Our knee-jerk reaction is to tell you—just don’t, but that’s because there are numerous reasons why representing yourself in a real estate transaction isn’t the best decision you could make. Each real estate transaction has its own set of nuances because each transaction is comprised with different individuals with their own diverse and wonderful set of needs and circumstances coming into play. For now, let’s focus on understanding why For-Sale-By-Owner sales (or FSBOs) are a DON’T.
“Girl…you just want to get paid.”
1. We knew you’d get straight to the bottom line and you’re completely right to. We’re working women—of course, we want to get paid for our labor and expertise. But you should also want to get paid the most for one of your largest investments. Most FSBO sellers miss out on a bigger payout when they go solo. The reasons why are largely due to their lack of market knowledge, advertising budget, and negotiation strategy. Understanding how to price a home is not the same as knowing its value; a key point overlooked by many homeowners who put their home on the market. A good REALTOR® team is worth every cent of your return.
Pre-marketing strategy isn’t a gimmick—it’s essential to our plan.
2. The majority of homeowners don’t know about the pre-market tasks they need to pursue before their property hits the open market. These tasks include de-cluttering, painting, upfront repairs, advertising scheduling, disclosure preparation, etc. We provide each homeowner with literal homework to accomplish before the first potential buyer sets foot into their home. We are also doing homework of our own by defining who that potential buyer is and where we might find them. Our pre-marketing strategy is as much about making sure your home makes a good first impression as it is about making sure your home is getting in front of the right people.
It’s who you know AND what you know.
3. San Diego is an amazing place to live our best life, attracting new residents from not only across the United States but also from around the globe. Our collective network has allowed us to promote our clients’ homes to potential buyers no matter where they live. Establishing working relationships and with out-of-area real estate agents and unique advertising partnerships create a larger pool of credible and well-suited buyers who would otherwise be out of reach for homeowners. Our local knowledge helps buyers better understand their lifestyle potential and become excited to turn a house into a home.
Do you work seven days a week? We do.
4. Unless you’re retired or independently wealthy, chances are you don’t have the time to take on a second full-time job. Selling real estate is a full-time enterprise with the end goal of getting you the most money possible in the least amount of market time. In order to accomplish that, a comprehensive schedule comprised of advertising, networking, open houses, caravans, and elbow grease is required for a successful sale. These bigger tasks are on top of screening regular communications with inquiring buyers, agents, and spam. If you didn’t like sales calls before, you’ll definitely not like them once anyone gets wind of you selling your home. Yes, you can get lucky finding the right buyer on day one, but why take that risk when you can hire a professional to make sure you’re still not sold on day 365?
Once in escrow, there will be a slew of appointments and deadlines that will need to be managed in order to adhere to your legal agreements and track to close. Managing the detailed escrow process as a lone homeowner can escalate stress, emotions, and ultimately get in the way of what could have been a successful sale.
We’re a little like good cop, bad cop…
5. As seasoned real estate agents, we are well versed in both parties’ contractual obligations and contingencies. While these are often “outs” for the buyer side, understanding how these contract procedures come into play during escrow is key to keeping the transaction together and making sure your interests are protected each step of the way. This protection is something a dedicated real estate agent is prepared to offer each of their clients. Sellers have their own set of obligations due to the buyer. Failing to satisfy those obligations in full can put you at legal risk on top of losing the sale. FSBOs are also challenged by the unforeseen hiccups that can arise during an escrow. While experience has given us, real estate agents, the insight to know when to be a team player and when it’s time to put on the pressure; FSBOs risk reacting too prematurely as well as too late during sensitive escrow periods.
“Unless commitment is made, there are only promises and hopes; but no plans.” ― Peter F. Drucker
Every seller has a unique set of reasons why they are selling their home. But all sellers deserve two things: the biggest net gain with the littlest headache, and to know their interests are being protected.
The Altmann | Ayala Realty Team works with sellers and buyers alike with the mission to provide knowledgeable and transparent real estate service at every price point. To speak with Cassandra or Luisa, contact them at 858.216.2700 or AltmannAyalaTeam@gmail.com.