- 2018 Posts

  1. FHFA Conforming Loan Limits 2019
  2. How 2018 Market Trends Will Affect Wisconsin Buyers
  3. No Money Down Home Loans Appleton Oshkosh Green Bay Wisconsin
  4. Benefits of using FHA for your home loan
  5. Benefits of being a homeowner
  6. Wisconsin local lender vs online lender
  7. Home Loan Pre-Approval
  8. No Money Down Home Loan
  9. Serve and Support Loans
  10. Debt Consolidation and Cash Out

+ 2017 Posts

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+ 2015 Posts

Listing Your Home with a Realtor VS For Sale by Owner

April 12, 2016

Last week we discussed the pros and cons of searching for a home with or without the help of a Realtor. The other side of the coin is listing your home listing with a Real Estate Agent or For Sale by Owner (FISBO).

 

On first examination, many are tempted to list their homes themselves, in an effort to sell the home without paying a fee to the realtor if it sells. There are some websites that allow you to create a listing for your home, and usually these sites charge a fee for the listing. With most realtors charging the sellers anywhere from 3-6% of the sale price, this may present itself as a bargain way to sell your home grass roots style.

 

Unfortunately, listing yourself comes with many drawbacks. Right out of the gate, you will be showing your own home, with no staging advice from a realtor, nor any vetted disclosures on the current home condition. Many experienced in the home selling market will tell you it is never a good idea to be present when buyers are looking at your home. Just being present during a showing can be off-putting to buyers, making them feel hurried or watched. They do not feel free to have a conversation about the home in front of the buyer. Additionally, you may find yourself telling potential buyers non-relevant information. If a buyer asks the homeowners, "Does the roof have any problems?" Instead of a simple No, the homeowners may find themselves offering up what has happened in the past, even though the issue may have been corrected, it leaves the buyer with the negative impact hearing the answer to the question as Yes.

 

Unfortunately, with any FISBO home it is unlikely to be shown by a buyers realtor. Even if you have exactly what their client is looking for, the realtor will not be paid if the buyer makes an offer on a FISBO property. This may seem unfair to many hoping to sell their home as a FISBO, but when was the last time you told your boss he didn't need to pay you for a 1-6 months worth of work? Never! It's important to remember that an agent helping a buyer only gets paid for all their leg work when their client actually buys a home. That's where the realtors commission comes from. A realtor only makes money from the sale of your home if and when it sells. Realtors are highly motivated to list your home exactly as the market is indicating, to help you achieve your sale goals and create a buying drive in home buyers. They offer strong advice on pricing to sell, quickly. A home priced well, creates a sense of urgency in the buyers, often times resulting in multiple showings immediately after listing, and if all goes well, multiple offers.

 

Staging and honest straight forward disclosures allow your realtor to do what they do best, and that is prepare your home for sale with a great listing. Other realtor sites pick up the listing and your house is then on every realtor's site that is tied into the MLS system. Listed as FISBO, your listing will not be shown on any realtor sites, and unless the website you are listed on is advertising everywhere, all the time, odds are your home will not be found. At the end of the day, you need people to see your listing and the smart marketing that a realtor offers. Picking an experienced realtor to list your home, negotiate your offers, and help you reach your goal of quickly selling your home, will help you avoid any headaches in the process.

 

 

Ron Meyer
GSF Mortgage Corporation
300 Patriot Dr.
Little Chute, WI 54140
(920) 788-9608
rmeyer@gogsf.com
NMLS #222688 & 1018