When it comes to property in Denver,
and all throughout the world, there are many ways a transaction can be
completed. It is common to see your
traditional transactions, where there is a buyer and seller, and an agent
represents each party. Occasionally, the
seller may decide to try and sell the property without an agent.
Many factors come into play as to why a
seller will look to the FSBO route, because their local community is in the
midst of a sellers’ market and they think they can sell easily without help.
Others try the FSBO route because they want to maximize their profits and avoid
paying a commission to a Realtor.
When trying to save money by not paying the commissions, in
the long run this actually hurts the seller.
Statistics show that selling your home with the assistance
of a professional real estate agent will garner you a higher profit, enough to
cover the commission as well as put more money in your pocket.
According to the
National Association of Realtor’s 2013 Profile of Home Buyers and Sellers,
the average FSBO sales price was $184,000 while the average price for a home
represented by an agent was $230,000, a difference of $46,000
Again, many factors go into why a
realtor can save you thousands of dollars on transactions, as a few of the
highlights are outlined below:
A Realtor has access to market data about recent sales
and other homes on the market that can be used to price your homeappropriately. Studies show that homes priced right
when they’re first listed sell more quickly and for a higher price than
those that linger on the market.
A Realtor can show your home when you aren’t available,
can respond to inquiries from potential buyers and their agents, and can
get valuable feedback from visitors – all things that save you time.
A Realtor can look at your home objectively and suggest
ways to improve its appearance – by staging and minor repairs - so it
appeals to more buyers.
Realtors have contacts with other Realtors who work with
buyers, and the support of a brokerage that can market your home more
widely than you can as an individual.
A Realtor can help you negotiate that not only garners you an appropriate price for
your home, but that meets your needs for a closing date. In addition, a
Realtor can make sure your contract is in compliance with all local
addition in the 2013 Profile of Home Buyers and Sellers the most difficult
tasks for FSBO sellers were:
and performing paperwork: 18%
right price: 13%
up home for sale: 12%
obtain financing: 3%
the planned length of time: 7%
time to devote to all aspects of the sale: 6%
the end of the day FSBO transactions can be successful, of course, but there
are multiple reasons over 90 percent of homeowners prefer to work with a
professional rather than risk an unsatisfactory home selling experience.
Curious what your home is worth?
Use our FREE online valuation tool Click Here!
Michael Kane is a Broker Associate at Keller Williams. He is a member of the
Carr Peck & Associates team that is recognized locally and nationally as in
expert in real estate. Locally he is a member of the Denver Metro Association
of Realtors. Nothing brings him more joy than making his client’s dreams
become a reality! For more information feel free to contact
him or call 303-717-9284.
Information courtesy of nar.com. Image courtesy of google.com
Author:Jason Peck Phone: 720-446-6301 Dated: October 6th 2014 Views: 588 About Jason: ...
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"We worked with Karen Venier for a relatively short time for a good reason: our home sold at full price within hours of hitting the market! While it’s true that the Denver housing market is “hot,” credit for the speed and ease of our transaction belongs to Karen. She was great to work with, giving us perfect advice about readying our home for sale and then expertly guiding us from offer to close. Along the way, we came to appreciate Karen for her skillful blend of professionalism and personal touches – like dropping off our favorite beverages during a particularly stressful time in our move or shoveling our driveway in subzero temps after we’d left the state (way beyond the call of duty!). Now that we’ve relocated to Wisconsin, we keep saying that we wish Karen could be our buyer’s agent here. Since that’s not possible, we’ll shout her name loudly to whoever might be looking for a home in the Denver area.
Thanks for the great work, Karen!