FREQUENTLY ASKED QUESTIONS
Q: Can’t we save the commissions by selling ourselves?
A: As of 2015, the average home sold on the private market (for sale by owner) sold for $185,000, while the average home marketed by an agent sold for $240,000. Why is that? Well, for a few reasons. First, “for sale by owners” appeal to two crowds: bargain shoppers and unqualified buyers. With 88% of all real estate transactions taking place with the use of an agent, most buyers feel much more comfortable with the ever-changing process of buying a home, with the use of a real estate professional. With new lending restrictions and combating appraisal issues in a recovering market, buyers feel safest with a strong agent in their corner. When your home is listed with a strong brokerage, you have put your home in the spot light, appealing to all agents, knowing that when they take their buyer to view your home there is a process set in place without the concerns of potential hiccups that occur on the private market.
Q: We will pay an agent 3% to bring us a buyer. Why won’t that work?
A: 88% of all home sales last year occurred with the use of a buyer’s agent. You will have agents contact you to show your home. I’m sure you have already. However, the majority of the time agents will steer their clients away from “for sale by owners.” Why, you might ask? Well, as a private seller there is not a process set in place. A lot is left up to chance. Disclosures (90% of the time) have not been presented, and there are a number of other issues that can occur such as lending issues, appraisal issues, property condition issues, title issues, etc. Experienced agents, like myself, have nightmare stories about how to fairly navigate these issues while only representing the buyer. Most agents, even when a buyer suggests to view a home on the private market, will steer them away to other homes or suggest they wait until they find what they are looking for on the MLS.
Q: We have a friend in the business . . .
A: I can appreciate that and almost everyone does, but I will ask this question . . . is it possible that you are leaving money on the table by not letting a seasoned realtor, such as us, represent you?
Q: Another agent says they can get us more money, why can’t you?
A: Money talks, right? It is possible that the other agent is eager to get a ‘foot in the door’ at a high listing price with the intention of beating you up on the price afterwards during negotiations. That is not what you want! An experienced agent will provide some recent comparable sales to demonstrate up-to-date market value. You will want to be priced competitively from day one. The longer your home sits on the market, the less value it has!
Q: What do you do to sell homes?
A: Good question. There are two kinds of real estate agents. Passive ones and ACTIVE ones. The Hishmeh Real Estate Team is ACTIVE! We market, we negotiate, and we will do what it takes to get your property sold. We are ready to go to work for you.