Sweet Home Chicago

Redefining Real Estate

Sell By Owner or use a REALTOR®?

fsboorrealtor2You’ve decided to sell your home, now what? Are you ready to take it on yourself and handle all the details to prepare and market your home, negotiate with a buyer and navigate the closing process? Are you willing to sell for less, take longer on the market and most likely have significant difficulty selling if you decide to go it on your own?*

*(Statistics in Infographic below)

Surely you are thinking you’ll save yourself a LOT of money in commission by taking the ‘for sale by owner’ route, or possibly that the commission a REALTOR® would receive is too high. Otherwise it makes sense to hire a pro, doesn’t it? After all you wouldn’t go it alone for representation with a lawsuit or for medical care. You wouldn’t even go it alone for servicing your HVAC system. You would hire the appropriate professional.

Here we explore the various aspects to selling your home yourself so you can make the best decision for you and your family.

Your Home’s Value and Readiness

Granted, you know your home better than anyone and can assess its benefits (and challenges) when selling. But, there’s more to the evaluation process than this. You’ll need to:

  • Access recent market data and sold information, then compare homes most similar to yours to determine the ideal asking price. Yes, you can pay for a home appraisal, which will cost an average of $350 up, but an appraisal report is limited to three sold and three active listings. When MaryEllen prepares a custom CMA for you (comparative market analysis), she shares the ‘big picture’ view of your immediate neighborhood, previews homes and may even have shown or represented the seller of a recent sold home around the corner. She spends considerable time explaining her findings and makes sure you understand and agree with her evaluation.
  • Take a honest look at the condition of your home and decide how to best address any repairs or improvements before you list.MaryEllen has the experience to guide you in this area and has access to reports that show what improvements bring the best return when you sell.

Marketing Your Home to Bring a Buyer Fast

Technology has come a long way in recent years and marketing your home to a broad base of buyers is easier than ever. But doing it right takes time and expertise. There’s more to marketing your home than simply listing it on Zillow. Timing is very important, you’ll want your home to shine during the entire listing marketing period. However, the first two to three weeks when it is introduced to the market are crucial. MaryEllen saturates not only the internet, she blankets her potential buyer list, reaches out to thousands of fellow Chicagoland agents and takes advantages of her various other exclusive marketing avenues.

Most buyers prefer that the Seller is not present during showings, so making arrangements for keeping the home open but not being present can be a challenge for a For Sale By Owner (FSBO). Another challenge can be confirming the buyer is pre-qualified to purchase your home. When you work with MaryEllen, she is responsible for managing showings and vetting potential buyers.

Making Sure You Don’t Lose a Great Buyer

Likely the most vital step, once you have an interested buyer you need to screen them for their readiness to close. Making sure the buyer you execute the sales contract with is viable, legitimate and prepared to meet the closing date is paramount. Speaking of the contract, the knowledge and expertise MaryEllen brings to the table helps you negotiate a written offer that favors you. When’s the last time you navigated the real estate sales contract? As both an experienced Real Estate Broker and a past Paralegal in Real Estate, MaryEllen knows the state-mandated contracts and disclosures to include, what not to overlook and all the caveats that could come into play. Taking yourself out of the negotiation process also removes any emotion-based reactions that could cause setbacks to reaching the closing table.

The 30 to 60 days it takes to get to closing after signing the contract contain milestones and deadlines, inspections and appraisals that must be met. MaryEllen closely monitors the timetable so nothing is missed and skillfully facilitates all the parties to the transaction as well as negotiates the attorney, appraisal and inspection issues that arise. MaryEllen also keeps in close contact with the Buyers’ lender and the progression of the loan approval, something a Seller is not allowed to do for privacy reasons.

click to enlarge

Making More Profit By Selling Yourself

Contrary to what you may think, less sellers are taking the task of selling upon themselves. Statistics show you can pay an agent and still make more by using them than not. According to the 2014 National Association of REALTORS® Profile of Home Buyers and Sellers, FSBOs accounted for 9% of home sales in 2013. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales.

Does this info have you taking a closer look at selling by owner? We are happy to help you explore your options even more. Give MaryEllen a call when you are ready to sell your Chicagoland or northwest suburban home.

MaryEllen Kuehl, ABR, CRS, PMN, SRES
Managing Broker/Owner
The Kuehl Group, Inc.
O: 773-327-5753 | C: 773-742-1479


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This entry was posted on August 6, 2015 by in Uncategorized and tagged , , , .
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