December 19, 2018

For Sale By Owner

As in past memos I always reference the homes in Sugar Land and the Sugar Land Real Estate market I live and work in. Our market is not that bad, it’s not great but not bad. Today I called a for sale by owner. I know the area where the home is located very well and I am familiar with all of the floor plans. This is my 29th year in Real Estate and I hope that  have learned a thing or two. The first question that I asked the owner was the asking price.  Normally I introduce myself as an agent and ask if they will pay a commission to me if I bring a buyer. This time I wanted to see how a seller responded to a prospective buyer’s phone call. The seller told me the price. There was a pause (I was waiting for the seller to pick up the ball and elaborate about their fabulous home) then I asked how many bedrooms did the home have. The owner responded with 3 bedroom and a generous 2 bathrooms. Every house in that neighborhood has at least 2 baths. Then I asked about the square footage. The owner promptly answered that one. I told the owner that I was working with an agent. The owner told me they were not working with realtors. I told the owner that my Realtor had spent a lot of time with me and had put out a considerable amount of effort. The owner told that I had to make a decision. I thank the owner for their time and left it there. I realize that I am bias but there were a number of things they are doing that are not in their best interest. When selling your house the purpose is to sell your house.  The number one thing to consider is how do I sell my house. You have to consider all options and evaluate those options. If you eliminate a large portion of your options you may be cutting yourself short. You may sell it yourself and be fine or not. The solution is to incorporate all of your options. Raise the price if an agent calls you. This will  offset  their fees. There is nothing illegal or unethical with doing this. There are “one time” type agreements that you can sign with an agent. Everything will be handled in a professional manner and that will minimize risks. It just makes sense, don’t minimize, maximize your potential.

Until next time,

Matt