Selling Your Home
Information and tips on selling your home
Are you considering
selling your home? Well, if you've done much research, I'm sure you
know that times are changing. You HAVE choices.
For Sale By Owner
has always been an option
for someone selling their home. There are various reasons that a
homeowner may try this option. Perhaps they have no equity in their
home and cannot afford representation, are in a market (unlike the Charlotte area) where going
FSBO is occassionally successful, or simply think that they can do it just
as good as a Realtor. This may be a homeowner's only option but
they should know that there are many details involved with selling
a home. There are the costs of signs and other materials, the costs
of marketing, the prequalification of prospective buyers, understanding
and interpreting contracts, arranging "showings", keeping
up with important dates, frequent communication with the other party,
negotiations and how to handle them, understanding your rights in
regards to home inspections, knowledge of reputable contractors
and attorneys, etc. A good Realtor earns their commission and if
possible, a homeowner should consider hiring one.
Limited Service Brokers
are becoming more
common. They are not all exactly the same but generally speaking,
a limited service broker offers to put your home on the Multiple
Listing Service (MLS) for a small upfront fee such as $395 - $795
and from there you essentially act as a "for sale by owner" and are on your own.
Often, a condition may be that you agree to compensate a buyer agent
if they bring the buyer. The agent may or may not take pictures,
provide a yard sign, etc. Often, they act in an a la carte manner.
This can, indeed, save you a little money...if
it works. Keep in mind that you are already agreeing to pay 3% (standard
commission to a buyer agent) so the only money you would be saving
is the typical 3% (due to the listing company upon closing, if
it the home closes) minus the upfront, non-refundable
fee that you have already paid...and there is no guarantee that
your home will even sell. Remember, because you are acting
as a for sale by owner, you will have no representation on your
end. Because of this, the buyer agent usually has to work harder
and take on more responsibility to make sure that things are on
the right track for BOTH sides of the transaction. That means more
work to the buyer agent for the same commission. Because a "limited
service listing" must be noted as such in the MLS, a buyer
agent may want to avoid your listing and show other homes for sale
first. In my opinion, the most important thing to know is that simply
putting a home on the MLS just doesn't cut it. The MLS is not a
magical, "sure thing" for getting a home sold. It is simply
a database of homes for sale in our particular market. And, there
is a difference between simply placing the bare facts of a home
on the MLS and placing it on there with care and diligence while
paying special attention to pictures, description, characteristics,
etc.
Full Service Brokers
typically give you
more exposure. They may put your home on the MLS, take one or more
pictures, place yard/directional signs where appropriate, provide
flyers or inside brochures, more and better internet exposure, provide a lockbox,
schedule appointments for showings, newspaper advertising, magazine
ads, or a combination of things, and will provide you with representation.
Many full service companies charge a full 6% commission (3% to buyer
agent and 3% on the listing side).
At Hendrix Properties, we give all of our listings FULL service. If you are contemplating selling your Charlotte, North Carolina area home and want to experience what top-notch, full service is all about, contact us. We truly want what is best for you.
Articles worth reading:
Home pricing and preparation
10 Ways to Make Your House Sell More Easily
5 Ways to Speed Up Your Sale
Moving Tips for Sellers
