For Sale By Owner Pitfalls

For Sale By Owner Pitfalls

by Amy Dginguerian.

 

Some homeowners may consider trying to sell their home on without the assistance of a real estate professional, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.

Here are five of our reasons

1. 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 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
• Your bank in the case of a short sale

2. Exposure to Prospective Purchasers
Recent studies have shown that 92% of buyers search online for a home. That is in comparison to only 28% looking at print newspaper ads. Most real estate agents have an extensive internet strategy to promote the sale of your home. Do you?
3. Actual Results also come from the Internet
Where do buyers find the home they actually purchased?
• 43% on the internet
• 9% 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.

4. FSBOing has Become More and 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 9% over the last 20+ years.

5. You Net More Money when Using an Agent
Many homeowners believe that they will 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 commission. The seller and buyer can’t both save the same commission.

Studies have shown that the typical house sold by the homeowner sells for $184,000 while the typical house sold by an agent sells for $230,000. This doesn’t mean that an agent can get $46,000 more for your home as studies have shown that people are more likely to FSBO in markets with lower price points. However, it does show that selling on your own might not make sense.

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.



Kim Suwa

HEAD OF PROPERTY MANAGEMENT

Kim has served in many positions with our company and works diligently to answer any questions that you may have. Her proficient and vast set of skills is unique in that she is highly qualified in all areas of Leasing and Property Management. Kim gracefully manages all the accounting staff and functions, including coordinating rental tax, owner disbursements, move out accounting, trust account reconciliation, human resources and oversees all lease renewals for Amy Home Sales and Clear Property Management to ensure that our occupancy rate is maintained at the highest level.

Kim has an incomparable ability to solve problems and is meticulous about maintaining perfection. Should you ever have a question about anything, please let her know.

Anne Trear

BUYER'S AGENT

CalDRE: #02096043

626.428.0656
anne.trear@theagencyre.com

Anne Trear brings a passion for real estate and commitment to her clients to The Agency Pasadena, teaming up with Amy Weber as a buyer’s agent. She focuses on creatively finding solutions for her clients, embracing the opportunity to meet and develop relationships with a wide range of people, all while helping them make one of the most important decisions of their lives; she feels fortunate to get to be a part of such a monumental moment. She thrives in the exciting, fast-paced environment of real estate, where everyday is engaging and different.

Anne’s experience as a bartender and trail guide at an equestrian center have given her the opportunity to work with people from all walks of life, each bringing their own passions, emotions, and personalities to the table. She leverages this insight in her real estate career, always seeking to fully understand her clients–their desires, dreams, and needs—so she can best serve them. Enthusiastic, and motivated, Anne values honesty and integrity; her work ethic and hustle speak to her dedication to making sure her clients are completely taken care of every step of the way.

When she’s not serving her clients, she spends her time volunteering at The Union Rescue Mission and exploring her community.

Amy Weber

DIRECTOR OF RESIDENTIAL SALES

CalDRE: #01946366

818.568.4243
amy.weber@theagencyre.com

Amy Weber brings The Agency a wealth of real estate experience and a keen competitive drive. After finding success investing in properties herself, Amy gained extensive knowledge of the industry before becoming an agent. She is an accredited home stager, broker associate and E-Pro Real Estate Agent as well as a Certified Real Estate specialist (CRS), a Buyer’s Real Estate Specialist (BRS), a Senior Real Estate pro (SRES) and Certified Probate Real Estate Specialist (CPRES).

A former actress, talent agency owner and veteran of the WWE, Amy is no stranger to the rigors of competition. She is a tireless champion for her clients and understands the importance of standing out in a crowded field. To help attract potential buyers to her properties, Amy calls upon her highly skilled network of photographers and drone video operators, who work to put each home in its best light. Amy has received numerous acknowledgements from past clients praising her polished performance and talent for closing deals. She currently specializes in the Pasadena, Altadena, La Canada, La Crescenta and Montrose neighborhoods.

In her free time, Amy loves cooking, reading, volunteering with the ASPCA and spending time with her twins, Madison and Levi.

DESIGNATIONS AND CERTIFICATES:
  • Broker Associate
  • Certified Probate Real Estate Professional
  • Senior Real Estate Specialist (SRES)
  • Accredited Buyer’s Representative (ABR®)
  • Video Marketing
  • Client Negotiations