Ulster County Real Estate - What "For Sale Buy Owners" Should Know

Posted by Edwin Maldonado on Thursday, November 4th, 2010 at 11:57am.

Ulster County Real Estate - What "For Sale Buy Owners" Should Know

1. National studies have shown that the median sales price for homes sold by a REALTOR is 16 percent higher than for homes sold directly by the owners ($230,000 vs. $198,000).
2. You understand how to complete the many contracts, forms and disclosure statements required in a real estate transaction such as: lead paint disclosure statement, property condition disclosure statement, purchase contract, legal description of the property, contingency clause addendum.
3. You have the market knowledge to price the home competitively. FSBOs may know what one or two homes near them have sold for, but they don’t have the access to the wide number of comps you do or the market knowledge to adjust pricing. In some cases, a competitive market analysis of their home is an effective tool to demonstrate the professional value to FSBOs.
4. Your REALTOR will know when, where and how to advertise your property. There is a misconception that advertising sells real estate. National Association of REALTORS studies show that 82 percent of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts.

5. You can assess buyers’ ability to afford the property and help them locate the best places to obtain financing. Often buyers, especially inexperienced ones, rely on the real estate salesperson to help them obtain a mortgage and you have experience in helping buyers locate a lender and select between fixed, adjustable, or balloon mortgages. You are also more experienced in prequalifying buyers so that they will not make an offer on a home they cannot afford.

6. Your REALTOR can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing.  A full time Realtor knows to stay on top of the selling process from the beginning to the end.

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