Selling Your Own Home vs Real Estate Agent

Selling Your Own Home vs Real Estate Agent

The distressed home has been prominent these past 5 years with bank owned homes and short sales in Areas like Phoenix, Peoria, Surprise, Glendale, Scottsdale. New Subdivisions like Marley Park in Surprise and Westwing in Peoria were severely upside down in value.  Home prices have slowly increased in value in some Phoenix, Peoria, Surprise, Glendale, Scottsdale Areas. In February 2012 the traditional sellers (Equity Listings) reached 49% of the homes listed on the MLS. Bank owned homes on the MLS were down from 58% in February 2011 to 23% in February 2012.

Homeowners trying the For Sale by Owner method

Dave Ramsey says to the For Sale by Owner: “If you go with a high-octane real estate agent, you’ll have the advantage of being exposed to their entire pool of buyers. More importantly, you’ll be in the MLS, or Multiple Listing Service, database. There, you’ll immediately have thousands of potential buyers. So, who do you think will have the best chance of selling your house? Market exposure is everything in the real estate game!”

For Sale By Owner (FSBO) Statistics

FSBOs accounted for 10% of home sales in 2011. The typical FSBO home sold for $150,000 compared to $215,000 for agent-assisted home sales.

FSBO Methods Used to Market Home:

Yard sign . .  . . . .44%             Listing on Internet . . . .33%         Friends/neighbors. . . . . . . . . . . 27%

Open house . . . .19%             Newspaper ad . . . . . … 17%         For-sale-by-owner Web site. . . .12%

Most Difficult Tasks for FSBO Sellers:

  1. Getting the right price
  2. Understanding and performing paperwork
  3. Having enough time to devote to all aspects of the sale
  4. Preparing/fixing up home for sale
  5. Selling within the planned length of time

The Economy

As in past downturns, renewed job growth and stronger consumer confidence are needed to spark the housing recovery. However, conditions in few states showed signs of improvement and confidence has remained relatively low. In addition, the persistent decline in home prices, the ongoing foreclosure crisis, the large shares of underwater homeowners, and tight lending standards are all holding back homebuyer demand nationwide. But, experts have touted that across the valley, from Areas like Phoenix, Peoria, Surprise, Glendale Scottsdale, we are set to have the quickest resurgence from any other real estate market nationwide. With a current 1.34 month housing inventory on the MLS it has created a buyer’s frenzy and an advantage for seller’s that have been waiting to sell their home. Sale prices are up 20% from this time last year. To receive the highest exposure possible during this market upturn, home sellers are relying on the value and expertise of professional real estate agents to bring them the highest and best offers on the sale of their homes.

Doreen Inzalaco, Inzalaco Team, 480-420-9151, www.inzalacoteamaz.com

Selling Your Own Home vs Real Estate Agent

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