Why FSBOs Regret Not Using a Real Estate Agent

Photo credit: Unsplash When selling a home, some people opt to list their home as For Sale By Owner and skip using the guidance of a real estate agent to save money on agent commissions. While the idea of cutting costs may be appealing, FSBO sellers often find themselves regretting this decision in the long run. In a recent survey by Clever Real Estate, those who listed with a real estate agent were 50% more likely to say they had no regrets than those who listed their home FSBO. Those who sold without an agent also faced lower sales prices, a longer selling process, and more stress than those who used an agent. In this article, we'll explore the common reasons why FSBOs often regret not enlisting the services of a professional real estate agent.   Pricing: One of the largest drawbacks of FSBO is the challenge of accurately pricing the property. Real estate agents have access to extensive market data and experience that enables them to perform a comparative market analysis to determine the optimal listing price. FSBO sellers, who lack access to such resources and knowledge, are likely to underprice or overprice their homes, resulting in losing money on the sale or extended time on the market. Third party valuations, like Zillow’s Zestimate, are often inaccurate and don’t reflect the full picture of pricing a home at current market value.   Limited Exposure and Marketing: Real estate agents have a broad network of clients and access to multiple listing services (MLS), ensuring your home gets maximum exposure. FSBO sellers, on the other hand, may struggle to reach potential buyers. This limited visibility for FSBO homes can lead to longer listing periods, decreasing the chances of attracting the right buyer at the right price. Getting the highest price on your home also requires an effective marketing strategy. Real estate agents are knowledgeable and skilled in creating captivating listings, high-quality professional photographs, and showcasing what makes your house special to buyers. FSBO sellers may lack this expertise and by failing to show your home in its best light, you may lose out on money on the sale or spend more time on the market.                    Negotiation Skills: Negotiating a real estate deal is a unique skill that real estate agents develop after years of professional experience. In the case of a challenging negotiation, an FSBO seller might feel unprepared and unsure of how to proceed due to a lack of experience. This can lead to lost money on the sale or agreeing on unfavorable terms. Real estate agents are experts at handling negotiations, which will ensure that both parties reach the best possible terms and conditions.             Legal and Contractual Mistakes: Real estate transactions involve complex legal documents and contracts. FSBO sellers risk committing to unfavorable terms and conditions due to being less experienced in the jargon and intricacies of real estate contracts. Real estate agents, however, are experienced in the legal aspects of the home-selling process and will ensure that all documents and contracts are accurate, compliant with regulations, and understood by the seller.   Stress: The process of selling a home takes a lot of time and work, from depersonalizing the home, staging the home,  taking photos, marketing the house, hosting open houses, choosing an offer, negotiating, doing inspections, and more. Without an experienced agent to guide you through this process, taking care of all steps, hiring the best photographers and stagers, developing a marketing plan, and more, this process can take a toll on the sellers. With the help of a real estate agent, selling your home can be a positive experience that you can look back on with no regrets.                  

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New Year, New Home: Resolutions for Homebuyers and Sellers

Photo Credit: Unsplash As many of us are reflecting on the previous year and looking forward to the next with our goals and ambitions in full focus, the new year seems like the perfect time to turn a new leaf. Life brings about change in many ways and a new calendar year marks the beginning of what could be. Whether you’re a first-time homebuyer, looking to combine households, and everything in between, join us as we delve into the resolutions that will pave the way for a successful and fulfilling real estate journey in the coming year.   Homebuyer’s Resolutions: Create your budget. Begin your homebuying journey by taking a close look at your financial situation. Evaluate your monthly income and expenses, and give yourself a general budget for your future home. Begin saving for a down payment. Establish a clear savings goal for your future down payment. Try making a dedicated savings account and calculating what amount works for you to put aside each month. Look for opportunities to increase your savings through additional income or strategic budgeting. Get pre-approved for a mortgage. Navigate the mortgage process with confidence by researching different lenders and gathering necessary financial documents. Then, go to your chosen lender and obtain a pre-approval, giving you a clearer picture of your budget. Create a must-haves and a nice-to-have list. Imagine your dream home and write down what features are must-haves, and which would be nice to have as added amenities. Make sure to take into account your future needs, whether it’s more space for new additions to the family or a neighborhood with a good school district.  Hire a real estate agent. Research and interview potential agents, and make sure they understand your budget, preferences, and timeline for a seamless homebuying experience. When choosing a real estate agent, it is helpful to look at previous client's testimonials to ensure you will have a positive experience.    Sellers Resolutions: Begin preparing your home for sale. Set aside time in the new year to begin enhancing your home's curb appeal and overall presentation. Consider taking on repairing minor issues, repainting, and decluttering to make your property more attractive to potential buyers. Set realistic goals and timelines. Define clear and achievable goals for selling your home, and write down action items you can do to ensure that you reach these goals. Set a general timeline for selling your home, and make sure to leave a little room for unexpected challenges.  Choose your real estate agent. When choosing your agent, start by asking friends, family, and colleagues for recommendations. Personal experiences can provide valuable insights. Use online platforms and reviews to research agents in your desired area. Make sure the agent you choose has extensive local market knowledge and experience.  Declutter and stage your home. With the previous steps completed, you can get your home ready for photos and open houses by beginning to declutter, remove personal touches, and stage the home if needed. 

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Recipe to Make Your Home Smell Amazing for the Holidays

Credit: Unsplash There’s nothing quite like stepping into a home and being enveloped in the comforting scent of the holiday season. Creating an inviting aroma in your home is easier than you may think, and does not require the effort of baking homemade holiday treats. With a few simple ingredients set to simmer on your stove, your house will become a sensory wonderland that beckons with the irresistible scents of the holiday season.   The Recipe:  1 Orange 12oz of frozen or fresh cranberries 2 tbsp of cloves (can be replaced or substituted with Allspice) 1/2 tsp of ground nutmeg 1 tsp of vanilla extract 4 to 6 cinnamon sticks 4 whole star anise 8 cups of water Instructions: Add water to a pot and place on the stovetop Add cranberries to water Slice oranges and add to water Add cinnamon sticks, cloves, nutmeg, and vanilla extract to the water  Simmer on low and leave uncovered Add more water if needed Each batch can last from two to four days. Ensure you turn off the burner when leaving the house or are no longer next to the stove!

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