Some homeowners consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). We think there are several reasons this might not be a good idea for the vast majority of sellers.
Ever wonder why you using a Lake Tahoe Realtor is strongly advised over handling the sale of your property yourself? If you hear a Realtor in Lake Tahoe say it, you would likely assume it is because they want your listing and therefore your money. However, a majority of the time, they actually have your best interest at heart. In fact, here are a few reasons you should use a qualified South Lake Tahoe Realtor.
In South Lake Tahoe real estate, there are plenty of people you will need to negotiate with. There is the buyer who has a goal of getting the most bang for their buck. You have their agent who is working in the sole interest of the buyer and potentially the buyer’s attorney if applicable. Then there will be the home inspector who is also working with the buyer’s interest in mind. If the appraiser’s value doesn’t match your selling price, that will be another set of negotiations. You may even have to deal with the bank if your home is a short sale. If you simply think that you will only be negotiating with a buyer, it goes far and beyond that. In fact, for sale by owner has become much more difficult compared to years past. In the last 20 something years, folks selling their homes independently have dropped from 19% to 9%. And it is no wonder; the amount of paperwork alone has increased. This is due to mandatory regulations and disclosures. A missing piece of paperwork could change the deal against your favor. These contracts are used to protect both parties financial interest. It is advisable to go with someone who knows these papers like the back of their hand.
When you just put a sign in your yard, you are not getting the exposure a property needs to sell quickly. When you work with a South Lake Tahoe realtor, your listing goes into a local MLS. This means agents working with buyers will see your property as soon as it hits the market. MLS’s then feed out to an IDX, which displays the results on a variety of websites including Zillow, Realtor.com, Trulia, Redfin as well as local South Lake Tahoe Realtor’s websites. Roughly 92% of buyers search on the internet for South Lake Tahoe real estate for sale. A strong internet presence and marketing plan is absolutely crucial. Since so few folks are looking for real estate via print ads and for sale signs, you will want to know all the spots that prospective buyers of South Lake Tahoe homes for sale are looking. This is something you will spend a lot of time researching and it still may not be successful. Your best bet is letting a professional do it from the start.
One of the driving goals behind doing a FSBO is that the seller thinks they can save money. While they can save a little bit on the seller’s side, the buyer’s agent still gets their commission. Considering that FSBO properties typically sell for less than a home for sale in Lake Tahoe (some studies suggest by almost $50,000!) represented by a South Lake Tahoe Realtor, you could actually be losing money.
While there are plenty of other factors that could benefit you by listing with a qualified Lake Tahoe Real Estate agent, you could still think going the FSBO route is best. We urge you to at least sit down with an agent and asking what they offer, what their marketing plan is and if they think you could successfully sell your home on your own. If you have any general South Lake Tahoe real estate questions, do not hesitate to call.