It is a tempting thought, isn’t it? With inventory so low and prices on the rise, you may have visions of extra cash from not paying commission dancing in your head. But will that actually be the end result if you try playing the role of South Lake Tahoe realtor? Likely not and here is why.
1. You don’t have the exposure a South Lake Tahoe Realtor has.
Unfortunately, you can’t just put a sign up in the yard of South Lake Tahoe real estate and expect it to move like the good old days. Technology has advanced so much that a multi faceted marketing plan is necessary for selling a home for sale in South Lake Tahoe. This is something that an un-licensed non realtor just doesn’t have access to or even know where to start. Nowadays, results comes from the internet thanks to 94% of buyers using online as a search tool. In fact, 51% of buyers that actually made a purchase (as in, did more than just search) found the home on the internet. 34% found their home from their South Lake Tahoe realtor and only 8% found their home from a yard sign. The remaining 1%? The newspaper. In order to get a home for sale in South Lake Tahoe the exposure it needs, it starts with the local Multiple Listing Service. This is a tool for local licensed Realtors to list their seller’s South Lake Tahoe real estate. It includes all the necessary info that a buyer would use for their search criteria AND it is fed to websites all around the globe. When you “For Sale By Owner”, you simply do not get the exposure that a South Lake Tahoe realtor will get you.
2. There are a LOT of negotiations.
When you get an offer on South Lake Tahoe real estate, you aren’t simply negotiating with the buyer. Not at all actually. In addition to the buyer, you have their realtor (who’s best interest is not you), the home inspector (also working in the best interest of the buyer), the appraiser (who is working in the best interest of the bank) and possibly an attorney. These are factors that are present regardless, but in our current market things can get a little more tricky. Why? Two words: Multiple Offers. If your real estate in South Lake Tahoe is priced appropriately, you could get multiple offers. Which means you would be reading through multiple contracts trying to figure out which one is best for you. When you have a Realtor in South Lake Tahoe representing you, they see the offers first, which means they can review it and break down which one is the best offer for your current circumstances.
3. FSBOing is WAY more difficult compared to year’s past
Speaking of paperwork, if you thought selling a home for sale in South Lake Tahoe was a simple contract, you would be wrong. Mandatory industry disclosures and regulations have dramatically increased the amount of paperwork that is involved in the process. So much so that For Sale By Owner’s has dropped down to just 8% over the course of the past couple decades.
4. You get more money when you use a Realtor
What you think you will save in commissions can usually be covered by how much extra you get when you use a qualified Realtor in South Lake Tahoe. This is the main reason that most people decide to FSBO. They want that extra money in their pocket. However, studies have shown that those that decide to list their home for sale in South Lake Tahoe on their own usually make about $60,000 less compared to what a Realtor in South Lake Tahoe will get them. Of course every property is different and that is on a national average, but with how hot the local real estate market is, you do not want to leave any extra money on the table.
If you are thinking of listing, give me a call. I can give you the current market value for your home based on comparable sales in your neighborhood.
