For Sale By Owner, Don’t Try This at Home.
“Should I sell my home on the Big Island myself? It’s a question thousands of homeowners ponder each year, and the majority is motivated by a perception that the For Sale By Owner (FSBO) process saves sellers time and money.
“FSBOs often make the decision to sell their houses on the Big Island themselves because they think it is easy, and the home will sell quickly,” says Howard Dinits, CRS, of RE/MAX Resort Realty in Wailea Maui Hawaii 96753 “Certainly, they want to save the commission and quite honestly feel the soft market makes it hard to break even.”
Unfortunately, the do-it-yourself approach doesn’t always end successfully. Before making a decision, here are a few things to consider.
1. Howard Dinits RS CRS sells homes for more money.
Some 61 percent of FSBOs sell their homes themselves to avoid paying the commission fee. However, the typical FSBO home sold for $25,200 less than an agent-assisted home. That’s $163,800 for FSBOs, compared to $189,000 for agent-assisted homes.
2. Howard Dinits understands the ins and outs of the complicated Hawaii Real Estate transaction process.
It is a Realtor’s job to guide and support clients during the sale of a home. They also help mitigate the overwhelming and time-consuming contracts, forms and disclosure statements required throughout the process. The most challenging tasks for FSBOs include: preparing/fixing up the home for sale; getting the price right; understanding and completing paperwork; selling within the time planned; and attracting potential buyers.
In addition to their deep knowledge of the real estate process, Dinits reminds FSBO sellers that CRS-designated REALTOR’s care about where and when they want to move, as well as how much money is needed from the transaction. “CRSs demonstrate client service by involving sellers as much as they’d like. On the front end, agents know that marketing the home effectively leads to broader exposure. They appropriately follow-up with each prospect and alleviate a common FSBO fear of missing out on reaching the right people.”
3. Howard Dinits CRS knows how to market your Big Island home effectively.
Getting the word out is essential for a successful and timely sale, so agent-assisted sellers benefit from frequent use of a wide array of marketing tactics. FSBOs rely mostly on yard signs, newspaper advertisements and open houses to incite buyer interest. Only 24 percent use the Internet to market their homes, while 72 percent of agents do.
“The biggest challenge for FSBOs is getting enough exposure for their home,” Howard continues. “The Big Island newspaper captures only 1 percent of potential buyers, the Internet captures 32 percent, and the Multiple Listing Service (MLS) captures 51 percent.
“When FSBOs convert to listing with a REALTOR?, they find the tools Howard uses to reach potential buyers very valuable. We go beyond the MLS by reaching buyers who visit www.REALTOR.com, AOL, Yahoo! and MSN. CRS-designated REALTORs? in particular enjoy extensive relocation networks that bring in buyers from all over the country.”
4. Howard Dinits is trained to overcome objections, negotiate and remain impartial.
Selling and buying real estate is an emotional process for homeowners. When its time to negotiate price, Howard Dinits is his clients’ advocates and can compile statistics and research, balance offers and counteroffers, and handle many of the contingencies that can be frightening and frustrating for buyers and sellers working alone.
“FSBOs in Hawaii underestimate the amount of follow-up required,” Howard says. “Potential buyers tour their homes, but the owners typically are not sales people and end up telling more than selling. The pride of ownership doesn’t translate into a sale follow-up does. When Howard Dinits, instead of owners, works with buyers, it helps shield the emotion of buying and selling away from the negotiation.”
5. Howard Dinits’ clients are satisfied.
Since 2005, 83 percent of sellers worked with a real estate agent. The majority of sellers who work with Howard Dinits believe they benefited from his experience and knowledge of the real estate market, and 95 percent report they would use Howard again or recommend him/her to others.
Not convinced and you still want to sell your house on your own?
There’s a FREE service http://fsbohawaii.info/
provided by Howard Dinits RB CRS