For Sale by Owner v. Using a REALTOR®

home for sale

People are getting smarter and technology is getting better.  This certainly makes way for consumers to begin wanting to do things on their own and skip the middleman (or REALTOR® in our case).  The main reason most want to try to sell their home on their own is because they do not want to pay the commission to an agent.  Here are some points as to why that should not be a deciding factor in how you decide to list your home:

  1. You usually end up paying a real estate agent anyway.  These days, it is hard to find a buyer that is not already working with a real estate agent.  Typically, in order to get the buyers in the door-you have to be willing to work with real estate agents.
  2. Don’t you want your home to get the most visibility?  Selling your home on your own only gives you the chance to put it on free sites and maybe social media if you’re on that.  At NextHome, we have the capability to list a home on hundreds of sites so the home gets the most visibility, not to mention the MLS (multiple listing service) that all agents use to put homes on the market.  It is the first place agents go to find homes directly for their clients.
  3. How do you know what price to put on your home?  Part of a real estate agent’s job is to complete an analysis and look at several different numbers and factors that go into pricing your home (not just what Zillow tells you).  If you overprice your home, you won’t have any buyers and will get stuck with your home just sitting on the market.  If you under-price your home, you are cheating yourself out of money.
  4. Real estate agents know what buyers are looking for.  Usually, if the agent is working with a home seller, they are also working with home buyers.  This gives you as a seller an advantage when it comes to staging, photos, descriptions, and so much more!
  5. The paperwork in real estate is outrageous!  Doing it on your own or even going up against a buyer’s agent on your own is not ideal.  Having an agent along the way to explain and work on your behalf is just the beginning on how smooth and easy they should make the transaction and selling process go.
  6. Most people think listing the house on their own will save them time.  Actually it is quite the opposite in most cases.  Everything is going to be done by the agent when you are working with one.  If you are on your own-that is just it-it’s only you.  Even if you hire someone such as an attorney to help you with paperwork or a photographer for your photos-it all is then on their time and you are waiting on them to complete their part before you can even begin with the next step.
  7. Selling the home quick is always the goal, right? Well, on average selling a home on your own as FSBO (for sale by owner) takes 19 days longer than if it were listed with an agent.
  8. According to NAR, if a typical FSBO home sells for $200,000, while a typical home sold by an agent sells for $265,500. That adds up to homes sold by agents getting an average of 23% more than FSBO sales. This shows the difference that a REALTOR® can make in many areas in how to sell your home (not just pricing strategies).
  9. According to NAR, over a third of people who listed FSBO ended up using a real estate agent anyway.
  10. YOU get to choose your agent.  They each are unique and offer different things as a part of what they charge as their commission.  It is just part of it!  Why do something on your own when a real estate agent has to go through so much training and licensing to do what they do?  That should speak to the importance of hiring a REALTOR®.

Ready to sell your home yet?  Check out our selling page for information on the process.

Contact one of our licensed REALTORS® to help you get started!

2020 Real Estate Forecast

photo of graph

With a new year comes new real estate predictions!  From the National Association of REALTORS®, here is a list of expectations from the industry:

  • 30-Year Fixed Mortgage Average Rate:  3.8%
  • 15-Year Fixed Mortgage Average Rate:  3.1%
  • The Largest Homebuying Group:  25-34 year olds
  • 4% Increase in the Amount of New and Existing Home Sales is Expected, from 6 million in 2019 to 6.3 million in 2020

Give us a call today to see where we can take your home buying/selling journey! 502.223.3553

NAR website.

Staging Tips for the Home Seller

interior of a modern home

Selling can be overwhelming. You’re packing everything up, trying to make the house look pristine when all around you is what feels like chaos. Since buyers want that great first impression, you know it’s important to declutter—often that means cleaning until your home looks like it’s never been lived in. And while you’re rushing around, trying to find a new place for your items, it may seem like an impossible task.

Take a breather—it’s actually easier than you think. Here are four staging tips that are so easy they may not have even crossed your mind:

Decorate for the potential buyer. You know who this is because you were once this person! If you’re in a starter home neighborhood, the buyer will likely be a younger individual or couple who is looking for more space after cramped apartment living. Pick some trendy paint colors like lilac gray or muted pastels and keep the decor minimalistic and modern. Forget decorating a kid’s bedroom and opt for an office layout in the second bedroom instead.

If you’re looking to downsize from a, say, four-bedroom house on a cul-de-sac, you’re probably going to attract the family crowd. Emphasize your space by decorating according to their needs. Have a finished basement? Amp up the recreational feel with some movie theater loungers or make it a game room!

Think about your neighborhood as well. If you’re in walking distance to a dog park, you may find that your buyer has a furry roommate. If your home is near a highly-rated school, that’s also an indicator that kids may come with the package for whoever owns your home next.

Use resources. You don’t have to take on this process all by yourself. Rent a storage unit so you don’t have to worry about hiding away your must-keeps. This way, these items are already neatly packed away and ready for your new home, and they won’t get in the way of a buyer who isn’t looking to see how bad your shopping addiction is.

Additionally, hire a cleaning company. You can find some relatively affordable options, and this will help you stay stress-free throughout the process. Once it’s clean, all you have to worry about is keeping it that way!

Focus on the small accessories. Take a tour of your own home, but with fresh eyes. What do you see that stands out as grungy, old and just a complete turn-off? This can be anything from a sticky, splattered garbage bin that needs a good cleaning to your shower curtain which has a dense layer of soap scum that’s going to scare even the bravest buyers away. Replace any small accessories that won’t cost you a fortune, and clean anything that can look like new with some TLC.

Use your nose. Again, take a tour of your home, but this time focus on what you’re smelling. A better option might be to find a friend or family member who can volunteer to do this for you—someone who doesn’t live with you or isn’t over all the time. Identify the sources of odor in your home and figure out a solution. The last thing you want is for a buyer to come in and quickly be hit by an unpleasant smell.

The cleaning and decluttering should help with this, but there are other things you can do to ensure your home is a breath of fresh air:

  • Open up the windows! Let your home air out for an hour or two.
  • Light some candles to freshen up the rooms.
  • Bake a cake or some cookies right before a potential buyer comes over.

Staging can be easy if you just put yourself in the buyer’s shoes. It is, however, more than just moving around furniture and putting away the excess items. Think back to the tour you took yourself before buying this home. What stood out to you—both good and bad? Think about how it all impacts the senses. Of course, trends change, but the overall feeling of clean and tidy is always the first thing people notice. And customizing your home with some easy staging tricks can make a big difference!

This article was written by Liz Dominguez and published by RIS Media July 2019

Need more tips for selling your home? Head on over to our page just for sellers!

Holiday Open House

snowman

To show our appreciation for friends, family, members of the community, and current and past clients we are opening our office doors for everyone to enjoy a joyful holiday event.  Don’t miss our Holiday Open House on December 17th from 5 pm to 7 pm.  This is a perfect time to jingle and mingle with friends and neighbors in our community, so come one-come all!  There will be food and fun for everyone.  We just ask that you please RSVP as soon as possible and by December 10th so we will have enough food and goodies for everyone to enjoy.

RSVP at 502.223.3553 or at office.nexthome@gmail.com with the number people coming!

Location: 1801 Louisville Road, Frankfort KY

Time: 5 pm to 7 pm

What NOT to Do When Selling Your Home…

I found a great article from RIS Media that I felt the need to share with you.  If you are or are planning on selling your home, you should absorb all of the information thrown your way.  The information is short, sweet and to the point!  Here’s a snapshot of what it’s getting at and […]

The post What NOT to Do When Selling Your Home… appeared first on Cassidy R. Smith.