This morning I opened my facebook to do my usual “breakfast update”, this is a routine that I do when I am getting my day going and I look at the “hot sheet” on our MLS and in the FSBO (For Sale by Owner) pages on Facebook. I saw a title that stated “Forget the hassle of dealing with a realtor.” It went on to say “the house is being sold through an estate, and will save you thousands in closing costs”. At first, I was a bit ticked…. Hassle? ME? The agent? Ohhhh, why I otta… And THEN I remembered what kind of market we are in and instead asked myself why it is that this “seller” would have said such a thing. First reason is that maybe he’s had a bad experience with an agent before and hear me when I say that some people will simply NEVER be satisfied, but if your agent failed you in the past we, as attentive and caring agents, apologize on their behalf. The most common reason that an agent falls short of their role in a transaction is lack of experience. Lucky for us we have combined experience of over 30 years!!
On that note, let’s just get through a few reasons as to why it is actually important to hire an agent and a FEW examples of things we do to reduce the “hassle” of selling your own home or purchasing one without us. This list goes on and on and on. So this will do for now. Of course we would love to chat with anyone on any further things we do, if you may be in need of some more convincing.
There are several Myths floating around the atmosphere such as “it will save you money” “anyone can sell their own home” “agents don’t actually do anything anyways” “you can find your own home on Zillow” “a title company can do all of it” and my absolute favorite “Realtors make way too much money”.
Let’s start with the statement this FSBO had suggested that he will somehow save you “thousands of dollars in closing costs”. The term closing costs is sometimes vague and broad. Closing costs is simply defined as a cost to close on your real estate. As a buyer you have closing costs to factor such as appraisal and origination fees and loan processing fees. These costs, although the differ in every scenario, are unavoidable. Even when paying cash the closing escrow fees are going to need to be negotiated. Who pays the title company? Who pays to record the dang thing? Who pays for the tax services? What is an appropriate proration? Even for things like THE PROPANE THAT IS LEFT IN THE PROPANE TANK? Ya, that’s a thing.
Once upon a time in the market I started my career in I would have said that it is VERY difficult to sell your own home. Buyers were scarce and the market was flooded with competition. In that kind of market you need your home to be marketed and presented to the absolute best and to the most buyers that we can possibly get it in front of. Our current market climate is more a sellers market and it is actually true that you can and will sell your home yourself with even just one picture of the toilet seat up (little inside realtor joke). Houses sold by owner sell for a bit less than we make on commissions. Meaning they could have let us do what we do and still made more money at the closing table. So the answer is yes, but just how much money will you leave on the table and at what cost on your time?
IF you have a good realtor or real estate team like Legends we have mastered all the aspects of a real estate transaction. Meaning from front to back. When selling your home we will take professional photos, set up digital tours (because… COVID and the “implant” buyer pool) and make your digital listing almost as appealing as seeing the real deal in person. After the listing goes live is the BEST part. This feedback is the most common and real that we get from a FSBO client that we turn into believers. We VET your buyers before they even get a chance to enter the property. So, you won’t have to spend any of your time wasted on buyers that are curious lookylous or with buyers that are dreamers but not actually qualified to purchase it. We will coordinate all showings and right now, let me tell you, it’s a zoo! On average our brand new listings get shown somewhere between 12-16 times in the first 2 days on market. We have this down to a science now. Imagine trying to keep track and remember who was showing your home at what time and for how long? Then add attempting to get feedback from those agents or updating them when you get offers. In addition, we know ALL the red tape and warning signs in an offer. We know what offer is best for you and why. It’s not just the highest purchase price that is always the best option. Analyzing 12+ offers on your home is no joke. It is daunting and a lot to be considered. We know what is fair when negotiating repairs on an inspection and what may hold up financing regulations on an appraisal. We also have a system that keeps everyone involved, on track to close. We always say that our goal is to get everyone to the closing table with smiles on their faces. Emotions are HIGH during the purchase and sale of most people’s LARGEST investment of their lifetime. It may have emotional ties like a legacy or a divorce or a bankruptcy or an illness. Negotiations and even simple communications can be held by us as your representative and sometimes unbeknownst to you altogether. Even something as simple as the fridge is included but WHICH FRIDGE IS INCLUDED? The old used one in the garage that may or may not work or the brand new MAYTAG that the seller just loaded up and took to their new house. Yaaaaaa, that’s a thing.
As a buyer, you don’t know what you don’t know. Even if this isn’t your first rodeo, you don’t know what you can’t remember. We do this all day, every day. Sometimes in our sleep. Just my morning routine is an advantage that my clients have against anyone that is going it alone. Us Legends, live and breathe real estate. Meaning there is almost never a time that we walk into a room and don’t talk about it. We keep our ears open and our eyes peeled to find you the best home that is out there. Oftentimes it isn’t even readily out there YET…… but we will find it. The agents on our team have been called a few things like “relentless” “a bull dog” “sleepless” “masters” “magicians” because sometimes it takes a little magic and sometimes it takes a little pushing. We aren’t scared of stepping over boundaries if it means getting our clients what they need. We negotiate very well, even in a sellers market. We find out what is most important to your seller and prepare your offer to match that while still keeping your goals in mind. We ask a lot of questions and prioritize your answers!
When you are looking to find the best agent for you, start by asking people you know who their realtor was. Ask how the experience went and if they have a recommendation. Even finding reviews on our websites and on other sites such as redfin and upnest will give you some good insite. There are A LOT of fish in our sea but trust me when I say we are NOT all created equal.