For Sale By Owner Advice--When Do I Know it Is Time to Hire A Professional?
Agents should see FSBO properties as an opportunity: you’ve just identified a property owner who wants to sell his home. All you have to do is convince the wary seller to list their home with you instead of going it alone. Need some advice on how to make that happen? Doug Rogers has several good ideas you can use to convince FSBO sellers that they’d be better off with you.
These days every penny counts. As the father of four daughters I certainly understand the need to save a buck. Owners who try to sell without representation have my support. If it works out, then good for you.
But what if the home lingers? How does an owner decide enough is enough, I'm calling in the professionals! Let's examine what a professional agency can do for your situation:
1) Security-- This is often overlooked. Most "buyers" will find a FSBO from the signs. You would be surprised what sort of people will show up on your door step. Some of them even want to buy a house. Are you prepared to speak with the person on the other end of the peep hole?
2) Thick Skin-- Let's face it, getting a home loan if FAR more difficult today than a few years back. Are you prepared to ask tough financial questions to a stranger? Or even worse, a family member? Over time, agents learn how to ask qualifying questions without being abrasive or pushy. Frankly such wisdom comes from trial and error.
3) Insurance-- How certain are you that the home is 1523 heated square feet? With bay windows, home additions (can I count the garage conversion as square feet), and crazy curves measurement can be difficult. Keep in mind your home is probably worth 80-100 bucks a square foot. What if you are off by 40 feet? Are you prepared to bring an extra 3,200 dollars to the table? Agents have insurance for such mistakes. Do you?
4) We Know What Works-- Agents are similar to sea gulls. Before human expansion sea gulls would comb the shore looking for small fish or crabs. Today sea gulls have learned to follow humans for the best goodies. They adapted to changes in their environment. Likewise, agents understand that what sold a home in 2003 probably won't work in 2012.
5) We Are Not Emotionally Invested In Your Transaction-- Emotion works great in the movies. The passionate speech keeps the innocent person off death row, tears reunite a couple facing divorce. In real life emotion gets in the way. Your family may have 100,000 dollars riding on a negotiation. Enough money to make or break the family budget. Still think you can keep a straight face?
6) You Sell potatoes to individuals, Agents sell potatoes to McDonald's-- As a FSBO, you are marketing to individuals purchasing a home. Agents market to other agents. Most agents have 3-5 active buyers each, some have more! This means FAR more APPROVED buyers will see your home.
Give the For Sale By Owner process a try. After all there may be a ready, willing, and able buyer for your home. But if days turn into weeks, it's time to consider professional representation. Call me direct at (318) 613-1994 for a private consultation. As always, search the Cenla MLS for free at www.LouisianaHouseHunter.com
Doug Rogers
Broker/Owner
Bayou Properties Realty
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