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Doug Best asks you to carefully read the following, you'll be glad you did. If you have comments regarding this article Doug Best would be happy to hear from you. Please have the nerve to leave your name and email otherwise your comments are unwarranted.
Doug has often said For Sale By Owner or F.S.B.O. for short, stands for False Savings Buyer's Optimistic. The following remarks are not intended to dissuade you from attempting to sell your own home, but rather to place the process in a realistic perspective. These comments apply whether you are selling your own home or an investment property. In the end, you will have to balance the benefits and disadvantages of course, and decide what is best for you.
Doug Best would like to expose The REAL truths about selling privately:
Myth
Vs.
Fact
Question 1: Why should I pay commission when I can sell it myself?
The fact is, you CAN sell your home yourself just as you can represent yourself in court, pull your own teeth, or diagnose yourself of a sickness. This may sound harsh but ask yourself, would you ever consider hiring discount services for any of those professional services? Then why would you ever consider selling privately when making one of the most important investment decisions of your life?
Reality is, professional real estate has been around since the late 1800's and the reason for that is a Realtor î is an INVESTMENT- NOT an expense. Let me Explain:
It is not uncommon for the prospective purchaser to determine what the fair market value is and then ask to have an additional discount equal to the real estate fee you are trying to save yourself. If you as a seller are wanting to save a fee and a buyer is shopping privately to save a fee (which is why buyers shop privately) how do you save anything? Both buyer and seller cannot save the same fee! As a Realtorî, Doug will bring you serious-qualified buyers who are ready, willing and able to purchase a home at FAIR MARKET VALUE. Doug's buyers are enlisting his services to find them the right home and represent them in the offer proceedings and informing them on the legal aspects of the transaction. Think of a garage sale- The only reason people shop there is to get a deal. People willing to pay fair prices go to a professional store. That way they get warranties and representation. The same criteria offered by Doug Best.
Right now in Edmonton 85% of the homes on the market are listed through a Realtorî. If Professional Realtor'sî have 85% of the homes on the market, it tells us a few things:
1) 85% of the population agree enlisting the services of a Realtorî is a smart investment.
2) Being that 85% of the homes are listed with a Realtorî, where do the serious buyers want to shop? Answer- where the majority of the product is.
3) What is left over for a private seller is the bargain hunters and casual lookers.
That being said, do you know when you are giving away your motivations, reasons and potentially the amount you are willing to except for your home to a potential buyer? Sometimes it's through your body language alone!
Doug knows that 3rd party intervention is crucial in maximizing your profits when selling! There is no emotional attachment.
Do you see how Doug Best is an INVESTMENT not a cost?
Question 2: I can get the same amount of money for my home as a Realtorî can?
Statistically owners lose 3-5% more by selling their home directly to a buyer than by investing in a Realtorî. Here's why:
1) THE OWNER ACCEPTS LESS
a. Direct buyers are usually bargain hunters looking for desperate sellers.
b. A 2003 National Association of Realtor's Home Sellers Survey exposed the average sale of a For Sale By Owner was 18% less than a Realtorî assisted sale.
c. Generally, serious buyers are willing to pay fair market value for the convenience and security of dealing with a Realtorî
d. Any lack of market knowledge could cost you much more than any fee involved.
Anytime anyone buys something where a salesperson is involved they expect to pay fair prices.
Anytime anyone buys something directly from an owner they expect to pay less. Wouldn't you agree?
2) YOU PAY FOR ALL YOUR ADVERTISING
a. It's quite easy to spend 1% of the value of a home in advertising.
3) IT TAKES OWNERS LONGER TO GET A SALE
a. The result is extra taxes
b. Extra insurance
c. Extra utilities
d. Extra interest
e. Lost opportunity time
f. What is your time worth to you?
4) THE OWNER OFTEN PAYS EXTRA LAWYER FEES
a. When sold through real estate-a lawyer checks our work
b. When sold privately the lawyer has to do more work and you get billed accordingly.
c. You may be putting yourself in an unnecessary costly legal position
90% of all direct buyers are not qualified to buy the homes they look at.
Here's why:
If buyers are serious and intend to buy directly from sellers, the first thing they do is qualify themselves.
If they figure they can afford a $250,000 house, they don't look at $250,000 houses. They look at $260, $280 and $300,000 houses.
Remember they are out to find a bargain or at least save a fee. They go through the house and size up the home seller if they find you have just started selling and are not willing to move on your price they won't make an offer. If they think you are desperate or motivated they will make an offer for 10 or 20% less than fair market value because this is all they can afford. Therefore, they are wasting your time.
Do you see how the odds are stacked against you?
Question 3: Is my security when selling privately really a concern or is that a scare tactic?
Do you work a full or part time job? Do you have children? If you didn't have a For Sale by Owner sign on your lawn would you ever consider letting a complete stranger in your home to look around? These are all things you MUST consider when selling your home.
If someone came to your door at 10 a.m. and said they were being transferred from another city and had to look today to make a decision, will you show them the house? Were you home or did you miss a potential buyer?
If you say yes: Do you want to be exposed to that danger? How do you know their actual intent?
If you say no: How do you know they weren't a serious buyer?
Do you see how Doug Best can eliminate any danger and still expose your home to serious prospects?
The truth of the matter is these aren't scare tactics and in today's day and age should be taken quite seriously especially for families with young children. Can you really put a price on your family safety? Any private sale company suggesting these are scare tactics, definitely do not have a true concern about your well being. Doug could show you many articles relating to Realtor'sî male and female who have become victims of malicious crimes while on the job here in our own City and Province. We as Realtor'sî are reminded frequently of the importance of our own safety while doing our duties.
Does this sound like a scare tactic to you?
Question 4: I can expose my home to as many buyers as a Realtorî?
Did you know only 4% of the buyers in any given market place are actually ready, willing and able to purchase a home? The rest are either casual lookers, bargain hunters who can't actually afford to buy or people that have frozen equity in a home that isn't sold yet. Right now there are over 3000 Real Estate agents registered at the Edmonton Real Estate Board. On average each Realtorî is working with 3-5 qualified buyers. That represents to you anywhere from 9000-15000 QUALIFIED buyers at any given time looking for property. Can you afford to miss out on those odds? Those numbers are worth much more than any fee you feel you would be paying when it comes to netting out positively on your home sale! It's all about exposure and the more exposure you give your home the greater the opportunity you have to net more money! The MLS statistics tells us for the YTD 2006, over 18000 homes have sold via Realtor'sî. These statistics are fact as governed by Alberta and not made up numbers to try and pull the wool over the consumer's eye. Doug Best uses the MLS, Virtual Tours, Lawn Signs, Multiple websites, Local Papers, After hours pagers, Mall Displays, listing feedback, sale guarantees and so much more to expose your home and provide you with proper service. You need these things to maximize your home sale. Expose your home through Doug Best. Believe it and you'll profit!
Do you have the wherewithal to accomplish the aforementioned?
Don't be fooled by private companies looking to profit from your hard earned investment. They give no incentive that your home will sell nor are they licensed Realtor'sî or governed by the Real Estate Council of Alberta.
For TRUE advice and service, honesty and integrity, contact Doug Best when selling.
***If you would like testimonials from people who have experienced the pitfalls of selling privately. Feel free to make a request.
If you are wanting to sell your home or wish to contact Doug for advice, please fill out the form below and he will contact you as soon as possible.
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