For Sale By Owner Advice--When Do I Know it Is Time to Hire A Professional?

By
Real Estate Broker/Owner with Bayou Properties Realty
http://actvra.in/xVl

home for sale in Pineville Louisiana

 These days every penny counts. As the father of four daughters I certainly understand the need to save a buck. Owners who try to sell without representation have my support. If it works out, then good for you.

 But what if the home lingers? How does an owner decide enough is enough, I'm calling in the professionals! Let's examine what a professional agency can do for your situation:

1) Security-- This is often overlooked. Most "buyers" will find a FSBO from the signs. You would be surprised what sort of people will show up on your door step. Some of them even want to buy a house. Are you prepared to speak with the person on the other end of the peep hole?

2) Thick Skin-- Let's face it, getting a home loan if FAR more difficult today than a few years back. Are you prepared to ask tough financial questions to a stranger? Or even worse, a family member? Over time, agents learn how to ask qualifying questions without being abrasive or pushy. Frankly such wisdom comes from trial and error.

3) Insurance-- How certain are you that the home is 1523 heated square feet? With bay windows, home additions (can I count the garage conversion as square feet), and crazy curves measurement can be difficult. Keep in mind your home is probably worth 80-100 bucks a square foot. What if you are off by 40 feet? Are you prepared to bring an extra 3,200 dollars to the table? Agents have insurance for such mistakes. Do you?

4) We Know What Works-- Agents are similar to sea gulls. Before human expansion sea gulls would comb the shore looking for small fish or crabs. Today sea gulls have learned to follow humans for the best goodies. They adapted to changes in their environment. Likewise, agents understand that what sold a home in 2003 probably won't work in 2012.

5) We Are Not Emotionally Invested In Your Transaction-- Emotion works great in the movies. The passionate speech keeps the innocent person off death row, tears reunite a couple facing divorce. In real life emotion gets in the way. Your family may have 100,000 dollars riding on a negotiation. Enough money to make or break the family budget. Still think you can keep a straight face?

6) You Sell potatoes to individuals, Agents sell potatoes to McDonald's-- As a FSBO, you are marketing to individuals purchasing a home. Agents market to other agents. Most agents have 3-5 active buyers each, some have more! This means FAR more APPROVED buyers will see your home.

 Give the For Sale By Owner process a try. After all there may be a ready, willing, and able buyer for your home. But if days turn into weeks, it's time to consider professional representation. Call me direct at (318) 613-1994 for a private consultation. As always, search the Cenla MLS for free at www.LouisianaHouseHunter.com

Doug Rogers Bayou Properties Realty

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Searching for a Top real estate agent in Alexandria Louisiana? Need help selling your Pineville, Louisiana home? Either way call Doug today!

Doug Rogers

Broker/Owner

Bayou Properties Realty

 

Bayou Properties Realty

301 Jackson Street, Suite 201

Alexandria La 71301

(318) 613-1994

 Equal opportunity housing. Doug Rogers is a licensed real estate broker in Louisiana

 

 

 

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Re-Bloggged 8 times:

Re-Blogged By Re-Blogged At
  1. Ron Cooks 03/26/2012 11:25 PM
  2. Rosemary Brooks 03/27/2012 02:34 AM
  3. Sally English 03/27/2012 06:31 AM
  4. Ron Tissier 03/27/2012 07:44 AM
  5. Amanda S. Davidson 03/27/2012 09:47 AM
  6. Brenda & Ron Cunningham 03/27/2012 11:27 AM
  7. Rockwell Institute Real Estate Education 03/28/2012 01:40 PM
  8. Charles Stallions 03/30/2012 06:37 PM
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Topic:
ActiveRain Community
Location:
Louisiana Rapides Parish Alexandria
Groups:
Louisiana Lagniappe
FOR SALE BY OWNER - MARKETING(FSBO)
POSITIVE ATTITUDE for the Weary Soul
Real Estate Professionals
Tags:
doug rogers bayou properties realty

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Rainmaker
122,319
Ron Tissier
Atlanta Luxury Real Estate Sales & Consulting
Chapman Hall Realtors/Atlanta Luxury Home Sales & Consulting

Great info Doug!  Another important point for FSBOs who try to go it alone when selling their homes is that they're more likely to leave money on the table IF the transaction makes it to closing at all.  Always best to use the services and guideance of a professional REALTOR.  Re-blogging!  

March 27, 2012 07:18 AM
Rainer
104,249
Ric Mills
Integrity, Honesty, and Vast Real Estate Knowledge
Keller Williams Southern Az

Terrific post and some great conversation pieces to have with FSBO's. 

March 27, 2012 07:34 AM
Rainmaker
332,294
Eric Kodner
Wayzata Lakes Realty: Twin Cities, Madeline Island
Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes

When is it time to hire a pro?  Well, FSBOs unfortunately tend to wait until they've tried for a year or more.  The year on the market has made their listing shopworn and overpricing has driven away a good segment of potential prospects.

March 27, 2012 07:49 AM
Rainmaker
850,012
Lottie Kendall
Serving San Mateo County and San Francisco
Today | Sotheby's International Realty

Excellent points made, Doug.

March 27, 2012 07:56 AM
Rainer
66,080
Valarie Swanson
San Diego Real Estate
Century 21 Award

I respect homeowner's who try the FSBO route because I know that I would never want to do it, and I LOVE selling real estate (just not my own). Then again, I don't like selling off of Craigslist either. You just never know who's going to show up at your doorstep.

March 27, 2012 08:33 AM
Rainmaker
307,612
John DL Arendsen
Real Estate Bkr, Factory Built home Dealer/Devlpr
TAG Real Estate Sales & Investments & ON THE LEVEL GC

Good sound advice. I actually position myself to pick up all the pieces for frustrated and disillusioned FSBO's who finally woke up and whiffed the rotten roses.

March 27, 2012 08:48 AM
Rainer
67,535
Tonia Vickery
RE/MAX Desert Showcase

Doug, this is such a well written and informative article article! I really like it. I would also add to to the FSBO that "You don't know what you don't know" and that could be expensive! We just had a lady on the news here who bought a FSBO without an agent and closed on the home. Went to the City to get some Winterization things done they were offering and when the inspector came over he informed her that her house was really an old garage that had been retrofitted so now it didn't even meet code as a single family home. She is now on pins and needles waiting for the City to evict her. She didn't know what she didn't know.....

March 27, 2012 08:59 AM
Rainmaker
493,834
Amanda S. Davidson
Your Northern Virginia Realtor
Living A Dream Real Estate

Very impressive post Doug - the Mcdonalds analogy is priceless. I'm going to reblog, recently I've seen more FSBO's in the Northern VA area than in the past. Thank you for sharing.

March 27, 2012 09:33 AM
Rainmaker
313,510
Sandy Acevedo
RE/MAX Masters, Inland Empire Homes for Sale
951-290-8588

Hi Doug, you make great points and some I have not heard before as a way to overcome those obstacles. Well done!

March 27, 2012 10:05 AM
Rainmaker
570,044
Bill Gillhespy
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
16 Sunview Blvd

Hi Doug,  Great informative post.  Your 5th item is so critical to marketing a home.  Emotional involvement is great in most things- not so much in our business.

March 27, 2012 10:27 AM
Rainmaker
65,094
Brenda & Ron Cunningham
Realtors, Homes for Sale - Phoenix Metro
West USA Realty

Great post.  I don't think most people think about the security issue, but that is a bigger problem for FISBOs than they realize.

March 27, 2012 11:13 AM
Rainmaker
160,539
Elisa Uribe- Realtor
Oakland CA Homes for Sale
Wells and Bennett Realtors

Doug- well said! I hope people are willing to listen to your sound advice. Best of luck.

March 27, 2012 11:21 AM
Rainmaker
647,735
Evelyn Kennedy
Alameda, Real Estate, Alameda, CA
Gallagher & Lindsey, Alameda, California

Doug:

Everything you say in your post is true.  I especially like your points about security and insurance.  I don't think many FSBOs think about either of those points, but they should.

March 27, 2012 01:59 PM
Rainer
121,976
Debora Nichols
Realtor Anthem,Phoenix,Scottsdale,Glendale,Peoria
Residential Sales, Purchases, Investors, Vacation Homes

Love the potato analogy.

March 27, 2012 03:14 PM
Ambassador
893,495
Bob Crane
Forestland Experts! 715-204-9663
Woodland Management Service

Great advice Doug, probably many more reasons in addition to these to hire an agent, I am sure we will see these inthe comments.

Thanks

March 27, 2012 03:32 PM
Rainer
275,327
Kimo Jarrett
Kimo's Lifestyle Solutions
WikiWiki Realty

The FSBO can be successful if they have experience in selling real estate and a few do and great for them as you already stated. However, anybody who attempts marketing and selling their property without experience is losing money because time is money isn't it?

The FSBO fails to account for their lost time in the process of selling their property, consequently, they think they are saving money when in fact they are losing money because they don't account for all the time spent in the process. 

During the time they spent, other qualified buyers were buying comparable homes of the FSBO from their RE agent, so they missed the opportunities of getting their homes sold. That's a fact, isn't it, so when FSBO's fail they finally hire a Realtor to sell their property, don't they?

March 27, 2012 03:59 PM
Rainmaker
629,408
Stephanie/Bob The Ruiz/Miller Team
The Ocala Dream Team
Keller Williams Cornerstone Realty

Hi Doug, great list and congratulations on blogging for the real business reather than just AR members.

March 27, 2012 04:18 PM
Rainmaker
1,237,748
Gene Riemenschneider
Turning Houses into Homes
Home Point Real Estate

Good advise.  People loose a lot of money trying to safe some.  Penny wise and pound foolish.

March 27, 2012 10:13 PM
Rainmaker
347,853
Sylvie Stuart
Home Buying, Home Selling and Investment - Flagstaff, AZ
Keller Williams Check Realty 928-600-2765

These are excellent points to use with FSBOs. A lot of people think we just put a sign in the yard, but there is so much more that happens behind the scenes and knowledge that the public doesn't have.

March 28, 2012 06:53 AM
Rainmaker
826,822
Tim Lorenz
949 874-2247
TIM LORENZ - Elite Home Sales Team

It is a really difficult thing to sell your own home. Then try to compete with professionals.

March 30, 2012 06:42 PM
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