Selling a home raises a lot of questions. Over the years we’ve found that sellers we work with ask similar questions about selling their home in Tampa. We answer all of those questions (and more!) below.
When is the best time to sell my house?
There are three factors that will stop any deal from happening: first impressions, inspections, and the appraisal. Being proactive in all three of these areas is extremely important. We have a proven track record and award-winning strategies to help our sellers get their homes ready to hit the market. Our approach includes a unique pricing strategy, professional staging and photography, along with a list of preferred providers who will make sure that your home is ready for the pickiest buyer.
What do I need to disclose to buyers?
We always suggest that our sellers be as truthful and accurate as possible when disclosing items in their home. Even the best-maintained home has had the occasional leak or difficulty. Sellers should not be afraid to disclose the complete facts. Sellers should also address that all problems and issues were dealt with professionally, carefully, and diligently. This only adds value in many buyers eyes.
How do we determine the price to list my home?
This is probably the question we get asked the most, and the most important question to get right! We have been tracking historical sales data in the greater Tampa Bay Area since 2004. Some communities even farther back than that. We provide a thorough market analysis for your review, which includes the latest trends and sales in your community.
Can’t I just see what Zillow or Tulia say about my home’s value?
Zillow, Trulia, and the other aggregated sites have never been in your home and are not local experts to the Tampa Area. There are tons of articles and even lawsuits about how Zillow's "Zestimates" are wrong.
Our pricing strategy combines both neighborhood trends and our local knowledge so you can know the actual value of your home.
What if I sell the house on my own?
The truth is many folks sell their own homes every year. While some people have the time and experience to effectively sell without an agent, most FSBO home sales fail. It’s no surprise that the percentage of US homes sold by owner has seen a steady decline.
Here are 10 top reasons not to sell your home by owner:
When you decide to FSBO be prepared to sacrifice a lot of time. From staging the property and taking perfect pictures, to getting the description and marketing right, selling your home on yourn own is a full-time job. You’ll also spend time showing the property, entertaining lookie-loo’s and door-kickers, and talking with agents who won’t take you seriously.
When you sell by owner you may think you’re saving money, but in reality, you’re often spending a lot of money up front with no guarantee of any return. Listing agents spend a calculated amount of money up front to make sure a listing sells and ultimately pays both you and them both fairly.
3. Saving On Commission
Choosing to FSBO doesn’t really save you money. On average, homes sold by agents get $230k compared to $180k for FSBO. When you find the right agent they will price your property to get the most money in the shortest time, a combination that can mean 10-30% more net profit. When you are considering saving 1.5-3% on a listing commission, you should take that into consideration.
4. No Money Up Front
Listing agents do not charge anything upfront to sell your home. If they spend thousands and can’t sell it for the price you want, they are out those thousands, not you! This is perhaps one of the greatest benefits about using an agent. There is an extremely low risk and cost of doing so!
The perception of FSBO sellers is that they are not serious about selling their properties and are often just testing the market or seeing if they can get some far-fetched price or perfect buyer that isn’t realistic. They are often not taken seriously in the real estate community because they don’t see the value in representation by an agent or broker.
You might be ready to post your home on Facebook and Craigslist a few times, but you don’t have the ultimate home selling tool – the MLS. The multiple listing service can only be accessed by licensed real estate agents, and is the way to get your home listed on sites like Realtor.com, Zillow, and Trulia. A large majority of home buyers begin their search on sites like these, and you want your home to be seen by as many buyers as possible to get the best price. It’s no surprise that homes sold via FSBO have seen a steady decline as online real estate has become the norm.
When you sell your home without an agent, any mistakes you make can cost you greatly. Agents have something called E&O (Errors & Omissions) Insurance. This protects them when mistakes are made in contracts. When you sell on your own, others can make sure to exploit every little mistake you make.
8. Agent Boycott/Sabotage
When you decide to sell your home yourself you are telling other agents that you don’t understand their value in a multi-billion dollar industry. Agents often see FSBO sellers as easy marks to negotiate against because they have the upper hand. They control the buyer/offer and can negotiate their own commission. They can also pick your property and price apart because they have the expertise to do so. They don’t need to worry about treating you unfairly because the chance of them dealing with you again is slim to none. More often than not they will simply ignore your listing altogether to avoid the hassle.
9. Pricing Incorrectly
Pricing your home incorrectly when you list it can be the worst mistake, and can greatly affect days on market and final sales price. Pricing too high will mean fewer people see it, resulting in fewer offers. Price it too low and you’re conveying that something is wrong with the property or that you are desperate to sell. More days on market will also signal to buyers that something is wrong and can ultimately mean less money upon final sale. Learn more about setting the price right here.
10. Low Ballers
When you FSBO you attract investors and low-ballers who see your inexperience and ignorance as a prime opportunity. What may seem like a lot to you may be a steal to them. An experienced agent will understand this and negotiate the most money possible for you.
How do you plan to market my home?
EVERY home is unique. EVERY selling situation needs to be addressed independently of the next. We strive to get your home in front of as many eyes as possible while providing the right message and using the best strategy.
We use the latest technology as well as good old-fashioned hard work to get your home in front of the right potential Buyers.
Understanding the buyers in Tampa Bay and what they are looking for is an on-going process.
Staying up-to-date on the market conditions, # of available homes and "speed to contract" data are just a few of the factors we consider when creating your unique marketing strategy.