HAVEN Realtors

Last Sunday, I conducted an improvised poll by calling people who sell “By Owner” just to see how quickly sellers respond. I have made 20 calls and in 14 cases nobody was there to pick up the phone. If I were a buyer or a buyers agent, 70% of the seller would have missed a chance. So, the first question: who’s supposed to sell your home? Your voicemail?

When you are selling your home in this market, you have to understand that Buyer is the absolute King! Yes, some of them will leave you a voice message but by the time you call them back there is a good chance that potential buyer has already forgotten what your home looks like and where it is. Because you are not the only seller in your area.

What about real estate agents showing homes to buyers? To start with, if your home is not listed on the MLS, the chance of getting a call from an agent who really has a potential buyer and not just a listing pitcher, is fairly remote. And, if you are not there to answer the call, the agent will most likely move on because he/she has 10-20 more homes to show to his/her clients. Still, a chance for an agent to earn a commission and one less chance for you.

You MUST be easily reachable! Because, if you are not there, your neighbor will be.

More wisdom to follow.

Technorati Tags: for sale by owner, selling a home, fsbo

Metro Detroit now leads the nation in the number of foreclosures, according to some estimates. If you are a homeseller this should be alarming for you because it means that soon hundreds and hundreds of new properties - owned by banks - will be put on the market. Many of them at unbelievably low prices because banks’ main concern is to get back the amount of money they’re owed, not necessarily to sell those properties at the market value.

I remember my trip up North last August. Usual itinerary: Petoskey, Bay Harbor, Harbor Springs. There, it looked like the entire streets were up for sale. I only wonder what it looks like further North, in the Upper Peninsula.

Again, this stuff must be alarming to you if you have your home listed with a broker. It must be 10 times more alarming to you if you’re still trying to sell “by owner” thinking you’ll save money. Think again. Because most likely you’ll lose. “I am in no hurry to sell” - I hear from the homeowners who think they know it all. Well, if you are in no hurry then why have your sing up? Take your property off the market and wait it out untill the market gets back on track.

The truth, dear homeowner, is that you DO WANT to sell or, worse, you HAVE to sell. And when you say you’re in no hurry, whom exactly you are trying to convince: me or yourself?

Only handful of homesellers can really afford to “wait and see” - their homes are clear, they have no debt, only property taxes. Are you one of them? If you are, then good luck. If not, you and I need to talk. Really. As soon as possible. Because both you and I want to make at least some money in this market. Because I’ve seen people like you telling me their tales, arguing with me, telling me they’re all set because their neighbor Jim just sold his house FSBO in a week… Then later realizing things aren’t what they seemed to be, looking at my card but being simply too embarassed to call for help. Many of them ended up either bringing check to a closing (best case scenario) or slipping into foreclosure because it turned out they’d borrowed more than their house is now worth or they’d bought more house than they can afford.

If you, dear homeseller, had only listened, I would have given you many useful advices - the ones that usually save you money. But, unfortunately, many homesellers want (and sometimes think they’re entitled) to pick our brains for free. You know that old saying about free cheese, right?

And, by the way, have I ever said the word ”commission”?

More wisdom to follow…

Happy Thanksgiving to everybody from HAVEN!

HAVEN Realtors is a real estate broker practicing in Michigan and based in the Metro Detroit area. It was established to provide consumers of real estate services with a broader choice when it comes to selection of the services and compensation to a broker for providing them.

HAVEN Realtors is a discount broker and DOES NOT list properties on the ”full service” basis (such listings almost always include an Exclusive Right To Sell Contract and 5%-6% commission).

Although always happy to individually consult real estate Sellers and Buyers, HAVEN Realtors DOES NOT practice Buyer’s Agency. This allows us to avoid confusion, complexities and liabilities of Dual Agency and Buyer’s Agency. It is our practice to always refer buyer clients to a full service real estate broker.

For more information about HAVEN Realtors, our Services, Fees etc., please visit our website.