Most buyers find their real estate agent in one of the following ways (listed from most common to least common):
1. Referred by a friend, relative or neighbor
3. Used agent previously
4. Saw contact info on a For Sale or Open House sign
5. Meet agent at an open house
6. Referred by another agent
7. Personal contact by agent
8. Employer or relocation company referral
9. Office walk-in
10. Internet search engine
Source: National Association of Realtors®
Selling a home For Sale By Owner (FSBO) is not an easy task, that’s why most FSBO’s end up hiring a REALTOR®. Nationally the success rate of FSBO’s is very low. Over 80% of all FSBO’s end up hiring a REALTOR® to get their home sold in the end.
Why is it so hard to sell without a REALTOR®?
1. Determining the right listing price – Pricing a property correctly is probably the most important step when placing your home up for sale. If your home is not priced right, then you stand a slim chance of selling in a competitive market. A REALTOR® will have access to the sales data, plus their experience to best advise you on a proper listing price.
2. Buyer’s want your commission savings – One of the things most sellers don’t understand when deciding to go the FSBO route, is that many buyers know you are marketing you own home in order to save the commission, and they want a part of that savings. Many of the buyers will take 5% right off the top regardless of whether the home is priced well or not.
3. Availability for showings – It’s hard for many homeowners to be available to show their home at the time buyers want to look. Buyers can come at all hours of the day and night. Most serious buyers are looking at a number of homes within a given time period and are not willing to rearrange their schedule to accommodate an unworkable seller. One advantage of having a REALTOR® is they can take care of all showings, thus freeing you up to keep your life as normal as possible during the selling process.
4. Showing to unqualified buyers – It’s a waste of your time and the buyers if they are unable to obtain the financing needed to complete the purchase. If a REALTOR® is involved, in most cases only pre-qualified buyers will be looking at your home.
5. Negotiations & inspections – This is an area where an inexperienced seller can put their self at great risk. When your dealing directly with the buyer you can be put of the spot with answering questions and making decisions without thinking them over carefully. You might unknowingly commit to something without understanding all of the cost and time considerations. Negotiating buyer inspections on your home can be tricky as well. These are areas were a REALTOR® will look out for your best interest.
While it’s not impossible to sell your home on your own, you can see there are many pitfalls along the way if your not experienced. By hiring a REALTOR® studies have shown that you will usually sell your home for a higher price, and you will have someone on your side to make the process much easier.
Leading Real Estate Companies of the World® is a network of over 500 of the very best real estate firms that are located in over 40 countries. These firms have 4,000 offices with 120,000 sales associates. In 2012 these firms had sales of $272 billion dollars representing over one million transactions, which placed Leading Real Estate Companies of the World® #1 in sales volume in the United States.
Firms affiliated with Leading Real Estate Companies of the World® can offer sellers global exposure of their home in addition to strong marketing expertise at the local level. Leading Real Estate Companies of the World® has the resources to market your property to the highest possible number of potential buyers. With 120,000 talented associates around the world, they expose your property to buyers on six continents ensuring more eyes are on your property. In addition they receive inbound clients from other affiliates around the globe who are interested in purchasing a home.
If you are looking for the best real estate firm to sell your home, then you need to consider a firm that’s affiliated with Leading Real Estate Companies of the World®.
Ferguson Realtors is a proud member of Leading Real Estate Companies of the World®. Go to www.KnoxSold.com to find out more about us.
I have worked for Ferguson Realtors for 16 years and they have promoted, supported and help grow my professional career in real estate. Ferguson Realtors is always on the cutting edge of technology with high quality video, photos, websites and creative ideas in advertising to get homes Sold! Their ethics and integrity, that is the Ferguson name, is also unparalleled in the business. Ferguson Realtors has a personable and friendly atmosphere to work in, while being one of the leading Realtors in the industry. Ferguson Realtors is a company that I am proud to say that I hold my license with and plan to continue my career with for years to come.
Are you considering a career in real estate or a firm change, then check us out at www.TopofKnox.com.
More people are securing careers in real estate as the housing market shows signs of improving. Many REALTOR® Associations are reporting an increase in membership applications. The picture of just how many people are making the move into real estate is still unclear at this point.
The real estate industry lost a number of real estate professionals over the last four to five years, because there were not enough sales to support them. Many have remained in the business, but on a part time basis. They’ve been forced to take another job, just to make ends meet. As the market continues to improve, many of these folks will return to the business full time.
If you are considering a career in real estate or returning to the business, then check us out at www.TopofKnox.com.
Are you considering a career in real estate or a firm change?
If so; visit www.TopofKnox.com to learn more.
Price – This is probably the most important element of the six items listed. A property needs to be properly priced to attract buyers in the first place. Pricing a home too high will most often lead to a lower sales price and longer market time than if priced right in the beginning.
Property Condition – Properties that are in tip top shape will usually sell much quicker than a property that’s in disrepair or needing updating. Properties that are in substandard condition will often draw low ball offers from investors and those folks looking for fixer uppers. Additionally a property that’s not up to certain minimum standards will not be considered for government backed loan programs, which significantly reduces the pool of available buyers if your limited to cash or conventional buyers.
Terms – This item rates high on the list of elements because if a buyer is unable to locate the needed financing, then they will not be in a position to purchase your property in the first place. If interest rates are at an attractive level and lending standards are reasonable, then terms should not be an issue. If you have a hard to sell property, then you might consider offering seller financing. This would open up your property to those buyers that are unable to secure traditional financing.
Agent Marketing – Selecting an agent and firm that has your best interest in mind is most important. You want someone that will provide you the necessary information, so that you can make informed decisions throughout the process of buying and selling. Visit www.KnoxSold.com to find out more about agent marketing.
Market Conditions – This is one of the elements that you have little to no control over. Market conditions will determine a property’s value at any given time based upon the law of supply and demand. The market is ever changing as the supply of available properties for sale rises and falls. Values will rise as the supply of available properties dwindles, and values will fall if the supply of properties exceeds buyer demands.
Property Location – Location greatly affects the value of a property. Property values are mostly influenced by neighboring property values. Usually you will find like valued properties in company with with one another. When pricing property you will usually need to be priced in relationship to other properties in the immediate area.
All real estate licenses are not the same. Only real estate licenses who are members of the National Association of REALTORS® are properly called REALTORS®. They proudly display the REALTOR “®” logo on their business cards or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
Here are some reasons why you should consider using a REALTOR®:
1. Your REALTOR® can help you determine your buying power.
2. Your REALTOR® has many resources to assist you in your home search.
3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources.
4. Your REALTOR® can help you negotiate. There are a number of negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs.
5. Your REALTOR® provides due diligence during the evaluation of the property.
6. Your REALTOR® can help you in understanding the different financing options and identifying qualified lenders.
When buying or selling real estate, look for an agent who proudly displays the REALTOR “®” logo.