I just received this article with the updated numbers regarding unrepresented sellers.  This study was just released Jan. 17th.  My prior article regarding unrepresented sellers contained the statistics from last year's study.  The numbers still reflect what I said in my last post:  the Internet is important, and fortunately, the majority of people believe that Real Estate Agents are important, too.  Thank you!  Since there is currently one real estate agent for every 132 man, woman, and child in America, how do you select the agent best for you?  Hum... I'll be thinking about that, and make that my next post!  See ya on the 'net!

As you may know, I work primarily with buyers.  But that gives me a special insight into sellers!  Our office recently added a listing agent, and it is really interesting to me to see the dynamics between the seller and an agent.  I'm going to point out some items for you to consider if you're thinking of selling your home.

Our season is hottest in spring and summer, and cools down during the fall and winter.  That might lead one to believe that it is foolish to list a home in the winter.  Nothing could be further from the truth!  During winter, there is less competition, and if your home is decorated for the holidays, what better way to show it?  Although there may be fewer buyers in the winter and fall, the ones we have are usually more serious, and often have a deadline due to a transfer or 1031 tax exchange that requires them to buy NOW. 

How do you select a listing agent?   First of all, you want someone with whom you have (or can establish) a good rapport.  You want an expert who can give you the facts; not simply tell you what you want to hear.  Anyone can list a house, but do you want to LIST your house, or SELL it?  If you choose to use a professional, select someone who is going to be honest with you! 

Once you decide to put it on the market, you need to start thinking of your "house", not your "home".  Get rid of clutter, take down personal pictures, and view your house as if you were seeing if for the 1st time.  Did you see dirt on the door frame you hadn't noticed before?  That's good!  That's what you're looking for, details that you overlook every day.  Maybe all that door frame needs is a shot of 409!  Better to do it now, instead of having the buyer see it first!

What about listing your house giving a "credit" for a carpet allowance, or new paint?  In my experience, the seller ends up paying for it twice!  If you give a credit to replace the nasty carpet, you can bet that the buyer is going to knock money off of his offer because of the nasty carpet.  So your offer is a reduced price, and you're going to give them a monetary credit at closing for that same carpet!  You might be much better off in replacing the carpet with an inexpensive neutral colored carpet before you put it on the market.  

What about selling your house yourself (FSBO)?  I'm no stranger to trying to save money!  But I don't think it's a good idea for everyone.  A home is the largest investment many people have, and unless you are an expert in marketing and real estate law, it would be an excellent idea to at least interview a professional to get some guidance.  FSBO is really not a bad idea if you meet 4 criteria: 

1. Do you have the time to be available for all showings?  Buyers want to see the property when they want to see it, and are not very forgiving or understanding about working with someone else's schedule. 
2. Do you have the expertise to cover all of your legal responsibilities?  One thing that would help is to complete a "Seller's Disclosure" so that any problems that you are aware of with the property are disclosed to potential buyers.  The buyers signs the disclosure at the time an offer is made, giving the seller documentation that the buyer was aware of the condition of the property before the contract was signed.  That provides both the buyer and seller with a level of insurance, and heads off many problems before they occur. 
3. Do you have the marketing expertise to showcase your home?  With over 80% of home buyers beginning their home search on the internet, and website is almost a must for effective marketing today.  Especially in our area, where we have so many buyers looking to move into this area who have never even been here!  At least 60% of my business comes from people who are coming to the area to specifically look for a place to retire or a 2nd/vacation home, and the majority of them have a good idea of the properties they want to see when they get here.  And of the remaining 40%, many are relocating to this area due to a job transfer, and they, too, have been searching for their new home on the Internet!
4. Can you be objective and price your house correctly?  If your house sits on the market because of an overinflated price, it gets stale, and even when the market catches up with your price, the property tends to get overlooked.  Anything that has been on the market for 30 days with no interest indicates that the price may need to be adjusted.  Remember, real estate agents don't set the price; the market sets the price.  Price it correctly, and it will sell!

If you do decide to list your home with an agent, pick someone who works well with other agents.  Over 80% of listed homes are sold by agents other than the listing agents, and the commission covers all costs incurred in selling your house including the commission  for another agent to find a buyer for your property.  If you ever have someone explain how commission works, you'll be surprised that you are getting so much for so little!  Did you know that the typical FSBO home sold for $163,800, compared to $189,000 for agent-assisted home sales?  Consider these statistics -

FSBO Methods Used to Market Home:
Yard Sign . . . 63%
Friends/neighbors . . . 25%
Newspaper ad . . . 44%
Open House . . . 33%
Internet . . . 24%

Most Difficult Tasks for FSBO Sellers:
Getting the right price . . . 24%
Understanding paperwork . . . 22%
Preparing/fixing up home for sale . . . 24%
Attracting potential buyers . . . 10%
Having enough time to devote to all aspects of the sale . . . 5%

(Source: 2004 National Association of REALTORSŪ Profile of Homebuyers and Sellers )

Whatever you decide, I wish you well.  If you would like to speak to our listing agent, her name is Cheryl Fisher, and she can be reached at 912-996-3727.  She knows her stuff!  Give her a call, and let me find a buyer for you!  And of course if you're looking to buy property, call me anytime!  I LOVE this stuff!

See ya on the web!