Advice for FSBOs from a Real Estate Attorney

sebfreyCommentary, For Sale By Owner


I have been a member of Quora for some time now, but like a lot of sites I join, I haven’t participated much. But lately I’ve been spending more time on the site, and I came across a Quora question asking if real estate agents will become obsolete. Since real estate agency is my bread and butter, I started reading the thread. There’s a variety of perspectives on this, but one reply I found particularly interesting, written by a former real estate attorney, which read in part: In addition to the inherent complexities of even the most run-of-the-mill real estate transaction and the tremendous financial stakes involved, real estate transactions are emotional.  You’re not dealing with a lawn mower, a refrigerator, or some other fungible good, you’re dealing with someone’s home–a place where the seller’s memories were made and where the buyer wishes to make new ones.   This is a highly personal transaction, and the potential for doubt, insecurity, second-guessing, mistrust, defensiveness, cold feet, confusion, paranoia, and, therefore, conflict is extremely high.  The role of realtors throughout this process is invaluable. Go ahead and read the whole reply, or even read the whole thread (although it’s kind of long).  I found it very interesting because often times the debate about the value of Realtors centers around marketing, and how today a For Sale By Owner (FSBO) can do so much marketing on their own, further diminishing the value of having it handled by a professional.  While professional marketing is very important, the value of an agent in terms … Read More

What you Need to Know When Selling your Home

Seb FreyCommentary

What's Important to Know

Do you know what you need to know when selling your home? You may know some of it – but contains information on literally every aspect of the home selling process. Every homeowner needs to know certain information when selling their house. First, how much is your home worth in the present market? It’s crucial to have a realistic understanding of your home’s present market price before you do anything else, as knowing this will set the direction of every step you take after that. Once the current market price is known, the next question is, what cost-effective things can be done to increase that price? You see, it might be that just a few changes to your home may increase the bottom line when you sell. Depending on your home, it’s not unreasonable to expect you could enhance it’s resale price by 5 or 10% in the eyes of buyers with some smart tweaks and improvements. Another important question homeowners need to ask is how long will the home take to sell? Will you be able to buy a new home right away, or will you have to wait for your current home to sell first? The cost of selling a home is another important factor. How much will the whole process really cost? Or, looking at it another way, how much will you walk away with after the sale closes? Another common question is, should you try to sell the home yourself and save the commission, or should you use a real estate … Read More