Fsbos 2023 info.
February 07,2023 | Posted By Flavia Brown in Real Estate
Selling a home is usually a challenge in any market, but especially in today’s market. Here are a few things for fsbos to consider:
+ Property values in Greater Los Angeles are expected to decline as much as 7% within the next several months.
+ Homes may not sell unless a strong and effective marketing program is utilized. At least, a home won’t sell unless the asking price is reduced to well below fair market value. As most sellers know, it is a numbers game. Thousands of real agents and prospective buyers must be reached in order to sell at the highest price the market will bear and fairly quickly. Also, the longer the property is on the market the less desirable it will be to buyers, and the less chance to sell at the desired price. Buyers will think either there is something wrong with the home, or they will make a lowball offer. Effective marketing includes promoting the home on all major social media platforms, promoting to thousands of Realtors and brokers, and to at least 200 real estate portals and websites).
+ Buyers are holding off, waiting for interest rates and property values to decline. That is more reason to have a strong and effective marketing program that will attract enough buyers and agents. Agents are included because most buyers are represented by Realtors because the good ones know where to find or create good deals, and the service is free because the seller pays the buyer’s broker fee.
+ For homes in desirable locations, like close to the ocean or with breathtaking scenery, the location should be promoted heavily. Example: Unobstructed panoramic ocean view and steps to The Strand (part of the 22-mile long South Bay Bike Trail that winds along the ocean and beautiful beaches). Promoting the location is important because many buyers are from other states or countries.
+ Much time is required to prepare the home for showing, showing the home, studying and analyzing the comps to be sure the asking price is accurate, and hosting open houses.
+ Prepare to evaluate offers and present counter offers.
+ Prepare to deal with contract timelines, seller’s state-mandated disclosures, buyer’s contingencies and removals, negotiating with the buyer over the offer and any needed repairs, and steps toward closing escrow.
NOTE: Your questions and concerns are always welcome, and of course there is no cost or obligation. I like to be helpful.
To your success,
Flavia Brown, Realtor (17 years)
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