is right for you, but one that quickly gives you some insight into their level of professionalism is:

What real estate education or training clasess have you attended in the last 3 months? 

There isn't necessarily any right or wrong answer to this question, but what you want to listen for is how engaged (or how serious) they are in the business of real estate.  REALTORs that take their profession seriously never stop taking advantage of the opportunity to learn.  Wouldnt it be this type of REALTOR that you would want helping you with one of the most important decisions you'll make during your lifetime?

To get a list of 9 more questions you should ask before hiring a REALTOR, email me at rick@RickStroudWorldwide and put Before You Hire a REALTOR in the subject line.

Why Homebuyers Use a REALTOR

Even with all the internet searches available, the number one reason (by a large margin) that home buyers say they use a REALTOR is to help them find the RIGHT HOME! Negotiating PRICE and TERMS come in 2nd and 3rd (according to NAR)