For Sale By Owner

Thinking About Selling Your Home Yourself?

frequently asked questions

I don't want to pay an agent's commission. Won't I net more money if I sell my home alone?
It would appear that way. But according to statistics, the median selling price of a home sold by owner was 15.4% less than agent-assisted transactions*. That means in most cases, using an agent pays for itself, and sellers still receive more money than if they had done all the work! So typically with an agent, you net more money and free yourself from all the time demands, paper, aggravation, details and legalities involved throughout the process. You have a life....enjoy it!

Why do some agents have lower commission rates than others?
First, it is unreasonable to expect that a low rate agent will provide you with the same amount of time and marketing as a full service agent. It is expensive to advertise and very time consuming to do all of the things I do. In my business, time really is money!

Second, it is important to remember that most homes are sold by the cooperative efforts of other agents through use of the Multiple Listing Service. In most cases, when you agree to pay a commission of, say, 6%, you also agree that the two brokers involved in the sale of the property may split the commission. Agents working with buyers use the MLS system to find homes to show. On each "listing" is shown the "split" or the percentage they will earn if they bring the buyer to you. They often see rates from less than 2% to as much as 5%. Although it might be unprofessional, it is human nature for those agents to either consciously or subconsciously favor the homes offering the highest splits. There is little doubt that using a low rate professional significantly reduces either the chances of another agent showing your home or the amount of marketing they will do for you.

If I listed with you, how would you advertise my property?
I don't just list homes. I market them. I will make sure your home is marketed to potential buyers around the clock 24 hours a day, 7 days a week. As part of my 14-step marketing plan, I will implement a marketing plan to reach buyers most likely to purchase your home. I combine the power of the Internet and innovative new methods like Podcasting and 24/7 info lines, while also using traditional methods including newspaper ads, brochures, yard signs and direct mail.

Are there things we should do to our home to help get the maximum price?
Yes. There is a benefit to making sure your home looks its best prior to offering it for sale. There are also small remodeling jobs that will pay off at resale. Even if you choose to sell your home without assistance, I would still be happy to advise you about specific improvements that will increase your home's marketability and value.

What if another agent tells us they can get us more for the house?
Some agents will quote a higher listing price just to get your business, but an overpriced house will not sell. If you choose to work with me, I will conduct a comparative market analysis and take into consideration the most recent market trend prior to recommending an asking price for your home. I will explain how I arrived at the price, but ultimately the decision is up to you. I can only offer my professional opinion on how the market will value your home.

If I worked with you, would I have any responsibilities during the marketing of my home?
Your primary job during the sale of your home will be to keep it neat and clean for showings and open houses. A large part of a home's appeal involves staging, which is everything from furniture placement to home fragrance. I will advise you on how to stage your home well, giving you easy tips and quick fixes to maximize your home's appeal. Other than that, I will handle all of the advertising and marketing, screening of prospective buyers, offer evaluations, negotiation of terms of sale and management of your closing.

Will you be present at all showings?
At open houses I, or a member of my office, will be there. For showings, the potential buyers will bring their own agents to see your home. Most buyers prefer only their own agents be present when evaluating a prospective new home. In fact, many buyers feel intimidated, rushed or uncomfortable when the owner is present. That's tough to avoid as a For Sale By Owner. Your goal is the sale of your property. You want to do everything possible to make it happen!

What happens once we get an offer?
I will help you evaluate the offer and negotiate the best deal for you. Once you've accepted an offer, I will guide you through the entire closing process and ensure everything proceeds smoothly.

So, what's it going to cost me?
First of all, it won't cost you anything until you sell the house. Think about that for a moment. We pay for the newspaper ads in multiple publications, two Multiple Listing Services, the enhanced Internet presence on multiple websites, the flyers, the mailings, the magazines, even appearing at community events, all of the things we do to market your home before you spend a penny! Plus, think about the time factor. We put in many more hours than you might imagine throughout the process....hours that you no longer need to put in yourself. The brokerage fee you pay from the money the buyer gives you at the closing is often split between two brokerage agencies and the agents receive only a portion of their respective broker's fees.

*Source: The 2004 National Association of REALTORS® Profile of Home Buyers and Sellers