Thinking of selling your home in Kansas City?
Now could be a great time—interest rates are still low, and mortgages are more accessible to buyers than they’ve been for a long time. Even better—the housing inventory for homes that are not short-sales or foreclosures is very low. Selling your own home, instead of using a Realtor for the transaction, can save you some money. It’s not for everyone, but if you’re up for the task, we’re don’t mind to guide you through it.
KC Property Guys has bought, sold and assisted sellers with their homes for the last 3 years. As an investment firm with full time, dedicated real estate professionals on staff and four rehab crews working to revitalize our homes from demo all the way to the SOLD sigh and handling contract resolution work for buyers and sellers, we have learned a lot. During that time, the housing market has been strong and so is our business. We have learned a lot about the psychology of home buyers, the most effective marketing techniques for selling a home and the legal pitfalls that can happen during the course of a real estate transaction. We have learned a few secrets here and there… and we are here and willing to share these tips and secrets with you.
Should You Sell Your Home Yourself?
Selling your home on your own might not sound so difficult. After all, Americans are unafraid to take on new challenges. We learn basic plumbing skills to fix the leak in the sink. We learn how to trim our kids’ hair. We change our own oil, fertilize our own laws, tile our own bathrooms. Sometimes this works out well—we save a buck or two. Other times, we end up taking our kids to the hairdresser to fix the crooked hack job we committed in the name of frugality.
Should you sell your own home? The answer is… maybe. If the market is right, you’re not in a huge rush to sell, you’re practical, do your homework and stay focused, organized and diligent throughout the process, you might do well. On the other hand, if you’re not up for the task, selling your home without a realtor might not be the best idea.
Will You Really Save Money?
Listing your home with a Realtor will typically cost you around 6% of the sales price. For a home worth $250,000, that’s $15,000—a fair chunk of change. Selling on your own will save you at least half of that commission (if your buyer comes in with a Realtor, you will probably have to pay 3% or so to that person). So, you may save some money.
Then again, you may not. Savvy buyers know about the 6% Realtor commission. Unless you’ve already priced your home below market value, they may automatically offer 6% less, based on the fact that there aren’t any Realtors involved. Frankly, they have a valid argument. If the exact same home down the street is priced at $250,00 also, but is listed with a Realtor, that seller will receive $235,000. Why should you receive more for your home?
What typically ends up happening is that you discount the price of your home by 6%. Which means that you’re making the same amount of money as you would when listing with a Realtor, but you’re doing all the work of selling your home yourself.
How Are Your Negotiation Skills?
The National Association of Realtors reports that people who sell their own homes typically receive 10-20 percent less than those who list with Realtors, mainly because many sellers don’t have the skills to negotiate the best contract. While the NAR certainly has a stake in that kind of survey, you might want to take an honest look at your skill set before you assume that you’ll save money by selling yourself.
Can You Be Brutally Honest With Yourself?
When you list with a KC Property Guys, we come into your home, look around, and make recommendations about what you need to do in order to get the highest offer possible. We have a lot of experience with buyers and their preferences. We aren’t emotionally connected to your home, so they can see it with unbiased eyes. We simply know what sells and most importantly, we have the resources to get it done from routing maintenance to installing granite and fixing foundations, KC Property Guys can get your home in tip top shape to attract the highest bids for your home.
Can You Leave Emotion Out of the Negotiation Process?
Speaking of being emotionally connected, this can be a real drawback when selling your home yourself. You have a lot of memories tied up in your home—bringing home your first child, making snowmen in the yard, marking your child’s height in the doorway every year when school starts. It’s difficult to look at your home from a strictly financial perspective. This can bite you during negotiation.
Real estate is a financial asset, much like your 401k and stocks. But you’re not really emotionally connected to your 401k, are you? When selling your home, you absolutely must maintain an emotion-free attitude… or you’ll lose money.
KC Property Guys – One Stop Easy Button for Kansas City Investment and Real Estate
KC Property Guys – www.TheKCPropertyGuys.com – Kansas City Investment and Real Estate provide quick close cash options for Kansas City Homes and Assist to Sell – equity financed home improvements for those needing home improvements prior to selling. KC Property Guys covers costs for improvements prior to selling. Contact us for details .