April 12, 2017
Vida Glaser, B.Sc.
Are you putting yourself and your biggest asset at risk?
For Sale by Owners…BEWARE
-You put yourself at risk of being sued or liable for misinformation or for non-disclosure on contracts; brokerages and associates would usually be the barrier to the home owner in this case.
-You risk losing thousands of dollars by poor pricing or poor exposure to the market to make your home price languish and get stale. Would you want to buy a stale loaf of bread? Your home is your biggest asset!
-Your real estate associate is trained in negotiating with the greatest benefit to, their client, the seller. They have a fiduciary duty to act in your best interest; with…… maybe the expert buyer. Are you ready to haggle for the value of your home and to keep your equity for your most important asset?
-Would you feel comfortable selling your $400,000 retirement fund, with no expert advice, to a stranger?
Are you showing your own home, who is at risk?
-Who are you inviting into your home? Are they an interested neighbor – using your precious time to “look around”? Are they a stranger who may be scouting out your home? Have you told them when you are and aren’t home? Can they see children live here?
-Is there a security risk to being alone in your home with a stranger to you and your young or elderly family? Is there a risk they may come back when you are NOT at home?
- Real estate associates a you professional real esate asscociate will pre-qualify a buyer to ensure their motive is to buy a home and keep your home safe and secure when it’s for sale.
Who saves the commission? Will you be losing out on income?
-Buyers come in thinking they can save the commission, so they may “low ball “your price.
-Ask a buyer if they expect to pay full commission prices on a FSBO?.
-Are you offering the buyer’s agent 3.5% and 1.5% to come and see your home? If you are paying the same amount to buye’rs agents, are you really saving on the whole sale or just getting a discount for poor exposure and uncertain pricing and a lot of stress?
-Many professional real estate associates will not show their buyer’s a FSBO. It may put their client at risk for a fraudulent sale or other legal issues, undisclosed defects, potential difficulty in negotiating with an emotional sale or having to haggle for or put their full commission at risk. Are you missing out on buyers seeing your home?
-Sellers will have to incur their own cost up front for time and cost of advertising, internet posting, marketing to get the same exposure to the real estate market at their cost when full service brokerage associate commission covers this.
-Sellers will have to lower their initial listing prices to gain attention in the market, then what happens when an offer comes in, will they offer full commission prices then, or will they offer even less?
-Who determines if the listing is competitively priced, too high? =No interest, Too Low? =Risk losing income from the sale? This is you professional real estate associate’s business and goal: to be educated to professional and provincial standards to help you price your home right.
After having read this?
Who comes out on top of a “For Sale by Owner” ( FSBO)?