7 Tips for Chehalis / Centralia Home Sellers: Tip #7 FSBO/Expireds

By
Real Estate Agent with Realty World Cosser & Associates, Inc. Lic. #113974
7 Tips for Chehalis / Centralia Home Sellers: 
 
Tip #7 FSBO/Expireds 
 
 
Good morning and welcome to the final tip of 7 Tips for Chehalis/Centralia area Home Sellers. I’m Eren Millam Realtor of Realty World Cosser & Associates and I hope you’re having an extraordinary day! Last week we covered setting expectations for extraordinary communication from your agent. We’ve got a lot to cover today, so let’s get started!
 
The #1 reason why sellers try to sell their home without a realtor, is the cost savings. This could be 10’s of thousands of dollars or more on a single home. That is a big PRO!
 
The #2 reason stems from a distrust of realtors, in that sellers believe they can market their own home just as well, if not better than, an agent. Why pay realtor fees when you can do it yourself?
 
Let me be clear, real estate agents have EARNED their reputation.
Let me also be clear, not every agent is created equal!
 
I have seen many For Sale By Owners who have done better jobs at marketing than Realtors. Many agents have forgotten that we are in a marketing and service industry and they have given the rest of us a bad name.
 
Now, let’s address the concerns of For Sale by Owner properties:
 
#1 Saving on Realtor Fees
 
Only 2% of FSBOs sell to someone they DON’T know. If you have someone lined up for your house, there’s a good chance you’ll be able to sell your home. If not, there’s a 98% chance you won’t sell.
On top of that, studies have shown that homes listed by Realtors, sell for more on average than homes sold by the owner. My personal experience bears this truth. I average 11% greater sales price for my clients than when they tried to For Sale By Owner. Now, I don’t charge anywhere close to 11% commission so while the seller did pay a Realtor commission, they netted more money in their pocket by using me rather than doing it alone.
 
Also, during the transaction, I was able to guide them through the process and save them money by negotiating on their behalf when it came to inspections and repairs.
 
#2 Marketing Your Home
 
In a previous lesson, I discussed a little bit of what I do to market homes. However, there are not many agents that market the same way I do. It’s no wonder so many people are disappointed when their home expires from the market. When I go on listing appointments of expired homes, sellers are flabberghasted by the difference because they’ve never even heard the type of marketing language I use by any other realtor. 
 
A new set of buyers hits the market on average, about every 3 weeks. This is one of the reasons why a Realtor will ask for a price drop every few weeks if the home hasn’t sold. But, what have they done to market it? Most sellers seem to have this question, yet few ask it. Many agents will “set it and forget it” and hope for another Realtor to bring them a buyer. With me, you will know what I’m doing, when I will ask for a price reduction, and how much we should reduce it based on how the market reacts to it.
 
The final reason why a seller chooses not to work with a Realtor is because they’ve had a bad experience in the past. There is nothing I can say to change that experience. It may seem like a lot of work to weed through all the different agents and their promises, but it will save you money, time, and stress if you make the right selection. Here’s some questions to ask to assist you in selecting the right agent for you:
 
What sets you apart from other agents?
 
How is your marketing different than other agents?
 
How often will I be hearing from you?
 
What happens if I’m not satisfied at any point in the contract?
 
What’s your opinion of open houses?
 
 
These are just a few questions to get you started. If you hear anything that is too generic or “we’re all the same, pick who you get along with more” type answers, those should be red flags. You’re hiring someone to sell your product, they should be adept marketing and service professionals! I hope you’ve enjoyed this series and if there’s anything you take away from it, let it be this: Don’t settle for anything less than Extraordinary! 

Comments (1)

Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Eren Millam , Real Estate agents need to stay on their toes, when it comes to their competition.

Oct 01, 2016 03:49 AM