Do You Need a Real Estate Agent?

3 Reasons You’ll Be Glad You Didn’t FSBO!

FSBO SignEver since the DIY fad took off, amateurs everywhere have attempted almost anything all on their own. It isn’t shocking that a few homeowners are wondering, “Do I really need a real estate agent to help sell my home when I can try to sell it myself?”

Sadly, you will see many DIY fails on projects that are way less complex than selling a home. While it may seem amusing when a soufflé falls you won’t be much laughter when FSBO errors cost you thousands of dollars and months of time.

Selling your home is your real estate agent’s job! Attempting to sell your home by yourself is difficult when you’ve got your own job.

Are you equipped to answer all phone calls and questions from buyers? Can you always arrange showings and keep your home pristine? Are you knowledgeable enough to evaluate offers, make counter offers, and negotiate all on your own behalf? Can you do all the above while keeping up with the demands of your regular work day?

The must do list of an FSBO seller is demanding and endless. Fortunately, a real estate agent’s regular work day consists of taking care of that list for you. While you’re tied up with work and prepping to move, your agent is busy working to coordinate with buyer’s agents and negotiating the best offer for your home.

Knowledgeable real estate agents devote countless hours to marketing, networking, and actively selling their listings. A frequent misunderstanding is thinking that a real estate agent just puts up a for sale sign and everything is done. FSBO sellers don’t understand that you’ve got to get prepare the home, market it, and much more.

Successful real estate agents will financially invest in marketing your home and will make sure that your home shows marvelously. They do this by paying for various things such as professional photography and quality staging. The amount of time and work it requires to sell a home FSBO is exactly why not many even try.

Now, let’s get down to the basics as to why utilizing a real estate agent is the logical choice.

#1 – A real estate agent is essential for prepping your house for sale.

RE AgentYou might take a glance at your home and feel that it’s in outstanding condition, but homes that are sold as-is will receive as-is offers, despite how excellent their condition is.

Real estate agents know that making modest investments in home improvements can increase the value of your home by 35%. Regrettably, some FSBO sellers will invest funds on upgrades that will not increase the home’s value enough to cover the money they have spent on those upgrades.

Just like each home is unique, so is each real estate market. Even if all the research you have accomplished is telling you that certain upgrades are guaranteed to increase your home’s value, that may not be true for your area.

A knowledgeable, experienced, and local real estate agent that has plenty of active listings will know what improvements or upgrades are going to be worth your investment to help your home sell.

#2 – A real estate agent will help you set the right listing price.

Listing PriceExperienced real estate agents know that listing a home at the right price is one of their most important tasks. If the price is set too high buyers will not come look at the home, which obviously means they won’t make any offers. If you lower the price too soon or too often, buyers and their agents will assume there may be something wrong with the home and only submit lowball offers, or no offers at all.

Regrettably, some FSBO sellers still believe that they will know how to price their home without assistance. Some sellers feel that they know the value of their home, but most often an FSBO home is priced incorrectly and as a result they get an even lower offer when it finally does sell.

Your real estate agent will examine numerous details to find your correct listing price, for example: regional and local market trends, nearby comps, days on market, upgrades, plus seller concessions (closing costs, home warranties, credits for repairs, etc.).

#3 – A real estate agent is your go-between.

FSBO sellers frequently feel hopeful enough to make improvements and listing price decisions without a real estate agent’s support. They often mistakenly think that pricing and prepping are the roughest part. Then they may pay a listing service to put their home on the MLS, believing that’s all they need to do to get their home sold.

ContractBut there are numerous more things that need to occur. Without a real estate agent, you won’t have anyone to advise you through the process. When you list your home with a real estate agent, they will be your go-between through the entire home sale process.

Your real estate agent will negotiate the sale and renegotiate after the inspection and appraisal occur. They will be working to find concessions that won’t cut into your bottom line.

Having a real estate agent to be your go-between isn’t just essential during the closing process, but you will need that buffer as soon as your home is listed. If you don’t have a real estate agent, then you won’t have anyone to arrange showings or even put a lockbox on your home. Rather, you will have to be present at every showing and you’ll won’t have any way to evaluate those buyers.

Are you as an FSBO seller willing to just open your home and let anyone who calls you walk through? That is one of the many reasons why you need a real estate agent. They provide privacy, protection, and facilitation of the transaction for a stress-free closing.

Buyer’s agents realize that FSBO sellers are emotionally involved in the selling process. When a FSBO seller plays hardball during the negotiation process, they may be labeled as a difficult seller who is not willing to be flexible and thus end up walking away from the deal.

When you list with a real estate agent, you will have them as a buffer between you and the buyer and you can prevent any emotional negotiation disagreements.

Are you still wanting to DIY with being a FSBO seller? Now at least you are aware the risks. But the bottom line is if you desire a uneventful sale that will bring you the best profit then you definitely need to hire a local and knowledgeable real estate agent.

BROKER KENNY SIDES RECEIVES E-PRO® CERTIFICATION

Kenny Sides

Jean Groesbeck & Assoc. LLC broker Kenneth Sides has received his e-PRO® certification from the National Association of REALTORS®. e-PRO® certified real estate brokers apply advanced technologies and social media marketing techniques to business plans to better assist clients by increasing reach and trust with clients.

“Team Groesbeck proudly believes in continuing our education so we can assist our clients as best as possible with all of their real estate needs,” said Jean Groesbeck, Managing Broker of Jean Groesbeck & Assoc. LLC, Licensed under Coldwell Banker Bain. “As members of the National Association of REALTORS®, we value the importance of its role in our industry and take pride in Kenneth and our team’s involvement within the organization.”

The National Association of REALTORS® provides a facility for professional development, research and exchange of information among its members and to the public and government for the purpose of preserving the free enterprise system and the right to own real property.

With more than 25 years in the real estate business, Sides has prior experience as a builder, developer and real estate investor. A specialized buyer’s broker, Sides provides individualized attention to each client to assist with their buying process and ensures each transaction is implemented seamlessly. Contact Kenny directly via email at Kenny@JeanGroesbeck.com. or (360) 982-3400

Common Mistakes to Avoid When Purchasing a Home

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When buying a new home it is easy to overlook pertinent information or important steps in the purchase of your new home. The agents at Jean Groesbeck & Assoc. LLC in Anacortes are here to assist you in making decisions for a smooth home purchase!

Here are 5 common mistakes that are made by home buyers:

Making an offer on a home before prequalification – Being prequalified will make the buying process much easier when making an offer on the home of your dreams. Take the time to speak with a lender before you jump into an offer. Specific questions a lender will ask in regards to income, debt and lifestyle will help determine the price range you are able to afford. It is best to talk with several lenders to ensure you are applying for the loan that is right for you.

Not having a home inspection – Making the mistake of not having your dream home inspected before finalizing the sale may cost you tomorrow. Qualified home inspections will detect issues that many buyers can overlook, especially when it is your first home. Ask your real estate agent for a referral if you are unsure of who to turn to for a proper home inspection.

Limiting your search to the internet – When searching for your dream home on the internet, many times homes have been sold or are under contract and the home listing information has not yet been updated. The best way to view active listings and up to date information is through a real estate agent. Real estate agents will have the most recent information and will help you find the home that suits you best. There can also be home listings that are not available to the general public.  A local real estate agent is the best source to finding your dream home!

Choosing the wrong real estate agent – Making the right connection with a real estate agent is crucial. It is important to interview different agents to make sure you are hiring an agent that puts your needs before, during and after the sale. Building a strong relationship with your real estate agent will make the process of buying a home easier for you and if they know what your needs and wants are, they will strive to fulfill them.

Thinking there is only one dream home out there for you – The process of buying a home is process of elimination, not selection. The market is growing daily, make sure to keep an open mind to new property listings throughout the buying process. Be sure to ask your real estate agent for a comparative market analysis (CMA) comparing recently sold homes or homes still on the market to the home you are interested in purchasing. Keep in mind that every home might have a slight flaw and might not match up to your needs and want list.  Compromise is key – you may need to adjust your list to ensure you have you needs met instead of all of your wants.

It is important to not make these most common mistakes when you feel you are ready to make an offer on your dream home in Anacortes or Skagit County. We are committed to serving you, we are here to answer any questions or concerns you may have when making an offer on a home! Contact us today at Jean@JeanGroesbeck.com or (360) 941-3734.