FSBO: Why Agents are Worth MORE Than What You Pay Them

Why 'For Sale by Owner' Doesn't Save you the Commission

Since hiring a  professional real estate agent to sell a home became a popular, sellers have been trying to sell their homes themselves to save the commissions that agents charge.

In many situations, a full time real estate agent will charge a 6% commission as a brokerage fee to assist a homeowner in selling their home. Brokers often make an offer of half of their listed commission to other real estate agents to bring their buyers and ultimately purchase the home.

But do homeowners really save the 6% commission?
A seller must put themselves in a buyer's shoes to fully understand the big picture. A home buyer who sees the "For Sale By Owner" sign in the yard, they too understand that the home seller is not paying a commission to an agent. The buyer feels like since there is no commission being paid that they too can save some money if they purchase this home. Both parties can't save 6% commission so usually the buyer and seller end up negotiating for the savings.

Experience and Costly Mistakes
Homeowners likely sell a home 6 or 7 times in their lifetime. A good professional real estate agent sells somewhere around 30-50 houses per year. The average homeowner will make mistakes that a professional will not make. Lack of experience with negotiations, inspections, title issues, qualifying the buyer, and other hurdles can certainly cost the seller thousands.

Maximum Exposure & Time = Money
Real estate professionals have tools at their disposal such as the MLS (multiple listing service) and other technological marketing tools to generate traffic to your home. What's more is that agents have relationships with other agents in the market that represent buyers who may be interested in a home like yours.

Having these tools, agents are likely to sell your home much faster than you may be able to. Some FSBOs might say "So what? I don't have to sell fast to get top dollar." Math doesn't lie. If you have a mortgage on a home, you make an interest payment on your home mortgage. Interest is the cost of borrowing money and a cost that you cannot get back. Every month that goes by that you do not sell your home, you pay added interest that you will never see back.

The average days on market for a good agent are under 30 days, therefore a good agent will have your home sold and you can save added interest on your mortgage. FSBOs usually try to market their home themselves for 30-60 days before listing with an agent. By waiting, the homeowner has lost whatever interest they have paid on the mortgage.

So what should a homeowner do?
It is a difficult concept to grasp. It is easy to think that not paying a commission will save you more money than you can make on your own. However, less than 3% of homeowners are able to sell their home without the help of a real estate agent and 85% of FSBOs eventually list and sell with a Realtor.

A smart homeowner will find a fantastic Realtor that sells at least 40+ houses per year and has experience in the area where their home is. Interview this agent and ask difficult questions about what will that agent do to get the home sold. Work on a detailed plan to market and sell the home with the agent and listen to their advice when they give it to you.

If you are looking for the right agent to call, my contact information is below. Together, we can discuss the marketing plan that will get your home sold and you moved on to your new home.

Aaron Smith
Greater Cincy Homes
859-360-9997
greatercincyhomes.net

Special Loan Program for Cincinnati & Northern Kentucky Doctors

Special Financing for Physicians in the Greater Cincinnati & Northern Kentucky Area

Whether you just passed your boards or whether you have been in practice for years, when you are buying a home in Cincinnati you have options when it comes to financing.

Are you a Resident, Fellow, or New Physician?
Are you currently in residency or set to begin new residency within 90 days of the closing date OR scheduled to complete medical residency/fellowship and under contract to work within 90 days of the closing
date OR have commenced work within the last 12 months with a hospital, physician group?

You may be able to get financing up to 100% of the home value on a new purchase, up to $500,000 or 95% up to $1 million.

Established in Medicine?
Are you a licensed doctor who has been employed as a non-Intern/Resident/Fellow for at least 12 months
by a hospital or physician group or self-employed for at least 2 years as an MD or DO?

You may be able to get financing up to 100% of the home value on a new purchase up to $650,000. Or refinance a 100% loan-to-value up to $650,000, 90% up to $1 million, or 85% up to $1.5 million.

For more information about the Physician's Loan Program, call Aaron Smith with Greater Cincy Homes at 859-360-9997 or send us a message at GreaterCincyHomes.net.

Florence, KY Real Estate - Homes For Sale

Greater Cincy Homes is dedicated to providing you with a hassle free real estate buying experience. Our agents are on call to ensure that all of your questions are answered whether buying or selling.

 

Use our search feature below to find homes for sale in Florence, KY.

 

 

Are you thinking about selling your home in Florence, KY? Allow us to do a FREE home value analysis on your home. Get your Florence, KY home value now!

Lakeside Park Homes for Sale

 

 

Lakeside Park, a city of 2,869 residents was selected as the 2nd most livable city in all of Greater Cincinnati and Northern Kentucky in 2000. There were 31 homes sold in 2011 in Lakeside Park (according to the Northern Kentucky MLS). The average home sales price for residential was $220,252 with the median sales price at $175,000. The average time it took a home to sell in Lakeside Park in 2011 was between 81-119 days.

Houses in Lakeside Park vary in style and age and for the most part most of the neighborhood have been established for some time. Lakeside Park is divided by Dixie Highway (US HWY 42 / 25). The city is home to Barleycorns Restaurant's 5 Mile House located at the intersection of Turkeyfoot Rd and Dixie Hwy.

Search homes for sale in Lakeside Park, KY

2011 Home Sales Statistics
Lakeside Park, KY 41017

Average Sales Price	$220,252
Median Sales Price	$175,000
Average Days on Market	81-119
Total Homes Sold	31

834 Park Avenue, Newport, KY - For Sale $245,000

Located in Newport Kentucky's coveted east row historic district lies an opportunity to own a home with old world charm and all of the modern updates. Located near the intersection of Park Avenue and Ninth Street in Newport, this home was completely renovated by its current owner and brought back to life with pride and care.

Built in the 1800s, this home exhibits characteristics that are not found in modern architecture. Structurally, the home is all brick and has been properly insulated to maximize comfort and efficiency. From the street, the entry is through the side porch into an open entry way with a versatile first floor that allows for many different room arrangements.

View detailed information and photos for 834 Park Avenue, Newport, KY. Other listings in Newport's East Row Historic District can be viewed here.

Newport Historic District

The first floor is home to a large spacious bedroom, wonderful bathroom with heated marble tile floors and an elegant claw-foot bath tub. The bathroom ceilings have been raised to 10' and trimmed to show the elegance and history of this beautiful home. Notice the custom tile work, vessel sink, and antique vanity in the bathroom photos below.

  

The second floor is where the master bedroom is, currently. The second floor also has the newly updated kitchen with exposed brick and ceramic tile floor. The second floor bathroom is just as unique as the first floor bathroom. Exposed copper piping with slate tile line the walls and floors. The large bedrooms and high ceilings give this home a feeling of grandeur and historical importance.

  

The top floor of the home is a bedroom in and of itself. Large and contemporary, the room currenly has a sound proof room for recording music, a 9' projector screen with projector.

834 Park Avenue Photos

This home was SOLD by Greater Cincy Homes with Keller Williams Realty Services.

859-513-4787

2216 Dixie Hwy, Ste 100

Fort Mitchell, KY 41017