Why Not Offer Your Tamaqua Home For Sale by Owner?

 If you have a home in Tamaqua to sell, you might be toying with the idea of offering it "For Sale by Owner."

 

After all, if you list with an agent you'll have to pay a commission, and you’d really like to keep that money. And – how hard can it be to put a sign in the yard and give a few people a tour of the house?

 

You’re right. That part isn’t hard at all, but that’s not all an agent does. There are many reasons why you're better off being represented by a full service broker.

 

First, the price needs to be right, and without access to sold prices, and/or the seller concessions that might have been granted, you have no way to know what buyers are paying this month. All you have to go on are the list prices you find on line or the gossip you’ve heard about neighborhood sales.

 

In addition, because you haven't actually seen inside the houses you might be using as a comparison when pricing your own home, you don’t know if the houses you’re seeing offered for sale actually compare to yours.  

 

But … what about Zillow? Can’t you just go there and find out how to price your home? No. Absolutely not. Zillow is often 30% or even 40% off. Sometimes they’re high and sometimes they’re low. But they’re seldom right.

 

Next, being available to answer your phone and/or show your house at all hours of the day is not fun.

 

Some FSBO buyers seem to have no sense about showing up early or late, or calling at midnight. Plus, since those buyers are known to appear without appointments, you have to keep your house “show ready” all day – every day.

 

Forget about going out for the evening, spending a day shopping with friends, going to a ball game, or simply curling up with a good book for a day.

 

Paperwork is another issue. Today's purchase agreements are complicated, and the number of disclosures required by law is intimidating. If you forget to fill in a blank or enter an incorrect number, your mistake can cost you thousands.

 

Then there's the safety factor. Letting unknown strangers into your home is dangerous, especially when you’re home alone.

 

But perhaps most important to you is the fact that homebuyer surveys show that For Sale by Owner homes sell for less. 

Research shows that homes offered for sale without the assistance of a real estate professional sell, on average, for 13% less. In other words, the seller’s net at the close of the transaction is far less than it would have been with an agent – and meanwhile the seller had to do all the work.

 

Why do they sell for less? 

One reason is that buyers want that commission money just as much as the seller does. They know the seller isn’t paying a listing agent, so they negotiate harder.

 

The second reason is that the longer a home is on the market, the more buyers begin to think there's "something wrong" with it. Just as over priced homes become "stale on the market" and eventually sell for less, so do FSBO homes.

 

Why are FSBO homes usually on the market longer? 

Simply because fewer potential buyers see them. For one thing, unless you can stay home all day every day, you'll miss a few potential buyers.

 

But more importantly, your marketing doesn’t have the reach. 

Today over 90% of home buyers search the Internet to find a home. Many of them have narrowed the choices and possibly even chosen the home they think they want before they contact an agent.

 

That makes it vitally important for listing agents to post professional quality photos and virtual tours, and to write descriptions that tell more than the basic facts about a home. Then we publish that information on our Multiple Listing Service site, our company site, our personal site, and about 40 or so other real estate sites. As if that wasn’t enough, we blog about our listings and share those blogs on a variety of social media sites.

 

In other words, we do all in our power to put our listings in front of every possible web-surfing buyer.

 

You, as a FSBO seller, don't have access to all those sites. And here's the most startling news of all: A survey of home buyers reported that only 10% ever visited a For Sale by Owner website. The rest didn't even bother to check what might be available.

 

So when you're ready to sell that Tamaqua home, call me. I'll do all the things that are difficult for you – and get that home sold quickly and for top dollar.

Where is the best place to learn about homes for sale in Tamaqua?

When you begin a home search you a wide variety of places to look. In print there are newspapers and homes magazines. On line there are dozens of websites, all claiming to have the best information. Some even offer to tell you if a home is priced correctly.

Unfortunately, most of those websites don’t offer accurate information about homes for sale here in Tamaqua or anywhere else.

Why? Because they aren’t kept up to date.

When homes are sold, the listings often stay on line. When they’re listed again a few years later, searchers find the same house offered at two different prices. I’ve seen some that were listed three times, all at different prices.

It’s pretty frustrating for buyers to think they’ve located their dream house, only to learn that the home was sold long ago.

Avoid that frustration and search only on sites that offer up-to-date information.

What websites ARE up to date? 

Those that are populated with current information from the local Multiple Listing Service. This might be the MLS website or a local agent website with IDX (Internet Data Exchange).

Multiple Listing Services operate under strict rules that require agents to enter complete, detailed information about each listing and to update their listings when there is a price change. We must also enter appropriate, accurate information when a listing is sold. When a listing expires off the market or is withdrawn, it is removed from public view.

This accurate information is what agents use when preparing a market analysis for listing clients.

As for real estate websites telling you the true value of a property that is listed – pay no attention. Computer programs operate on the basic facts, such as age, square footage, and the number of bedrooms and baths. They don’t know and compare the details, such as condition, updates that have been done, or whether the neighbors have pride of ownership.

The solution is simple: When you want accurate listing information, visit a local real estate website. When you want accurate home price estimates, call a local REALTOR®.

When you’re buying or selling here in Tamaqua I am that local REALTOR®, and I’ll be glad share my knowledge with you, so call any time.

Overpriced homes, lowball offers – both a poor idea

Whether you’re looking for a home to buy here in Tamaqua or have a home to sell, you’re going to deal with price, and you may get a lot of advice.

 

Markets across the country are in flux right now – many say they’re normalizing after the radical ups and downs of the past dozen years. But still, some will tell you we’re in a seller’s market so you should list over-market. Others will insist that it’s a buyer’s market, so you should offer low and get a bargain.

 

Both types of advice are wrong, no matter what kind of market we’re in.

 

The best advice is to listen to your agent.

 

If you’re selling, a good agent will prepare a market analysis for you, based on the recent selling prices of homes as much like your house as possible. You can look on line and find homes you think are similar to yours, but your agent has more information and can make better comparisons.

 

Note that on-line estimates are often 30% or more above or below true market value. That's because computer programs don't know the details that make a house worth more or less. Therefore, they can't make comparisons based on homes that are truly comparable to yours.

 

Listing within a couple of percentage points of true market value will ensure the most showings – and the most likelihood of selling in a reasonable period of time.

 

Listing far above market value will almost guarantee that your house will sit on the market, possibly until the listing expires. You might get a few early showings, but buyer agents don’t want to waste their time or their clients' time. Therefore, they’ll discourage future showings.

 

If you’re buying, your agent can tell you if a house is at market value or not. If it’s badly overpriced, then a low offer might result in a purchase, depending upon how realistic the seller and their agent are. If it’s at market value and you really want the house, then the safest plan of action is to offer at or near the list price.

 

Some will tell you to go low because you can always go up if the seller counters. In some cases that will work. In others your offer will simply be rejected. If you’ve gone too low you may antagonize the seller to an extent that they won’t entertain your offer even if you come back higher than the list price.

 

Fifty years ago buyers, sellers, and agents didn’t have access to the asking and selling prices of homes across their marketplace. Today we do, and that knowledge makes a difference.

 

Be careful. Listen to your agent and be realistic when listing or making an offer.

 

If you plan to buy or sell here in Tamaqua, get in touch. I study the market constantly and can help you set a selling price or make an offer at today’s true market value.

Tamaqua House-hunting tips for dog lovers

Roger Caras said “Dogs are not our whole life, but they make our lives whole.”

 

If you share that philosophy in life, then you must consider your dog’s wants and needs as you search for your new home. Here are some points to consider:

 

First, consider the neighborhood.

The HOA: If you’re thinking of purchasing in a Tamaqua development with a Homeowner’s Association, check the rules and regulations. Some prohibit dogs entirely. Others restrict ownership to dogs of a specific size. Some ban certain breeds, such as Pit Bulls, Dobermans, and Rottweilers. Still others set a limit on the number of dogs you may have in your household.

 

One prospective homeowner was stunned when he learned that he would not be allowed to build a fence for his dog, nor could he install an underground electric fence. Fortunately he learned this fact before he signed the purchase agreement.

 

You just never know what might be found in the bylaws of an HOA, so read them carefully.

 

The walkability: If you like to walk your dogs, will it be safe? Are there good places to walk? Are there dogs running loose who may not be friendly toward your dog? Are there barking dogs behind every fence?

 

Places to play: Unless you’re planning to buy a home with a large yard for playtime, is there a dog-friendly park nearby? If there’s a park, check to make sure it’s not covered in signs saying “No Dogs Allowed.” A nearby off-leash dog park would be a bonus, but admittedly, those are not to be found in every community.

  

Once you choose a neighborhood, examine each house for its dog-friendly attributes.

• Is there a place for food and water dishes that are out of the traffic path? Kicking those bowls and scattering food and water over the floor does become annoying!
• Is there room for your dog’s favorite bed – or for a crate if he’s used to sleeping in an enclosed space?
• Are the floors dog friendly? Some dogs don’t like walking on slippery tile. Hardwood floors are beautiful, but a dog’s toenails do leave scratch marks.
• Is it easy for your dog to get in and out of the house? As dogs age, stairs can become a problem.
• Does the house have a dog-safe fence, or can you build one?
• Consider whether dogs are currently living in the house. If so, and if they aren’t well house-trained, your own dogs may feel compelled to “mark” spots in the house where other dogs have marked.

The size of the dogs in your life does make a difference in what you’ll need in your new home. Just one Great Pyrenees will take up considerably more space and need much more room to exercise than even six Toy Poodles.

 

When you're searching for a new Tamaqua home for you and your canine companions, get in touch. I'll be happy to sort through our Multiple Listing Service to find the most dog-friendly neighborhoods in which to begin the search.