When buying or selling a home in Roseville, it can be quite the adventure, which is why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal. But in this world of instant gratification and internet searches, many sellers think that they can save money by selling it themselves, ‘For Sale by Owner’ or ‘FSBO.’ And buyers want the commission that would be paid to an agent that would be representing them, so they may go directly to the seller or listing agent so they can collect that paycheck.
The 5 reasons you NEED a real estate professional in your corner when buying or selling a home in Roseville haven’t changed but have been strengthened by the projections of higher mortgage interest rates and home prices as the market continues to pick up steam. There’s more money to lose; a higher risk in representing yourself.
If you don’t use a realtor for any other reason, use one to keep from losing every dollar you have now and will ever have by getting sued.
1. What do you do with all this paperwork?
Each state has different regulations regarding the contracts and disclosures required for a successful sale, and these regulations are constantly changing, especially in California. It’s a complicated process. There are a lot of pitfalls and dangers – all of them can get you sued. A true real estate professional is an expert in his or her market and can guide you through the stacks of paperwork necessary.
2. Ok, so you found your dream house, now what?
That’s just the beginning! There are over 180 possible steps that need to take place during every successful real estate transaction. Every step filled with its own landmines.
3. Are you a good negotiator?
So maybe you’re not convinced that you need an agent to sell your home. After looking at the list of parties that you will need to be prepared to negotiate with, you’ll soon realize the value in selecting a real estate professional. From the buyers (who want the best deals possible), to the home inspection companies, all the way to the appraisers, there are at least 11 different people who you will need to be knowledgeable of, and answer to, during the process.
How you answer those questions or instruct those professionals could be the difference between the success and failure when buying or selling a home in Roseville.
4. What is the home you’re buying/selling really worth?
It is important for your home to be priced correctly from the start to attract the right buyers and shorten the amount of time that it’s on the market. So what’s priced “correctly”? I can tell you Zillow is not the source of the perfect pricing strategy.
You need someone who is not emotionally connected to your home to give you the truth as to your home’s value; an agent who knows the neighborhood and local market. According to a study by Collateral Analytics, FSBOs achieve prices significantly lower than those from similar properties sold by real estate agents:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”
Why? It’s really hard to negotiate for yourself. It’s pretty common for sellers to tell the other agent or other party something they shouldn’t have – something that will damage your negotiating strength. For example, that you already purchased another house. Now the buyer knows that you’re paying two mortgages, your finances are stretched and you need to sell that house! Your negotiating leverage just went out the window.
5. Do you know what’s really going on in the market?
There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Real estate is local. So what’s going on in the Bay Area or Los Angeles is definitely not the same as the Roseville real estate market. Who do you turn to in order to competitively and correctly price your home right from the beginning? Pricing is the number one important factor in selling your house. Get it wrong and your house will sit on the market to the point where buyers think there’s something wrong with it; or you’ll end up continually reducing the price until it finally sells.
How do you know what to offer on your dream home without paying too much, or offending the seller with an offer that’s too low? There’s a fine line between low and too low.
Dave Ramsey, the financial guru, advises:
“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”
Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one. You need someone who is going to tell you the truth, not just what they think you want to hear, which can be difficult. Nobody wants to give bad news! In real estate, you not only need someone to give you bad news, you need someone to give it to you quickly!
Do you want to save money or make money when buying or selling a home in Roseville? There’s a difference. You may save money by representing yourself when buying or selling a home in Roseville; but it will cost you in the long run because of the mistakes you’re likely to make along the way. Get an expert. It’s worth the expense.