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4 Huge Reasons Not to Sell By Owner

4 Huge Reasons Not to Sale By Owner

4 Huge Reasons Not to Sell By Owner

Gone are the days of easy selling and financing. HA! Believe me, it was never easy.

1. Real estate transactions are more regulated and more complicated

The real estate market has consolidated since the 2008 bust. Just like the lending and banking industry.  As a consumer you have less choices. That’s unfortunate. It’s harder to do a deal. Because you probably don’t buy or sell homes on a daily basis you don’t understand the real estate industry nor how it operates.  This is the number 1. factor for not trying to sell by owner.  Financing and appraisal issues are again killing deals.  You chances of completing a successful transaction are very, very low in today’s world.

2.  The Internet does not sell your home

Everyone and anyone is on the Internet today, would you not agree? With so much content and mis information your home is competing on third party sites that use your home as content to sell advertising. You are competing against every home listed in the world. Even if you’re showcased you are competing agains millions of properties. It’s hard to find a needle in a haystack. In fact, most internet leads are bad and most are looking to rent or look at home design or decoration ideas from you, your personal residence.

It’s a proven fact that 96% of homes sales are made by a buyers agent not the listing agent. Why? Because they work with serious home buyers & listing agents work with serious home sellers. A local Internet strategy, direct mail and the local MLS will sell your home quicker and for more money. Third party sites are far from the real MLS.  Technology is robust and accurate and there are local buyers and agents prospecting your home for a fast sale, 24 hours a day. No third party site required.

3.  Open Houses are opportunities for listing agents to prospect and use your house to gain more leads

If you do for sale for owner, open houses are not the answer. Why open your house in this day and age and not know who is going to come? Open houses are an open opportunity for thieves to prospect you home. Safety is another concern. On the other side, open houses are good for qualified buyers to research a neighborhood.

4. Using an agent will get you more money – How much?
A Lot!

I recently had a client that was approached on a business property. She was solicited directly from an investment group looking to buy up a block on Central Expressway. There are many solicitations done this way. They want to buy wholesale or discounted. They throw a number out and if you like it you take it. Instead of finding out the retail value of a property and working that angle. On this particular deal, they lost $200,000. by not finding out what property is really worth.  The fact is an investment group will go low and can afford more. This happens all the time. It’s worth the extra time to find out the retail price of your property.

The infographic above is a great visual to share if you like. The negotiating part is the hardest. Remember,  you have to sell your home 3 times:  to the buyer, lender and appraiser. Homes prices have not caught up with price increases so you might have to appeal an appraisal and that’s a totally different topic. The points above are valid if you don’t know the real estate market. On the other hand, if you know what your doing, by all means give it a shot!

Here’s a free resource guide for sellers if you’d like to know how to navigate the real estate market.

How June became National Homeownership Month

June is National Homeowners Month

Celebrate National Homeownership Month 

Did you know that June is National Homeownership Month?
And it’s an official national holiday? Who knew?

A Little History

It started back in 1995 during the Clinton administration as a week – long celebration.  In 2002, President George W. Bush made June National Homeownership Month.

Here’s a link to the proclamation.

This is even more important today as our nation is still healing from the real estate bust.  Homeownership encourages personal responsibility and the values necessary for strong families.

It’s a huge responsibility and not everyone should be a homeowner.  The market continues to be demanding and competitive and will remain so for a while.

Taking the time to educate yourself on the financial responsibilities of owning a home is a good place to start.  Finding a great real estate agent to discuss the correct process is imperative in today’s market.

If you’re thinking about buying a home and don’t know where to start here’s a free home buying guide.  It’s deals specifically with today’s market and what you need to prepare for purchasing a home.  It will save you time and money.

Guide to Buying a Home – Spring 2014

It takes time to find and buy the right home.  Don’t ever feel pressured to do something you’ll regret. Coming home to something you own is one of the greatest achievements anyone can attain.

And paying off your mortgage is next. It’s possible to create real estate wealth this way.  This is a great reason for celebrating national homeownership month!

Hot Tuesday: Top 25 DFW areas that are selling fast!

Hotness Factor:  MLS Area Housing Activity Report

Arts District

On the 8th of every month MLS sales are publicly released.  They are reported by anybody and everybody.  And usually people that don’t buy or sell real estate. That’s not a dig, just a fact.

I don’t like these reports for 2 reasons:

  1. The reporting is too early in the month  for the previous month because all the sales data has not been entered.
  2. It gives broad activity of the DFW market not the micro market that we all live in.

One report that isn’t talked about too much is: Sales Closed by Area, Ranked by Hotness.

What is it?

The hotness ratio is pending sales as a percent of active listings.  In other words, where buyer demand is.  It’s put together by the Texas Real Estate Center, a very credible source.

MLS areas target more precise locations and sales activity for buyers & sellers to watch the market.  All properties are entered into the MLS by area, sub area etc.  There are 141 area in the MLS.  So without further ado….

Here’s the Top 25 MLS Areas of Hotness for Single Family

  1. Area 9 The Colony
  2. Area 90 Arlington (Kennedale)
  3. Area 274 GRAND PRAIRIE-NEW 3
  4. Area 88 Arlington SE
  5. Area 124 Grapevine
  6. Area 5 Mesquite
  7. Area 106 FW South (Everman/Forest Hill)
  8. Area 86 Arlington Central SE
  9. Area 23 Richardson
  10. Area 15 Dallas South Oak Cliff
  11. Area 130 FW-Summerfield/Park Glen
  12. Area 120 Bedford
  13. Area 122 Hurst
  14. Area 51 Allen ISD
  15. Area 24 Garland
  16. Area 22 Carrollton/Farmers Branch
  17. Area 53 McKinney ISD
  18. Area 89 Arlington (Mansfield)
  19. Area 121 Euless
  20. Area 50 Wylie ISD
  21. Area 271 GRAND PRAIRIE-NEW
  22. Area 87 Arlington SW
  23. Area 12 Dallas East
  24. Area 127 N Richland Hills/Richland Hills
  25. Area 20 Plano

The Takeaway:

#1 is The Colony, this is where the 121 corridor is being transformed and many businesses and people are moving.   You can also see areas surrounding The Colony are doing well too, Carrollton, Grapevine, Plano. Other Dallas areas are Richardson, Garland, Allen, McKinney, Wylie and East Dallas are all in the top 25. There are 141 areas in the MLS, if you want more information this link will give you the hotness ratio as well as sale, pending sales, days on market, active listings and months inventory of all DFW areas.