As I started to write this article I did much research, I interviewed Realtor Associate @ Donnie Weddle Keller Williams Realty. I reviewed reports from ( NAR) National Association Of Realtors and a few reports from Zillow. I finished my research by talking with the good folks at Southern Belle Properties, LLC a local residential re-developer in the Tulsa area. In my article you will see discussion on listing your home with and agent verses trying to  sell it FSBO or selling directly to an investor, the following article is what I have discovered.

To sell your home yourself is as easy as taking a selfie right?  Wrong, selling your home yourself is not for everyone.

FSBO’s move to listing with an agent on average between 30 to 45 days. It is actually more than 80% of FSBO eventually sell with an agent.

Why do you ask? Many homeowners struggle to balance their checkbook, selling a home is quite a bit more complicated than that.

There are reports that over the last four years some 26% of buyers and sellers have tried going it alone.

Just less than half of those succeed, the remainder wind up listing with a traditional brokerage, however some work with a discount brokerage offering a limited service.

The National Association Of Realtor’s studies show the majority of homeowners who try selling by themselves eventually change their mind and list with an agent.

selling a home is not rocket science but it is a matter of access. When an agent list you’re home on the MLS or Multiple Listing Service that information gets populated to numerous websites who either purchase that data or have an agreement with the association for the access.

The positive for you is the more eyes looking at your property the better chance it will sell.

When it comes to discount brokerages you need to ask yourself how they can do it cheaper. What are they doing or not doing that allows them to list your house cheaper than the other guys? My advice interview multiple agents before signing with one,  if listing with an agent is the path you chose to take. Not all agents and brokerages are created equal.

Let’s talk about what a good agent does for you. The first step is they give you a presentation explaining their marketing approach, they will ask you to sign a listing agreement, you will have multiple documents they will ask you to sign and fill out, the disclosures should be easy for you as if you followed the law when trying to sell as FSBO  you had already filled them out. No? You say  you didn’t know you are required to disclose as a FSBO?

Most people are not aware of the legal jeopardy they put themselves in when trying FSBO.

Ok,  so back to what an agent usually does for you. List your home, market to past clients, market to potential buyers through numerous methods, most good agents will be at all inspections and appraisals , just let them know you require them to be at any inspection or appraisal performed.

You will probably be given advice from the agent on the best way for your home to show to potential buyers. Let’s hope they did this with you before photos were shot. If it hurts your feelings get over it and if you can afford to do what they are telling you to do get it done.

As homes sales began to slow or shift sellers have to devise ways to get their house more attention.

Some homeowners who try FSBO spend hours every week taking flyers around to grocery stores, laundry mats, YMCA’s and many other public places so they may get attention to the property.

Less than half of FSBO use the internet to list the property. Studies show that more than 90% of buyers start their search online.

Once they have narrowed the search, the buyer will locate an agent to show them homes. The buyer should be prepared to be pre-approved for the loan before an agent will show properties.

This is something a FSBO doesn’t usually think about at this point. Think about it why would you want someone coming in your home looking around if you’re not sure they can get the loan to purchase it?

There are of course other options for an FSBO that doesn’t want tons of people coming through the home and does not want to give up 4-6% commission. There is a group of professionals in most communities that will make you a cash offer for your house.

A few things to think about if you decide to explore this option.  Are they reputable? Do they have proof of funds? Do they buy with cash? If they have cash that;s a good thing because they can close on your timeline, not a banks. Most investors will not ask you to make repairs.

Some investors can make you an offer the day they view the property. Don’t be rushed take your time to read all documents before signing anything. Most Title companies will assist you when reading your contracts and other materials. Tip: don’t wait till you have an offer to locate a Title/Closing company.

You should realize that when selling to an investor, you are not selling at the market value of the property. However, you will not have to do repairs, you have not done any advertising, there is no commission being paid, and usually, they can close quickly.

While the price paid is less than if sold at retail your expenses are much less.

The decision to list with an agent, put your house on the market as an FSBO or contacting an investor is a personal choice and one that you should get advice.

The agent will run the numbers including a Net to Seller after all expenses. When you contact a Title company as I recommended you can have them give you a Net to Seller if your selling to the public or an investor.

Again making that decision falls on you and your personal needs. If you need to sell it now, the investor will more than likely put less money in your pocket but will be very quick. Selling FSBO may put more cash in your pocket than any of the other methods. However, it may not sell, or you may sell it too cheap.

You can always contact an agent for a market analysis or a comp as its called. They will give you this report for free with the opportunity to show you how they can sell your house. Our friend Donnie Weddle Keller Williams Preferred Realty has furnished a link for me to include for you.

CONTACT ME FOR A FREE HOME VALUATION  

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In closing, to hire or not to hire an agent is your call. If you do choose to hire one interview multiple agents. If you decide to sell to an investor talk with at least three of them. Finally if you decide to sell it FSBO do your research.

Thanks for reading my blog. Have a great day.