The Deb Ward Team

Is This A Good Market To Sell FSBO

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You’ve been told before that selling your home “for sale by owner” or FSBO is a bad idea in a down market. So now that markets have improved, is it a better time to do so now? No, the same issues exist with FSBO in any market.

The Tampa market has definitely improved

That may mean some people think that it would be a good time to sell their homes themselves. They would be wrong.

The same Is This A Good Market To Sell FSBOreasons that make it a bad idea to sell FSBO in a down market are still the same in a good one. Do you have the time it takes to successfully market your home, hold open houses and make sure Realtors in the area are aware of your home for sale? Probably not.

Another of those reasons is especially important in this area: your listing not being seen by people from out of town. A lot of people looking for homes in this area are looking from out of the area. If they do see it somehow, their Realtor will be more likely to hesitate to work with a homeowner selling themselves.

“Save” the commission

Thinking that you will “save” the commission selling yourself, think again. The statistical reality is that you will get substantially less for the sale of your home.

According to a 2020 NAR Survey, the median selling price for a home sold with the assistance of a Realtor was $295,000 but the median sale for all FSBO homes was $217,000 last year.

So let’s do some math. The average commission is 6%. That means a home selling for the median, $249,000, would mean a commission of $14,940. The difference in the median Realtor assisted sale and the FSBO sale in the best circumstance is $39,000 and under the usual it goes to $97,100. The commission number is substantially lower than the difference in selling prices.

Find a Realtor instead of selling yourself. Your bank account will thank you.

Realtor Funnies | What Those Real Estate Descriptions Really Mean

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Realtor Funnies | What Those Real Estate Descriptions Really MeanIf you’ve ever been on a house hunt you know that those descriptions that Realtors use say one thing but can mean entirely another. It may not seem funny at the time, but later it can seem rather hilarious. Forewarned is forearmed, so knowing about them can save you time and money.

Here is a fun list!!!

What it says:
What it means:

Lots of potential
This home is a total money pit!
Unique urban home
The building used to be an industrial location
One of a kind
Beyond ugly
Must see to believe
You won’t believe how awful it is
Starter home
Needs a ton of work so bid low
Sprawling ranch
Crazy floorplan that probably isn’t “open”
Spacious
Probably smaller than you would like
Charming
Definitely smaller than you want
Cozy
Have you heard of the tiny house movement?
Walking distance to shopping
No parking available so you have to walk
Natural setting
Deer and rabbits will eat your landscaping
Park like setting
You will have a tree, no matter how small
Secluded setting
Don’t count on your GPS actually finding it
Executive neighborhood
Taxes are through the roof
Upper bracket
If you have to ask you can’t afford it
Bright and sunny
 The window coverings are not included
Lots of natural light
 Light bulbs count as “natural”
You won’t believe the size of the closets
Because they are the size of a shoe box!
Original hardwood floors
Probably aren’t salvageable shape
Open floorplan
Doors are optional
Great home office space
 The nook under the stairs is the office space
Needs some TLC
 Run, run far away!
Waterfront location
 The birdbath in the front yard has water in

Obviously not all Realtors subscribe to those descriptions, but it happens! Just remember when house hunting to keep your sense of humor and you’ll be fine!

What Do Most Home Sellers Want Most?

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You have a home to sell, and like most sellers, you want your home to sell fast and for the most money. Seems all Realtors promise that too. So how do you find one who actually will sell your home fast and for the most money?

Sell for the highest dollar

What Do Most Sellers Want MostSelling for the highest dollar seems to be a great idea…until that high dollar deal falls through because the buyer wasn’t vetted and didn’t have access to financing.

A great Realtor won’t promise the highest dollar. They will promise the best price from a qualified buyer. That high bid does you no good without an actual closing to give you the money. However, a lower bid that is within the market value of your home from a qualified buyer with a pre-approved mortgage means a check in hand and money in the bank.

Sell fast

Selling fast is something all buyers want as well. Fast is great, but fast for a price that is under market value isn’t. A great Realtor will take the time it takes to get you the best price. Selling fast means pricing your home correctly and making sure that your home has the needed repairs and upgrades to make it the “must have” property in the neighborhood. Once those are in place the time to sale will be no time at all.

Don’t sell your home short

Sloppy selling won’t get your home sold for the best price. Sloppy selling means that your home sits on the market. The longer it sits, the less money you will make. Choose a Realtor who will honestly tell you what your home needs, how it should be priced and which offer is the best, even if it isn’t the highest.

Where Do Buyers Come From? Hint, Hint…Think Realtors

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You are considering selling your home, and you aren’t sure if you should sell with a Realtor or by yourself. Which will bring you more buyers? Think Realtors.

Some interesting things

Where Do Buyers Come From? Hint, Hint...Think RealtorsThe Association of Real Estate License Law Officials estimates that there are about 3 million active real estate agents in the US. In 2017 there were 106,548 brokerage firms.

So what are they doing? Well, the American Housing Survey said that in 2018 there was approximately 119.7 million occupied housing units. The typical home seller has been in their home for 10 years. They typical home size is 1,900 square feet and the typical homeowner is 47 years old in 202o as of the National Association of REALTORS® (NAR) Of the sold homes in 2020 were 5.64 million existing homes and 822,000 newly constructed.

Realtors

The NAR has as of July 2021 1,534,008 members,  68% percent of Realtors are licensed as sales agents, and 20% of members specialize in residential brokerage. The median number of years of experience is 8 years. Most Realtors work a 35 hour work week and have some college education, or a degree.

Message? Most are hardworking and educated past high school to some extent. They generally pay attention to technology as well. The top three technology tools that most use or plan on using are an iPad, smart phone and digital camera. 91% use social media to some extent and the top sites for Realtors to place listings are realtor.com®, Zillow and Trulia.

Interesting results

Obviously, hiring a Realtor means that you will have a qualified person helping with your home sale, but how much of a help will they be? Well, the NAR showed that 88% of buyers purchased their home through a Realtor – a share that has steadily increased from 69% in 2001.

The average sales price for an agent based sale was $295,000. For sale by owner (FSBO) sales were 8% of home sales in 2020 and the average sale price was $217,900. That’s a difference of $77,100! They also don’t have the assistance of a professional who understands the process and paperwork.

The Deb Ward Team

Keller Williams Realty
30522 U.S. Highway 19 N, #107
Palm Harbor, FL 34684
Phone: 727-410-0336
Fax: 727-474-9069
Email: info@DeborahWard.com
The Deb Ward Team at Keller Williams Realty specializes in all of Pinellas County, Florida including: Clearwater, Palm Harbor, Dunedin, St. Petersburg, and the Gulf Beaches from Clearwater Beach down to St. Pete Beach serving buyers and sellers with a focus that is rarely found in the real estate world!