6 Reasons Not To Do A Sale By Owner
Here are 6 reasons you should reconsider a For Sale By Owner (FSBO) and let Knot6 list your home:
- FSBOs can’t list their home in the MLS. FSBOs aren’t permitted to put their home in the multiple listing service (MLS) because these industry membership organizations are open only to licensed real estate brokers and agents. FSBOs are also locked out of many home search engines and web sites, including Realtor.com. Sure, a determined FSBO can put a for-sale sign in his or her front yard and run a tiny advertisement in the local newspaper, but the home won’t receive nearly as much exposure as it would using Knot6 Real Estate Services.
- Availability for showings. Because FSBOs don’t have lock boxes, that means the home owner will need to be present for every showing. There are numerous challenges with this situation, the most important of which is safety. Is the person who wants to see your house legitimate or not? Even if you accept an offer from a potential buyer, how do you know whether the person meets the income and credit requirements to close the deal? – Knot6 can help.
- Agents won’t show FSBO homes. In a typical home sale, the buyer’s agent receives a percentage of the commission that the seller pays the listing agent. Without a listing agreement, there’s no guarantee that the buyer’s agent will be compensated for his or her services, unless the buyer has signed a buyer’s brokerage agreement that specifically provides for such compensation. Even if a FSBO offers to pay the buyer’s side of the commission, most agents won’t want to go through a transaction with an unsophisticated, self-represented seller across the table. That means the pool of potential buyers for FSBO homes is limited primarily to unrepresented and probably unqualified prospects. Knot6 will find qualified potential buyers.
- FSBOs usually overprice their home. Like most homeowners, most FSBOs honestly believe their own home is worth more than comparable homes in the same neighborhood. Usually, they’re wrong. A real estate agent can provide an update on market conditions, an assessment of the likely selling price of the home, and tips for improving the home’s buyer appeal. Overpricing a for-sale home is a sure way to deter potential buyers.
- FSBOs are likely to stumble into legal trouble. Real estate transactions are fraught with potential liability for unwary sellers, particularly in states that have extensive disclosure requirements. A FSBO who overlooks even one required form or legally mandated disclosure could face a protracted and expensive buyer lawsuit after the transaction closes.
- Buyers want the savings. Even for those who do search for FSBOs, most buyers automatically deduct 6 percent from the sales price because they want the savings in their pockets, not the seller’s. The result is that many FSBOs end up selling for up to 20 percent less on average as compared with sellers who hire a Knot6 Realtor. – Knot6 Agents are experts in Negotiation!
Testimonials
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James was extremely professional and knowledgeable of the area. Prior to my family and I making our home selection trip, he was able to obtain the info he needed in order to understand what we were looking for. The residence we settled on was highly recommended by James and over a year into our lease, we have no regrets.
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- Dorian Boone
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Amir is a very detailed oriented and thoughtful agent that is focused on his clients needs. I enjoyed the rental tour he organized. I would recommend him to others and will keep him as a contact for when we decide to buy our first home.
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- Nadia Rogers
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Sean was very professional and took the time to consider all of our wants and needs while searching for our new home. He brought great knowledge of the area and demonstrated great patience during our home buying experience. We had a great experience with Sean and Knot6. We highly recommend Knot6.
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- Mike & Sharon Schmidt
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Amir did an outstanding job finding a home for us in the Maryland area. We were relocating from Boston and had no idea what the area had to offer. Not only did Amir provide us with great housing options, but also highlighted where things were located so we knew where to go for our first night out on the town! We will be using his services again when we are ready to buy. Thanks again!
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- Sarah
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Amir did a great job helping me relocate to Baltimore. I was unfamiliar with the city, and felt that he went above and beyond just showing me apartments. I appreciated that all of the apartments I saw were ones that fit the criteria I had asked to see. Amir was very professional and personable and I would highly recommend him.
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- Emily
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Dolores is an amazing agent! She really put in time and effort to learn my housing needs and did a great job finding apartments that fit my needs. During the rental tours Dolores was very attentive and asked great questions to the leasing agents that I would have never thought to ask myself. I truly enjoyed her company during my housing search and she kept my boyfriend and me in a good mood during a very long and exhausting day of apartment hunting. THANK YOU DOLORES!
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- Phally Hour
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We moved to the DC area with very few connections and needed to find a place to rent very quickly. James made the entire experience completely stress free. From the start, he was in touch frequently to learn about our needs as tenants, (size of unit, amenities, parking, etc.) and he spent a lot of time sending us sample listings so that we could have a sense of what was available in the different neighborhoods of DC. When the time came to visit apartments, James set up the perfect amount of appointments so we felt we had a lot of options but were not overwhelmed when making our final decision. We have been in our apartment for 5 months now, and we are very pleased with our choice. James is a fantastic real estate professional, and we will definitely do business with him again when the time comes.
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- Kate & Ken Williams
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Dolores is EXCELLENT!! Very attentive, flexible, and genuinely desires to help you find the right place. Waiting for an opportunity to pass her card to someone in need.
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- Syrina McCray
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James was the best! Without him we never would have found the right apartment, at the right price. He was a pleasure to work with and he understood all of our requirements and helped us find the best space for the best price.
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- Barbara Floyd
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Amir was an excellent rental agent. He made me feel comfortable and gave me excellent options for rent with what I had requested. He is very professional and helpful.
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- Maria Sanfeliz
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I am relocating to Baltimore. I didn’t know the area or where to begin looking for a decent place to live. I was looking for an apartment and I worked with Amir over Memorial day weekend of all things. He wasn’t in a rush and allowed me to go as slow or as fast through places as I wanted. He really looked out for me when it came to asking the right questions And when apartment complex workers would answer in code or lengthy legal nonsense he cut it to laymen terms. I would recommend Amir to anyone he knows the area and knows what he’s doing.
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- Jacob Gerkin
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Nicole is the BEST agent. Very knowledgeable and would not let your family buy any home. I appreciate her positive attitude, guidance, and knowledge in helping my family look for our first home.
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- Crystal Gardner
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Amir is very client focused and exceptional at what he does. I have thoroughly enjoyed working with him and he would be a true asset to any corporation.
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- Charmaine Pocek
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I recently worked with Amir to relocate from Texas to Maryland. He helped me find an apartment with all of the amenities I was looking for, at a great price. He made finding a place to live in a new area a great experience. I would highly recommend working with Amir!
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- Ashley Hathaway
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I give Amir a 10 out of 10!! He was very helpful and patient with me as I searched for a place in the DC market. He provided plenty of potential properties for us to view and assisted throughout the process. If your moving to DC or already live there and are looking for a new place then Amir is DEFINITELY the guy to help. Much appreciated, well done Sir.
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- Kevin B. Perdue
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I have worked with Sean and the Knot6 Real Estate Services team for the past two years in looking for our house. Our move was local and we were very specific in our requirements. Sean added these requirements in the mris data base and sent us daily listings of the houses that met the minimum requirements. If we liked any house from our listing, we would contact Sean and he would arrange for us to see the property. If we liked the house, Knot6 prepared the offer to the seller’s agent. It took us a long time, yet Sean was always available to answer any questions and provided the needed information for us to make informed decision. I would recommend Sean and the Knot6 team to anyone who needs a reliable, friendly and helpful real estate agent.
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- Hukam Garg
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Ms. Dolores Chavez is a result focused and highly competent professional realtor. During my 6 month home search venture with her to secure a home that best satisfies my family’s dream, I found Dolores to be very attentive and quick at figuring out what the client’s home preferences are, has exemplary interpersonal communication qualities and uses a variety of modern communication tools to reach out to clients, emphatic and takes time to clarify issues, very supportive at ensuring choice of home takes into account value for money issues, always motivating the client to anticipate a positive outcome even when there is the feeling it is taking too long, patient and respects appoint times irrespective of adverse weather conditions. Keeps one continuously updated on how the process is progressing and ensuring client has required documents ready on time. She is very comfortable as far as diversity is concerned. Settlement session organized in a very client-friendly manner. I will use Dolores’s services again and again and won’t hesitate recommending her to friends.
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- Christopher Mfornyam
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Michael Doyle sold us a property in October 2010 and I can’t wait to work with him again for our next property. Mike did a great job with showing us homes from turn key to “use your imagination” which is exactly what we asked to see! Responsive and hard working – all you want and need in a agent!
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- April and Scott Novak
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Dolores was so helpful in our home finding process. She is so friendly, knowledgeable and made sure that we were well taken care of throughout the whole process. Dolores is a true professional and was a pleasure to work with. I would highly recommend Dolores!!
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- Paul McKenna
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James helped me with my relocation to Maryland. I knew nothing about the area going into it, but James turned that around quick. After giving James my input on what kind of housing I was looking for, he got back to me with some great options and feedback on the area. He’s always available and very easy to reach. He picked me up, showed me around, and made everything very easy and stress free. He even made a couple adjustments to the tour based on my thoughts during the tour. If you’re looking for someone who is knowledgeable about the area and will make you feel at ease about finding the right place to live…James is your guy! Even after the tour, he wants to keep in touch to make sure everything is going well in your new home.
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- Jason LeBlanc
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I was assigned James as part of a corporate move to MD from TX. He was was easy to talk to, and helped me find the perfect home that fit my needs at the time. I definitely recommend using Jams to help you find your home in the DMV area.
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- James Owens
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James was an essential piece in our house hunting trip and decision making. His communication, responsiveness, support and quality of work really were really good and we are very pleased with his service.
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- Wanda Cintron
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