What can a real estate agent do for you that you can't do on your own if you want to buy or sell a home?
C'mon, it's easy, right?
According to the National Association of Realtors(r)' 1991 Homebuying and Selling Process, 46 percent of For Sale By Owners (FSBO) wanted to avoid paying a commission. So, let's put some perspective on this.
A FSBO doesn't typically have the data of sold properties in their neighborhood to know how to effectively price their home. He may have date of properties that are currently for sale, but those don't give a current market value, only sold homes do. That makes financial sense. Sellers may make a great profit from their home over what they paid for it years ago, but still not realize the amount they could have made simply because market conditions change so much over time.
Buyers think that since they're in the market for a FSBO home, they can negotiate a better price. FSBO home owners have a certain amount of pride in their home, possibly moreso than if they listed with a realtor because they feel they have enough knowledge of selling and buying, that it's possible to offend them with a lowball offer, which could cause them not to want to work with you if you came back with a better offer at another time. A real estate agent can do the negotiating for you, whether you're the buyer or the seller.
If you're the seller, are you willing to sacrifice vacations and weekends to show your home to potential buyers who may cancel at the last minute? Are you able to leave work in the middle of the day to go show your home to buyers who are not able to come by in the evenings? Are you willing to miss a school performance for the buyer? Are you prepared for the mass amount of phone calls at all hours of the day and night and for appointments that may or may not be met?
Seller and buyer, are you able to ask and answer these questions??
Are you sure of the property's legal description?
What kind of title policy will be used?
What escrow company will you use?
How will you pro-rate escrow, taxes, insurance, and interest?
What inspection company will you use?
Will you go with a conventional loan, VA, cash out, or owner carrying the contract?
Who will print out an amortization schedule with a lower interest rate than the current rates?
How do you work together to figure out the possession date?
What if the seller moves and then the sale falls through?
What are the closing costs and who is going to pay for them?
Is the commission to a real estate agent usually part of the closing costs, or is that eliminated or pro-rated in the escrow costs?
Do we need to pay escrow? What in the world is escrow?
Can you write a legally correct ad for the newspaper? There are fair housing laws, and the fair housing groups pay attention to the words in real estate ads. A real estate agent can help you to avoid using words that could cause you to get fined. You are a decent, upstanding citizen who has a fine piece of property with a special ramp that can be used for someone in a wheelchair, but your ad could be illegal if you note that you have a "wheelchair accessible" ramp or "handicap accessible bathroom."
Keep these things in mind as you work out your plan for selling or buying a home this season. Call me if you'd like some help buying or selling!
Connie Suehiro, Agent
Gary Mann Real Estate
305 E. Third
Moses Lake, WA 98837
509-431-5804 (direct)
509-765-3463 (office)
Will have in a few weeks: a country home, five minutes out of town, with almost 3,000 square feet, five bedrooms, 2 bathrooms, some acreage, lined with trees for privacy, and three home entrances: including one with an efficient ramp access, and bathroom with a sturdy, fold-down seat in the shower.
Need: 100 - 1,000 acres for recreational property, including fishing and hunting, with a fixer home to rebuild or remodel, or to build on. Needs to include power andwater. No more than $1,000/acre.
C'mon, it's easy, right?
According to the National Association of Realtors(r)' 1991 Homebuying and Selling Process, 46 percent of For Sale By Owners (FSBO) wanted to avoid paying a commission. So, let's put some perspective on this.
A FSBO doesn't typically have the data of sold properties in their neighborhood to know how to effectively price their home. He may have date of properties that are currently for sale, but those don't give a current market value, only sold homes do. That makes financial sense. Sellers may make a great profit from their home over what they paid for it years ago, but still not realize the amount they could have made simply because market conditions change so much over time.
Buyers think that since they're in the market for a FSBO home, they can negotiate a better price. FSBO home owners have a certain amount of pride in their home, possibly moreso than if they listed with a realtor because they feel they have enough knowledge of selling and buying, that it's possible to offend them with a lowball offer, which could cause them not to want to work with you if you came back with a better offer at another time. A real estate agent can do the negotiating for you, whether you're the buyer or the seller.
If you're the seller, are you willing to sacrifice vacations and weekends to show your home to potential buyers who may cancel at the last minute? Are you able to leave work in the middle of the day to go show your home to buyers who are not able to come by in the evenings? Are you willing to miss a school performance for the buyer? Are you prepared for the mass amount of phone calls at all hours of the day and night and for appointments that may or may not be met?
Seller and buyer, are you able to ask and answer these questions??
Are you sure of the property's legal description?
What kind of title policy will be used?
What escrow company will you use?
How will you pro-rate escrow, taxes, insurance, and interest?
What inspection company will you use?
Will you go with a conventional loan, VA, cash out, or owner carrying the contract?
Who will print out an amortization schedule with a lower interest rate than the current rates?
How do you work together to figure out the possession date?
What if the seller moves and then the sale falls through?
What are the closing costs and who is going to pay for them?
Is the commission to a real estate agent usually part of the closing costs, or is that eliminated or pro-rated in the escrow costs?
Do we need to pay escrow? What in the world is escrow?
Can you write a legally correct ad for the newspaper? There are fair housing laws, and the fair housing groups pay attention to the words in real estate ads. A real estate agent can help you to avoid using words that could cause you to get fined. You are a decent, upstanding citizen who has a fine piece of property with a special ramp that can be used for someone in a wheelchair, but your ad could be illegal if you note that you have a "wheelchair accessible" ramp or "handicap accessible bathroom."
Keep these things in mind as you work out your plan for selling or buying a home this season. Call me if you'd like some help buying or selling!
Connie Suehiro, Agent
Gary Mann Real Estate
305 E. Third
Moses Lake, WA 98837
509-431-5804 (direct)
509-765-3463 (office)
Will have in a few weeks: a country home, five minutes out of town, with almost 3,000 square feet, five bedrooms, 2 bathrooms, some acreage, lined with trees for privacy, and three home entrances: including one with an efficient ramp access, and bathroom with a sturdy, fold-down seat in the shower.
Need: 100 - 1,000 acres for recreational property, including fishing and hunting, with a fixer home to rebuild or remodel, or to build on. Needs to include power andwater. No more than $1,000/acre.
Need: 1,700+ square foot home with three bedrooms, 1 1/2 to 2 bathrooms, with a 2-car garage, and room to park a boat, all well-maintained for less than $200,000.
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