I am a Home Inspector now, but when I took a real estate course in Greensboro NC, the instructor made his feelings about FSBO's quite clear. His disdain was palpable. Though many sellers are tempted to try to market their homes themselves in order to avoid paying a Realtor's commission, eventually they would be driven by sheer desperation to acknowledge the futility of their mission, and call a Realtor.
The Lonely FSBO
Since then I have watched many a FSBO linger on the market way too long, especially at this time, only to eventually capitulate and call in the calvary.
And there are many good reasons to do so. Not the least of which is that if you get a good Realtor they are going to make sure your house gets seen, priced correctly and point out a number of things that are obvious to everyone except the homeowner, like gee, you should clean up the three feet of garbage in your living room, etc.
No doubt, a good Realtor can get a house seen and sold, if the buyer listens to their wisdom.
But whether a homeowner chooses to avail themselves of the services of a Realtor or not, one thing remains true about selling a house....
AVERAGE HOUSES DON'T SELL QUICKLY ! (especially in a buyer's market !)
A house that sells faster than its competition must STAND OUT (in a positive way) from its competition.
And a homeowner can make his/her home STAND OUT any number of ways, with or without a Realtor.
CURB APPEAL is an obvious one. First impressions are often the only impression one gets to make. So if your house looks bad from the street, it will be hard to overcome that initial bad impression.
CHEAP PRICE: Can attract, but can also make people suspicious. What are they not disclosing ?
UPDATED KITCHEN AND BATH: Likely one of the best places to upgrade. Get a second opinion though regarding design. Pink fixtures in the bathroom won't appeal to everyone.
All these things, and more, are basic, common sense things that should be considered when making your home stand out.
FACTORS OUT OF YOUR CONTROL : BUYER'S APPREHENSION..... (actually, you can do something about this one, read on....)
One thing that is hardly EVER considered is the apprehension that all buyers carry with them when they consider purchasing a house they may be paying on for the next 30 years, and all the unknown costs an older house (well really, any house) can bring.
ENTER THE BUYER'S INSPECTOR (gosh, I hope he doesn't find anything. I'd hate to lose this contract !)
Most buyers are going to hire a professional home inspector to verify the soundness of any home before they commit.
And what will the buyer's inspector find ? It could be major, but it also could be a long list of minor things, like a lock that needs to be replaced, some nails backing out of the shingles, a loose brick on the porch, lights that don't work, etc........you know, the things you no longer even notice.
Even if all the inspector finds are minor things, things that could have easily been fixed ahead of time if the seller had been aware of them, the cumulative effect of numerous small items may be disproportionate to their actual seriousness. In other words, it often looks worse than it really is. But the perception that this may be a money pit is planted in the mind of the buyer.
SWEATING BEADS....
Here is where the seller begins to sweat. The buyer wants all these little things fixed before closing. Now the seller must find someone, anyone, on short notice to come and take care of all this piddly stuff, or take a week off work and do it himself, if he/she is handy. The other alternative is to adjust the price. Either way, the cost ends up being much greater than if the homeowner had taken this check-list and done it all at his leisure BEFORE he ever had a contract in his/her hands. ( No time now to shop contractors..just pay what they are asking !)
OK, WHAT'S THE ALTERNATIVE ?
Homeowners who choose to list a property can avoid all this hassle, whether they are a FSBO or listing with a Realtor. There is a much saner way to go about this, and save money in the long run, perhaps thousands.
This is where the LISTING ADVANTAGE* comes in.
The Listing Advantage is a PRE-LISTING INSPECTION in combination with a 'NO DENIED CLAIM'S' home warranty.
"But wait", you say, " It's the buyer's responsibility to pay for an inspection ! "
Ok, we just went over what happens in that scenario. What part of the concept of SELF-SABOTAGE don't you understand ?
ANOTHER PERSPECTIVE...
Let's look at it from the buyer's point of view, even pretend we were the buyer. The buyer thinks:
"Ok, there are two equally attractive houses in a particular neighborhood that meet my needs. One, I will have to shell out cash to find out if it has problems. Maybe the AC will break in the middle of Summer, perhaps it has termites or Radon, or a rotten floor under the toilet.....Who knows ?
" Now, on the other hand, this house has a sign that clearly states that it has been Inspected AND Warranted. And I can see the report and all the items that were found and fixed ( or I can see they have acknowledged these problems and adjusted the price accordingly. Hmmm. Which one do I choose ? Which house feels like a better bet, with less potential surprises ?"
OK, YEAH....I GET IT. I'M GETTING A PRE-LISTING INSPECTION WITH A 'NO DENIED CLAIMS' WARRANTY
Now back the the homeowner. Wise sellers will understand the benefits of hiring their OWN inspector BEFORE putting the house on the market.
With the laundry list of items in hand from a pre-listing inspection, the homeowner may choose to fix these items (if they are minor ) or to adjust the price upfront ( if they are major) and avoid last minute surprises, repairs, re-negotiations, and or completely losing the sale.
WISDOM FROM THE FAR EAST - ( Well, California is really faaaaaar East )
The wisdom of pre-listing inspections is already common knowledge in California. And, like many trends, will get to the East Coast eventually.
YOU NEED EVERY ADVANTAGE...
FSBO's need every distinctive advantage they can get. The Listing Advantage from Advantage Inspection can give them that something extra, and it may even help them to sell their home WITHOUT paying a Realtor's commission.
But even if you have your home listed with an agency, you still need every bit of help to make your home the one that STANDS OUT in a Buyer's market.
Every day not sold is costing you and your Realtor $$$.
If your Realtor doesn't understand the importance or power of a pre-listing inspection, don't let them discourage you from it.
DOING STUFF THE SAME OLD WAY, BUT HOPING THINGS GET BETTER....( you know the story)
Some close friends of mine here in Greensboro mentioned this to their Realtor ( one used to doing business the same old way)and she said they did'nt need to do it. As of today, April 30th,2008, their house has sat on the market for over 4 months without one offer. I'd say that Realtor needs to bring it on if she has any better ideas.
In fact, they may wait the month and 1/2 till the listing period is up and then utilize the power of the Listing Advantage and keep the commission.
We have tracked this program and found that on average, homes sell 15% faster, for 2.2% more and the odds of selling AT ALL increase by 29% !
ROOKIE REALTOR GOES FROM #120 TO TOP 5 IN HIS OFFICE ( That's right. He's using the Listing Advantge)
In fact, one Keller Williams Agent from Greenville SC ( Matthew Thrift), has LISTED AND SOLD 12 homes in the first 2.5 months of 2008 ! And he was a Rookie of only 15 months with no prior sales before he found our program. Read his testimony here.
Call Advantage Inspection Clear View today and ask us how we can help sell your FSBO or listed home.
( You don't even have to pay for the 'No Denied Claim's' home warranty until closing ! Hooray !)
Philip LaMachio Advantage Inspection Clear View 336-327-5523 Member: NACHI, NCLHIA
EXCLUSIVE DISCOUNTS AND COUPONS FROM OUR VENDOR PARTNERS FOR OUR CUSTOMERS:
10% Discount for Lowes Home Improvement ( Fix up that home with this one ! )
$200 Credit for ADT Home Security Installation !
Up to 20% discount on Homeowners Insurance from Nationwide Insurance ( upon passing safety checklist at inspection)
Discounts for Allied and North American Van Lines ( More details to come.)