2020 was certainly a different year in many ways – for all of us. That said, professionally it was a banner year for me. Thank you to all of you who trusted me with helping you purchase or sell a property. It turned out to be a fantastic year in terms of real estate sales. As Fifth Runner up for Top Producer, I owe my success to all of you! Thank you!
Andria Allen
Recently, I have not met many Sellers trying to market their homes on their own. However, there are still For Sale By Owners or FSBOs. I thought I’d share the article below for your information. If I can help you with the sale of your home, give me a call.
~Andria Allen 303-810-8375
FSBOs Make (Way) Less Than They Expect
Source: REALTOR® Magazine
You’ve heard of buyer’s remorse; but without your market expertise and sales skills to back them up, sellers who choose to sell their home on their own just may experience “seller’s regret” when they see how much less they get for their properties. FSBOs earn an average of $60,000 to $90,000 less on the sale of their home than sellers who work with a real estate agent, according to the National Association of REALTORS®…Read More
Posted in Housing Market, Real Estate Agents
It’s been a whirlwind year for real estate in our area. You might think with homes selling within hours to days, more sellers would use a discount broker or For Sale By Owner. However, this has not been the case locally or nationally. Realtors offer a wide range of services, including helping you price your home correctly, and helping you obtain the highest amount for your home. On the buyer side, realtors also help you present a competitive offer in this difficult market for buyers. The statistics in the article support this information.
If I can help you with you with real estate needs, please give me a call.
You might think that the Internet and today’s seller’s market is coaxing an unusually large share of homeowners into selling without an agent.
And for those homesellers who list with agents, you might guess that they’re favoring the limited-service variety — commonly referred to as “discount agents” — more than ever.
But you’d be dead wrong on both counts, according to figures released by the National Association of Realtors (NAR).
Source: NAR
The share of recent home sellers who sold with an agent remained at a record high of 89 percent in the last year, and a record-high share of those professionals provided a broad range of services, rather than a more limited set, NAR reported in the 2016 edition of its annual “Profile of Home Buyers and Sellers.”
As agent popularity soared, f0r-sale-by-owner (FSBO) sales scraped along at an all-time low of 8 percent of all sales.
That’s the same level NAR reported in 2015, down from 12 percent in 2006 and 15 percent in 1981, the year NAR began tracking FSBO marketshare.
Anemic housing inventory and the spread of technology also apparently haven’t given a boost to agents who put more of the work in a seller’s hands, typically in exchange for a below-market fee.
A record eighty-three percent of recent home-sellers worked with an agent who provides a “broad range of services and management of most aspects of a home sale.”
That’s up from 79 percent in NAR’s 2015 report and tied with the all-time high reported by NAR in 2006, the first year it began tracking marketshare of broker service types.
Only nine percent of agents listed a home on the multiple listing service (MLS) “and performed few if any additional services” in the last year, while just eight percent provided “a limited set of services as requested by the seller,” according to NAR.
Buyer’s agents are flourishing in the digital age as well.
Nearly 88 percent of recent homebuyers purchased a home through an agent, up from 87 percent in 2015 and down just 1 percentage point from record highs of 89 percent in 2011 and 2012.
Article by Teke Wiggin
Whether you are buying or selling a home, you need an experienced Real Estate Professional to lead you toward your ultimate goal. In this world of instant gratification and Internet searches, many sellers think that they can For Sale by Owner or FSBO.
The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but rather have been strengthened in recent months due to rising interest rates & home prices as the market recovers.
1. What do you do with all this paperwork?
Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality.
2. Ok, so you found your dream house, now what?
According to the Orlando Regional REALTOR Association, there are over 230 possible actions that need to take place during every successful real estate transaction. Don’t you want someone who has been there before, who knows what these actions are to make sure that you acquire your dream?
3. Are you a good negotiator?
So maybe you’re not convinced that you need an agent to sell your home. However, after looking at the list of parties that you need to be prepared to negotiate with, you’ll realize the value in selecting a Real Estate Professional. From the buyer (who wants the best deal possible), to the home inspection companies, to the appraiser, there are at least 11 different people that you will have to be knowledgeable with and answer to, during the process.
4. What is the home you’re buying/selling really worth?
Not only is it important for your home to be priced correctly from the start, to attract the right buyers and shorten the time that it’s on the market, but you also need someone who is not emotionally connected to your home, to give you the truth as to your home’s value.
According to the National Association of REALTORS, “the typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales.”
Get the most out of your transaction by hiring a professional.
5. Do you know what’s really going on in the market?
There is so much information out there on the news and the Internet about home sales, prices, mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to, to tell you how to competitively price your home correctly at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low-ball offer?
“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.” – Dave Ramsey
Hiring an agent who has their finger on the pulse of the market will make your buying/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.
Bottom Line:
You wouldn’t hike up Kilimanjaro without a Sherpa, or replace the engine in your car without a trusted mechanic, why would you make one of your most important financial decisions of your life without hiring a Real Estate Professional?
Well, interesting you should ask. I know many of you called me due to a referral from a friend, from another property I listed near you or from my advertising. Here’s what the statistics show:
1. How Sellers Found their Real Estate Agent. 61% of sellers found their real estate agent either through a referral or by using someone they had used before. This speaks volumes about the importance of staying in touch with past buyers and sellers and consistently working a Sphere of Influence for referrals. “Out of Touch = Out of Mind” is a phrase worth remembering.
2. How Buyers Found Their Real Estate Agent. The Top Five: 40% were found by referral; 11% came from an Internet website; 10% had used that agent previously; 6% got the agent’s name from a sign; and 6% found their agent at an Open House. These five sources account for 73% of all buyers, and they haven’t changed much in the past five years.
3. Top 3 Websites Buyers Used to Find a Home. These were: MLS 54%; REALTOR.com 51%; and real estate agent’s website 47%. It pays to enhance a listing whenever you can to separate your listings from the HERD listings. This can easily be done by furnishing all of the information requested and providing a “full-motion” video.
If you know of someone who is thinking about buying or selling a home this year, please give them my name. Of better yet, if you’re comfortable doing so, give me their name and number. I’ll call them directly.
This is going to be a great year to sell property due to low inventory, low interest rates and slightly increasing property values.
It’s also a good year to buy as interest rates are creeping up as are property values.
Let me know how I can help you or someone you know!!
Andria Allen
Andria Allen 