Sell Your Cary Home Yourself

Sell Your Cary Home Yourself

Sell your Cary home yourself or hire a REALTOR? We have resources to assist you. Contact Kathy today at 919-210-2709.  In today’s Cary real estate market, with home prices on the move, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are five things to consider when trying to sell your own home:

1-Exposure to Prospective Buyers

Past studies have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2-Results Come from the Internet

Where did buyers find the home they actually purchased?

• 49% on the internet
• 31% from a Real Estate Agent
• 7% from a yard sign
• 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

3-There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

• The buyer who wants the best deal possible.
• The buyer’s agent who solely represents the best interest of the buyer.
• The buyer’s attorney (in some parts of the country).
• The home inspection companies, which work for the buyer and will almost always find some problems with the house.
• The appraiser if there is a question of value.

4-Selling Your Own Home has Become More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5-You Net More Money When Selling Your home with Kathy Lynch as your Agent

Many homeowners believe that they will save the real estate commission by attempting to sell their own home. 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 the commission. A study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases, may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is:

“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.”

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year. Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more? We have a wealth of resources for selling your home.

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Here are the top 5 reasons not to sell your own home:

1. Online Strategy for Prospective Purchasers

Studies have shown that 93% of buyers search online for a home. That’s a pretty staggering number! Kathy has  a marketing and Internet strategy to promote the sale of your home. Do you know what it takes to sell your own home?

2. Results Come from the Internet

According to NAR, here’s where buyers found the homes they actually purchased:

• 55% on the Internet
• 28% from a Real Estate Agent
• 10% Other
• 6% from a Yard Sign
• 1% from Newspapers

The days of selling your house by putting up a sign in your yard or placing an ad in the paper are long gone. Having a strong Internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here’s a list of some of the people with whom you must be prepared to negotiate 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 buyer’s attorney (in some parts of the country)
• The home inspection companies, which work for the buyer and will almost always find some problems with the house
• The appraiser, if there is a question of value

4. FSBOing Has Become Increasingly Difficult

The paperwork involved in when selling you own home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

5. You Net More Money When Using an Agent

Many homeowners believe they’ll save the real estate commission by selling on their own, but the seller and buyer can’t both save the commission.

A report by Zillow revealed that FSBOs are inclined to do so because they believe it will save money (46 percent cite this among their top three reasons), but they don’t actually save anything, and eventually end up listing with an agent.

The same report revealed that,

“While 36% of sellers that (at first) attempted to sell their homes on their own, only 11 percent of sellers—in other words, less than a third…actually sold without an agent.”
It appears working with a real estate professional is the best answer.

Before you decide to sell your Cary home by yourself, realech out to us to learn how we can assist you. If you’re looking to sell your home without help of a Real Estate Agent, please reach out to me at (919) 210-2709. We can provide you with a free home value report so you can get an idea of what your home is worth.  We have an abundance of Free tools that can help you. We might even be able to bring you a buyer!