Tag Archives: MLS

Why You Should Never List A Home “For Sale by Owner”

Why You Should Never List A Home “For Sale by Owner”Sellers sometimes believe that selling their home without the help of a real estate agent will be quick and painless, however that is not the case. If you are considering listing your home as “for sale by owner,” first, consider these reasons why you should hire a real estate agent:

Paperwork.

Selling a home is not all about listing off the features of your house and signing on the dotted line. A lot of the work that goes into accepting an offer and closing on the home is legal paperwork, and many sellers who try to do it alone quickly become confused and agitated. Of course, many sellers take to the web to download a contract template, but then forget that there are different rules depending on the state that you live in. They also forget that it is almost impossible to find a pre-made real estate contract that covers everything you need to sell your home, since each transaction is so different in the industry. Let real estate agents handle the paperwork and the rest of the sale.

Lower sales.

People who sell their homes without the help of an agent primarily do so because they do not want to pay the agent’s commission check. They believe that doing it on their own will save them thousands, so it’s worth the extra bit of work. However, as of 2015, sellers who listed their home “for sale by owner” did not make as much as sellers who worked with an agent. The median selling price for “for sale by owner” homes was $210,000 while the median selling price for homes sold by an agent was $249,000. If you think you’re saving money by not hiring a real estate agent, think again!

More time on the market.

If you want to sell quickly, then work with an agent who has a connected network of other agents and buyers who will be interested in your home. When you work on your own, you don’t have someone who is dedicated to marketing your listing out to the community, so the house will probably sit much longer than it would if you had an agent. Sellers without an agent probably stick to yard signs and websites such as Craigslist to get their listing noticed, while real estate agents can contact buyers, list on prominent websites and also host open house events.

Extra expenses.

To sell a home without an agent, you will have to be willing to invest money. Sellers will have to pay for the home to be photographed, the signage, the MLS  listing, an attorney if needed, inspection, and any marketing efforts. It may seem wise to take on this responsibility, but the truth is that selling a home without an agent is an expensive, time-consuming and confusing task.

Ready to sell your home with the help of a qualified real estate agent? Contact our team of real estate experts at Coast 2 Coast Realty who have years of listing and selling homes in the Tampa area.

Sell Your House Today! Find The Secrets To Selling Your Home

Selling your home can be difficult. Having to endure showings or lack of showings, repeated low offers and real estate agent excuses is not fun. The competition is tough and there are no magic beans, but there are several ways you can increase the speed at which your home sells. Take a look at our checklist and see if you missed something along the way.

1. Did you select the correct real estate agent? Did you know that twenty percent of the agents sell eighty percent of the homes? Is your agent in the twenty percent? Did you interview several agents? It may be too late to select another agent but if your home doesn’t sell with this agent then change agents when the contract ends.

2. Does your agent market your home? Is your home on the internet, in local papers, and on the MLS? If not find out why not. Ask your agent to start marketing your home. People will not just drive up to your home and want to buy it. Buyers need to see a home before they decide to drive by.

3. Does your home look like a model home? Check the look of your home from the street. How does it look? Walk inside your home, do you see a model home? If not, then create one. Remove the clutter, clean, and arrange so that your home is a show home.

4. Are you marketing your home? I didn’t ask if your agent is marketing your home. You need to be marketing your home. There are several free websites that let you advertise your home for sale. One of the best sites is craigslist.org. Make flyers and put them out at stores in your city. Make another flyer and deliver it to everyone in your neighborhood.

5. Is your home priced right? The number one reason why homes don’t sell fast is they are priced wrong. Don’t list your home for what everyone has their home listed for. This puts you in competition with many homes. Price your home for what other homes sold for, not what they were listed for. There are several free sites that offer . Use three or four of them and average the appraisals. I can’t stress enough the importance of pricing your home right.

6. Do you want to sell your home today? You can sell your home fast by offering your home to investors. You have seen the signs like “We Buy Houses” and “Sell Your Home Today”. These sites will take your information and pass it on to home investors in your area. Investors can buy homes fast, but normally offer less than what your home is worth.

Follow the above suggestions and improve your chances of selling your home today.

Home Selling: How To Set The Right Asking Price

Many homes remain unsold for a long time because they’re over-priced. Pricing your home right is essential if you want to sell your home in quick time. Expecting more for your home than the rates that prevail in the market will only delay the sale of your home, unless your home has something more to offer than other homes. When it comes to pricing your home for sale, you need to consider that your home is going to be competing with other similarly priced homes in your area and unless there’s a short supply of homes for sale, you’re going to have to set a competitive price.

All that said, some homes do sell for more as do some homes for less. It all comes down to how you set your asking price, how you go about negotiating and what are your costs involved in the selling process. Here, we’ll discuss how you can determine a fair asking price for your home in prevailing market conditions.

Real estate agents – Whether you intend on using the services of an agent to sell your home or not, they will call you to offer their services so you may as well get them to provide you with some information. Agents will usually offer to give you a free “Comparative Market Analysis (CMA)” of homes recently sold and presently on sale in your neighborhood. This data should be useful in helping you set a reasonable asking price, keeping the features of your home in mind and how it compares with the others.

Internet Listings – Browsing internet home listings will give you a fair idea of how much homes are priced in your neighborhood and how much you can sell it for. There are plenty of ‘by owner’ sites with many internet listings and there is also realtor.com which offers MLS listings.

Driving by the neighborhood – Surveying the area yourself and visiting homes presently on sale will give you a good idea of how much you can quote for your home.

Home Appraisal – Getting a real estate appraiser to put a value on your home, based on its condition and recent home sales in your neighborhood, should give you a fair price range in which you can sell your home. The appraisal can also be used to help justify your price when negotiating with buyers. (Get a free home appraisal done here.)

So set your price after investigating two or more sources, so that you can justify for the price you set. Your home will sell fast as long as there’s a reasonable amount of demand for homes in your neighborhood and you don’t overprice your home when compared to other homes in your area.

Best of luck with the selling of your home!

Thinking of Selling Your Home? Don’t Believe the Hype When Hiring a Realtor to Represent You

Just peruse through the Sunday newspaper, real estate books or scan various Realtor websites and you will see a lot of hype.

  • Largest Producer!
  • If we don’t sell your home we will buy it!
  • Your home sold in 39 days or we will sell it for free!
  • We will advertise your home until it is sold!
  • We guarantee to save you $5,000 on your next home purchase!
  • We will sell your home for 1% 2% or 3%!
  • #1 Real Estate Agent!

Real estate is a cutthroat, competitive industry. Realtors are always trying to find new ways to attract home buyers and sellers. With so many to choose from Realtors are constantly trying to make themselves stand out from the crowd. With this desire to be different we naturally create a lot of hype.

Let’s go through a few of the more common ways Realtors try to grab your attention.

Largest Producer!

People should be impressed by any agent that is the largest producer. Right? What if that Realtor is in a 2 or 3 agent office? It is not as impressive anymore. What if the agent was the largest producer for just one week? They don’t advertise that information. Again, not as quite as impressive. Most people just assume that the agent is the either the largest producer ever or for at least a long period of time like a year.

If we don’t sell your home we will buy it!

Are these Realtors so confident in their ability to sell your home that they will buy it if it does not sell? Not really. If you read through the details you will see that the chances of the Realtor buying your home are slim to none. Most of the agents who advertise this have never bought one of their client’s homes. In order for the agent to purchase your home there are usually numerous requirements such as them buying your home for the appraised value minus various costs like financing and marketing (broker commissions) fees. In the end, it does not make much sense for the home owner to sell to the Realtor.

Your home sold in 30 days or we will sell it for free!

This one is similar to the above hyped program. Typically, there is a list of things the homeowner would have to do to get the Realtor to sell his house without a commission. In reality, it rarely happens. Typically, the Realtor requires that the homeowner price the property at a value given by an appraiser or by the real estate agent. Other requirements may be:

  • the asking price of the home needs to be dropped frequently
  • when the home sells the homeowner would be required to buy his next house through the same real estate agent
  • the home would be required to be in showing condition all of the time
  • the home would also be required to be easily seen on short notice.

If the homeowner does not perform on any these tasks then the Realtor would not be required to sell the home free. There are all kinds of caveats that the agent can have to get them out of selling your home for free. Some of them are very entertaining.

We will advertise your home until it is sold!

Most Realtors will do this one without too many caveats. Most agents know that advertising rarely sells a home. A very small percentage of people buy the home they originally called on. The main purpose of advertising by a Realtor is not to sell your house directly. Advertising generates phone calls and some of those people become clients of the Realtor. Over time this builds up a list of home buyers looking for property. Another reason Realtors like to advertise is to get future listings. People thinking about selling will usually interview agents that advertise heavily. So when an agent tells you how much they plan to advertise your home keep in mind that most of that advertising benefits the Realtor and not your house.

We guarantee to save you $5,000 on your next home purchase!

Most home sellers have a built in cushion in their asking price. Here in Sarasota, Florida on the average a home will sell for about 97% of list price. If I sell a home for $350,000 chances are that the home was listed for $360,000 – $365,000. In this situation it would be pretty easy for the selling agent to say he saved his buyer $10,000 – $15,000. Was the agent such a shrewd negotiator that he got the seller to drop his price? Most likely not. The seller probably just factored a 3-5% cushion into their asking price.

In many instances, especially in hot markets, homes sell at or above their asking price. Most Realtors who advertise these guarantees either give you something small such as a home warranty or a some other type of buyer credit if they do not help you negotiate a lower price.

We will sell your home for 1% 2% or 3%!

This is another hook that Realtors use to attract home sellers. Usually this 1% 2% or 3% is the listing agent’s fee for selling your home but it does not include any co-broke fees.

Depending on the market, sellers will list their home anywhere from 5%-7%. What happens now is that the listing agents goes to the Realtor community via the Multiple Listing Service (MLS) and offers a co-broke fee (usually 3% or half of the total commission). If the other agent brings the buyer he is paid the co-broke fee. The majority of real estate transaction involve 2 Realtors. Therefore, the 6% total commission is split between the two agents. Often times when an agent advertises 1% 2% or 3% they are only advertising their fee but the commission goes up if you want your house listed on the MLS. Most of the time it is crucial to have your home listed on the MLS.

#1 Real Estate Agent!

#1 at what? Are they the absolute best Realtor in the world? Have they sold the most real estate? Are they always the biggest producer? Did they sell the most homes last week, last month, last year?

I see Realtors throw this one around a lot. Any real estate agent can #1 at something on any given day. There are so many statistics in this industry that it would be pretty hard not to find an agent to be #1 at something. I think agents use this one because it tends to grab people’s attention more.

I think it is normal to see this type of marketing in a highly competitive industry. I feel it is the nature of the business and there is nothing wrong with it. Many successful agents have used or are currently using these marketing ideas. When looking to find an real estate remember not everything is as it seems.