Why Selling Your House on Your Own in 2021 Is a Mistake

Why Selling Your House on Your Own in 2021 Is a Mistake

 

There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner (FSBO), it’s critical to consider the following items.

1. Your Safety Is a Priority

Your safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours, real estate professionals are equipped to follow the latest industry standards recommended by the National Association of Realtors (NAR) to help protect you and your potential buyers.

2. A Powerful Online Strategy Is a Must to Attract a Buyer

Recent studies from NAR have shown that, even before COVID-19, the first step 43% of all buyers took when looking for a home was to search online. Throughout the process, that number jumps to 97%. Today, those numbers have grown exponentially. Most real estate agents have developed a strong Internet and social media strategy to promote the sale of your house.

3. There Are Too Many Negotiations

Here are just a few of the people you’ll need to negotiate with if you decide to FSBO:

  • The buyer, who wants the best deal possible
  • The buyer’s agent, who solely represents the best interest of the buyer
  • The inspection company, which works for the buyer and will almost always find challenges with the house
  • The appraiser, if there is a question of value

As part of their training, agents are taught how to negotiate every aspect of the real estate transaction and how to mediate the emotions felt by buyers looking to make what is probably the largest purchase of their lives.

4. You Won’t Know if Your Purchaser Is Qualified for a Mortgage

Having a buyer who wants to purchase your house is the first step. Making sure they can afford to buy it is just as important. As a FSBO, it’s almost impossible to be involved in the mortgage process of your buyer. A real estate professional is trained to ask the appropriate questions and, in most cases, will be intimately aware of the progress being made toward a purchaser’s mortgage commitment. You need someone who’s working with lenders every day to guarantee your buyer makes it to the closing table.

5. FSBOing Is Becoming More Difficult from a Legal Standpoint

The documentation involved in the selling process is growing dramatically as more and more disclosures and regulations become mandatory. In an increasingly litigious society, the agent acts as a third-party to help the seller avoid legal jeopardy. This is one of the major reasons why the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

6. You Net More Money When Using an Agent

Many homeowners think they’ll save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save on the commission.

study by Collateral Analytics revealed that FSBOs don’t actually save anything by forgoing the help of an agent. In some cases, the seller may even net less money from the sale. The study found the difference in price between a FSBO and an agent-listed home was an average of 6%. One of the main reasons for the price difference is effective exposure:

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

The more buyers that view a home, the greater the chance a bidding war will take place, potentially driving the price higher, too.

Bottom Line

Listing on your own leaves you to manage the entire transaction by yourself. Why do that when you can hire an agent and still net the same amount of money? Before you decide to take on the challenge of selling your house alone, let’s connect to discuss your options.

Contact our Real Estate Professionals!

See our list of available properties!

More Generations Are Living Under One Roof This Year

More Generations Are Living Under One Roof This Year

 

This year challenged us to reprioritize everything – from the way we use our time to where we work, how we socialize and gather together, and our needs at home. For many, this also meant making decisions about how to best support and engage with our extended families, near and far.

In some cases, we weren’t able to see our relatives and loved ones who were living in senior facilities. In others, maybe older children moved back home. Jessica Lautz, Vice President of Demographics and Behavioral Insights for the National Association of Realtors (NAR), says:

A lot of families have an aging senior relative who was living independently or in senior care and wanted to move them into their home.

These changes led to more homebuyers to invest in multi-generational homes to accommodate more long-term plans. A multi-generational home, according to the 2020 Profile of Home Buyers and Sellers from NAR, is a home that has adult siblings, adult children over the age of 18, parents, and/or grandparents in the household.

A recent study from NAR shows that since the health crisis began, there’s been an increase in purchasing trends for homes that cater to this dynamic:

“Buyers who purchased after March were more likely to purchase a multi-generational home at 15% compared to 11% who purchased before April.”

There are many reasons for this uptick in preference toward multi-generational homes. The graph below shows the top two reasons and how they’ve increased this year:More Generations Are Living under One Roof This Year | MyKCM

Bottom Line

More homeowners are making arrangements to accommodate their loved ones so they can safely take care of them at home. If you’re in a similar situation, let’s connect to discuss your options in our local area and maybe even have your whole family under one roof!

See our Complete Property List to find your perfect home!

Contact us today to work with one of Our Agents!

Congrats to Pamela Zachowski For Reaching the Cap!

Congrats to Pamela Zachowski For Reaching the Cap!

Congratulations From Geoffrey Green, President Of Green Team Realty, To Pamela Zachowski for reaching the commission CAP for Company Dollar Contribution in 2020!

Geoff’s thoughts on Pamela hitting CAP:

Geoff Green President of Green Team Realty“I am very, very excited, and proud to write on behalf of Pam for reaching the cap because this will be the first of many for her.  Pam has worked very hard to get to this level of production and she has done it while being true to herself.  Being a great spouse and Mom, Pam has always kept the big picture in mind.  Always keeping balance in mind, Pam has broken through into a high level of production and I am sure she will be there year in and year out.  Big congrats Pam!  We are very honored to have you as part of the Green Team New Jersey Agency.”

 

Pamela’s dedication to her clients and hard work has allowed her to reach the cap on her commission with Green Team Realty. This is an outstanding accomplishment and means Pamela will now receive a 100% commission split on any deal she closes during 2020.

 

Pamela’s thoughts on hitting the cap:

“I am so grateful to all my client for helping me make this goal, it has been years in the making and I have finally done it! Besides my clients helping me achieve this goal it is the constant training and support I received from Green Team that made this happen!  Thank you all!”

 

Green Team Realty’s commission structure is, no doubt, one of the finest in the industry, but it doesn’t end there.  Our lead generation platform, certified sales assistant program, and dynamic training systems are just a few other things worth mentioning. 

 

To learn more about Green Team Realty and why you should join our team click here.

 

Congratulations, Pamela!

Congrats to Terry Gavan For Reaching the Cap!

Congrats to Terry Gavan For Reaching the Cap!

Congratulations From Geoffrey Green, President Of Green Team Realty, To Terry Gavan for reaching the commission cap for Company Dollar Contribution in 2020!

Geoff’s thoughts about agent hitting CAP:

Geoff Green President of Green Team Realty“I have admired Terry Gavan for many, many years.  This is a formidable Real Estate Broker who has been at the top of the production charts, started and ran her own very successful Brokerage and now has climbed to the top of the production charts once again as a Green Teamer.  We are extremely blessed to call Terry one of our own and it’s extremely gratifying for me to have been a part of her climb back to the top.  I have no doubt that she will continue to be a perennial top producer in our marketplace for many years to come.”

 

Terry Gavan’s dedication to her clients and hard work has allowed her to reach the cap on her commission with Green Team Realty. This is an outstanding accomplishment and means Terry will now receive a 100% commission split on any deal she closes during 2020.

Terry’s thoughts on hitting the cap:

“The year 2020 was a year like no other –  both in the real estate industry and in life for most people.   So much disruption, change and upheaval in our everyday lives and routines.   It was a very good feeling to be able to be out there enduring all the necessary precautions and adjustments we all had to maintain and yet to be able to help sellers and buyers make the moves forward that they desired during this historic time.  For many buyers, it was a life changing and very positive and productive move for their families.  Being a key instrumental part of that process  was so very meaningful to me as a Realtor as it was for so many others.   I am always grateful for the opportunity to share my long-standing experience and knowledge of the Hudson Valley.    Most importantly, the year 2020 was vivid proof of the ethics, professionalism, character, strength and resilience of so many Realtors.   I feel blessed in the knowledge that I have “capped out”  in 2020 and also to be a part of such a superb group of professionals for so many years

Geoff Green has been a hard working, judicious and prudent leader in the field since he founded The Green Team.   His limitless support, innovative management style and elaborate training methods are all part of the attributes that  highly motivate all of the agents working at The Green Team.   And this Company truly works as a Team.

Geoff Green is all about guiding and educating salespeople to become the best that they can be.   His focus and drive is about providing consistent strategic leadership and being ahead of the curve with technical training and skills.

The CAP Program is just another example of the support and ingenuity of The  Green Team.”

 

Green Team Realty’s commission structure is, no doubt, one of the finest in the industry, but it doesn’t end there.  Our lead generation platform, certified sales assistant program, and dynamic training systems are just a few other things worth mentioning.

 

To learn more about Green Team Realty and why you should join our team click here.

 

Congratulations, TERRY!

Why It’s Important to Price Your House Right Today

Why It’s Important to Price Your House Right Today

 

Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes:

“We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the year.”

How to Price Your House

When it comes to setting the right price for your house, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.

As a seller in today’s market, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase. But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers.

Right now, even when there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running if it isn’t priced just right from the very beginning.Why It’s Important to Price Your House Right Today | MyKCM

It’s important to make sure your house is priced correctly by working with a trusted real estate professional throughout the process. When you price it competitively from the start, you won’t be negotiating with one buyer. Instead, you’ll likely have multiple buyers competing for the house, potentially increasing the final sale price.

The key is to make sure your house is priced to sell immediately. This way, it will be seen by the greatest number of buyers. More than one of them may be interested, and it will be more likely to sell at a competitive price.

Bottom Line

Let’s connect to price your house correctly from the start so you can maximize your exposure and your return.

See our listing of available properties!

Contact one of our Professional Agents Today!

1 2 3 31