Working with a Lake Tahoe Realtor comes with a lot of benefits. Especially during a tight market like the current one we are experiencing. While some homeowners think that going the For Sale By Owner route is the way to go in a seller’s market, you actually stand to gain more money and have a smoother transaction by hiring a Lake Tahoe Realtor. Let’s look at the facts.
- A Strategic Online Presence is Crucial
Even more so with Covid-19! Prior to the current health pandemic, 44% of a buyer’s very first step was searching online. As the process continued along, that number more than doubled with 93% using the internet to find homes for sale in Lake Tahoe. Add in that many people are staying home and things have continued on with a virtual format, almost all buyers HAVE to start their search online. A homeowner without a Lake Tahoe real estate license is not going to have the tools or resources to get their listing in front of buyers online.
- Safety and Health Are a Priority
With everything going on, the health and safety of your family is first and foremost. For Sale by Owners will not have the tools or resources to 1.) control or keep track of who is coming into their homes and 2.) know the required protocol that is in place for also keeping buyers and their Lake Tahoe Realtors safe and healthy. There are special forms, required PPE and a limit on how many can be in a home at one time. These are also changing constantly.
- There Can Be a Lot of Negotiations
As a Realtor, we don’t just take photos, schedule showings and push paper. There are negotiations, addendums, working with the other Realtor, the Appraiser, the Lender, the Inspector, Title and if the deal falls out, it has to be done all over again with all those parties. When you FSBO, you have to deal with negotiating with the buyer’s agent and their clients and the inspector, both of which by the way, are working with the best interest of the buyer. The appraiser may also question the value. If this becomes an issue, it is the Realtor who does the work to try to prove why homes for sale in Lake Tahoe are worth a certain value. Which means that you aren’t simply listing a home, signing some paperwork and handing over keys-you are negotiating with all these people to make sure you are getting your home’s proper value. A local Realtor is trained and taught every variable and aspect of the transaction and act as guides, advocates and mediators so that all parties feel heard and confident in their decision to sell or buy what could possibly be their biggest investment.
- Legally, FSBOing has Become More Difficult
As previously mentioned, there is a lot more to the selling process than simply filling out some paperwork. In fact, the documents required have dramatically increased to include more disclosures, addendums and forms. These are not optional, either. The job of a Realtor is to ensure that sellers don’t face legal jeopardy when listing their Lake Tahoe homes for sale. Because of the legal liabilities alone, FSBO-ing has dropped to just 8% in the last couple decades.
- Your Realtor Will Know if a Buyer is Qualified
Having a buyer who wants your house is great, but if they aren’t pre-qualified, there isn’t a whole lot you can do. It is hard as someone who is not “in the industry” to determine if a buyer is really approved or not, but Realtors know the right questions to ask. They also are able to know if progress is being made towards getting a loan by communicating with the buyer’s Realtor. Due to the pandemic, the mortgage industry is rapidly changing. Not only can the process take longer and be stricter than it was even a year ago, but a loan option that was available just a few days prior may be gone already. You need a Realtor who is familiar with mortgages so they can make sure that your buyers are able to make it to closing.
- You Actually Make More Money When You Use a Realtor
So many sellers think they will make more money listing Lake Tahoe homes for sale than if they use an agent. The reality here is that properties listed by an agent close for more money than a FSBO. In fact, one report by the National Association of Realtors stated that homes represented by a Realtor made $60,000-$90,000 more than FSBOs. The one main reason being that we simply have the tools to get properties in front of more buyers than a non-licensed seller will ever be able to do. In addition to that, we have the training and education to help you navigate the various things that can, and will, pop up during a transaction.
You can either list and end up managing the entire transaction on your own or you can hire someone to do it for you and still make the same amount of money at resale. For more information, feel free to give me a call. I would be happy to help!