Why use an_agent_to_sell_your_home-patrick_parker_realty


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Why use an_agent_to_sell_your_home-patrick_parker_realty

  1. 1. Partnership with ResultsUsing A Real Estate Agent to Sell Your Home Presented by Patrick Parker Realty
  2. 2. 9 out of 10 buyers buy with the help of a Defining Real Estate Agent. The ChallengeBefore you consider selling your home ‘For FSBO’s Lack Access to Qualified BuyersSale By Owner’ (FSBO), you might consider According the National Association of Realtors,the challenges FSBO’s face in this market. more than 90% of all real estate transactionsSelling a house is simply too difficult of a occur with the help of Real Estate Agents. Eventask to take on without the help of an if you get buyers to call you and preview yourexpert. Ultimately, the majority of FSBO’s home, you will not have a means to qualifyeventually list and/or sell their home them. The Agent qualification process informsthrough a Real Estate Agent. what a buyer can afford, whereas you will more than likely get stuck showing your home to buyers who can’t afford to buy in your price range.Buyer’s Don’t Trust FSBO’s What Buyers WantReal Estate Agents have a legal and Honesty & Trustworthinessethical obligation to disclose latent orhidden defects of any home. Thesedefects might be things you might leaveout unintentionally, simply because youmight not know what to disclose in thefirst place. The majority of buyers arelooking for honesty in an Agent. It is toodifficult to appear unbiased when sellingyour own home. Source: The NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers & Sellers
  3. 3. Defining More than 90% of all real estate transactions occur with the help of real estate professional. The ChallengeTime Constraints FSBO’s Cannot Be Comparatively ObjectiveYou probably have a full time position doing Buyers have Agents who help them shop acrosssomething else other than trying to sell your multiple properties and make comparisons. Youhome. If you are lucky you will be inundated may have the best backyard, you may have thewith calls. At the same time, there are the most closet space, but without a Real Estateinvestors looking to take advantage, the Agent’s expertise presenting these features, andbuyers who aren’t qualified and the sheer without knowledge of competing properties, youwork it takes to field or return calls. Many cannot leverage these sales points.FSBO’s allow incoming calls to go to FSBO’s Lack Real Estate Negotiation Trainingvoicemail; this may be the most criticalmistake of all. In this buyers market things Real Estate Agents are the glue that keeps a dealhappen fast and an Agent’s job is to not let together. Buyers will inevitably ask for things youany opportunity slip through the cracks. are not prepared or willing to give. Negotiation is a complex process which goes beyond justInsufficient Marketing Exposure numbers, details and data. A Real Estate Agent isReal Estate Agents have a marketing budget. a skillful negotiator who will manage variousFSBO’s eventually list with an Agent simply negotiating points, from running in-depth costbecause they don’t have funds to keep pace and comparative analyses to determining how towith other competing homes for sale. deal with a specific party. Most Difficult Tasks for FSBO Sellers Getting the Right Price Understanding & Performing PaperworkTime to Devote to Sales Process Selling within Desired Timeframe Preparing House for Sale
  4. 4. Pricing Your House The more realistic your price is to market value, To Sell the quicker your house will sell.Analysts have stated that FSBO’s believe their homes should fetch more than buyers are offering. Onthe other hand, buyers believe that FSBO properties are overpriced. This is where a Real EstateAgent’s expertise in pricing your house to sell is invaluable.Competitive Market Analysis Buyers “comparison shop” and theThe best price can only be determined by testing Competitive Market Analysis focuses on properties on the market competing for buyerthe market and challenging the competition. The attention.market dictates value based on currentconditions. A Competitive Market Analysis Only a Real Estate Agent has the tools andprovides the information needed to determine resources needed to pull, analyze and applythe value of your home. this data effectively. Case Study $ FSBO Guru Gets Agent HelpColby Sambrotto, founder and former chief The Benefit of Right Pricingoperating officer of ForSalebyOwner.com, spent Right pricing clearly works to your benefit bysix months trying to sell his luxury New York City resulting in a premium selling price in thecondo himself through online listings and shortest time. Pricing right means moreclassified ads. He then turned it over to a Real qualified buyers are viewing your property,Estate Agent where the two-bedroom pad you will not lose money by chasing thefetched $2.15 million. market down and you will avoid the stigma ofThe Agent, Jesse Buckler, said he told Mr. being a ‘stale’ listing. Pricing is the mostSambrotto the apartment in the Lion’s Head important aspect of selling your home and itbuilding on West 19th Street near Sixth Avenue requires the extensive market knowledge thatwas priced too low. It just wasn’t drawing the only a Real Estate professional can bring.right buyers. $After attracting multiple offers, Mr. Sambrotto’s condo wentinto contract in May 2011. It closed at $150,000 more than theoriginal asking price – covering well more than Mr. Buckler’sstandard commission.“At first he wouldn’t let me increase the price,”Mr. Buckler says. “I told him I know what I amdoing – the market is picking up.”Mr. Sambrotto confirmed the details of thetransaction with Mr. Buckler as the Agent to TheWall Street Journal. Source: The Wall Street Journal, 2011
  5. 5. Partnership With ResultsWhen selling your home, a Real Estate Agent cangive you up-to-date information on what ishappening in the marketplace and the price,financing, terms and conditions of competingproperties. These are key factors in getting yourproperty sold at the best price attainable.In fact, a 2011 Home Sellers study reports thatthe median sales price of an Agent-Assistedhome was 27% higher than one for sale byowner.A Real Estate Agent will market your propertyto other Agents - as well as to the public - andwill know the best way to go about doing so. AnAgent can also help you objectively evaluatebuyer proposals, and then, finally, help younavigate and close the sale. Obtaining Top Dollar FSBO Median Sale Price Agent-Assisted Median Sale PriceIn 2011, the typical FSBO home in BradleyBeach and surrounding areas sold for $357,927compared to $490,308 for Agent-Assisted homesales. +27% 500K $490K +27% 400K $357K $348K 300K $254K 200K 100K 0K Median New Jersey Home Sale Price Median Bradley Beach Home Sale Price Source: Onboard Informatics, 2011
  6. 6. About Patrick Parker RealtyPatrick Parker Realty, an independent boutique brokerage located in the heart of Bradley Beach isyour local market leader. We understand the demands of a changing real estate market and availourselves of the latest industry information and tools to ensure excellent results.Our seasoned Real Estate Agents are committed to providing all of our clients, from first timesellers to veteran real estate investors, quality and friendly service. We walk you through everystep of the sale process offering the guidance, feedback, and expertise needed to ensure yourcomplete satisfaction. © 2011 Patrick Parker Realty All rights reserved Patrick Parker Realty 624 Main Street Bradley Beach, NJ 07720 732.455.5252 pparker@patrickparkerrealty.com www.patrickparkerrealty.comwww.patrickparkerrealty.com