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Here’s 4 Reasons Why You Shouldn’t Sell Your House Yourself

Here’s 4 Reasons Why You Shouldn’t Sell Your House Yourself

If you’re even remotely considering selling your home, then no doubt the thought of selling it on your own (fisbo style), has at least crossed your mind.  How do I know this, because every homeowner across this great country has done the same thing when they decided to sell.  It’s in our nature to fend for ourselves, to hold onto any equity that we can rather than just give it away to a realtor that may not be able to get your home sold for the amount originally agreed on anyway.

Think of this though, if a seasoned realtor can, at times, have difficulty moving their inventory, what makes you think that you have what it takes to get the job done on your own?  Here’s a few compelling reasons why you should seriously re-consider not selling your house yourself.

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You Don’t Know What You Don’t Know

Most homeowners that decide to sell without the services of a licensed broker are treading murky waters.  The truth is that even though we live in the information age, finding out what what your home is worth is not not just as easy as heading over to Zillow or Trulia and entering your address.  Part of the value that realtors bring to the table is their access to their local board’s MLS data.

Every realtor in your city that sells a home that is listed on the MLS is required to enter all sales data for that transaction within days of the sale.  This means that realtors can accurately see the breadth of the market as well as accurately determine the the current value of your home in merely minutes.  Fact is, that unless you cough up money for a formal appraisal, you may not know what your home is truly worth.

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You Won’t Get Enough Market Exposure

It’s sad when I spot a FSBO sign in a front yard while driving through a neighborhood; cause I know that chances are that the sign I just saw is the only form of marketing that homeowner is doing.  What the home owner doesn’t realize is how many buyers need to see that sign in order to actually produce a serious, ready, willing, and able buyer.

The number could be in the hundreds, and I promise you that the number of actual qualified buyers that drive by that house will be very few.  Even if you’re home happens to be located in a popular city like San Antonio or San Diego where investors are buying houses with cash, they may not even know that you’re home exists.

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In my experience, most of the “pre-qualified buyers” are already represented by agents, that are off viewing houses that they were shown to by their agents.  Agents only look on the MLS when trying to find homes for their buyers, so if your home isn’t listed in there, then you’ve just removed a very large pool of available buyers.

Marketing on third party real estate websites like Redfin or Zillow can offer greater exposure of your home, but be prepared to get a lot of tire kickers and “unqualified” buyers contacting you.

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Your Inexperience Could Cost You

How many times have you negotiate closing costs, sales price, or even repairs with a home buyer?  I’d bet you can count them all on one hand.  Like it or not, most real estate agents have much more experience in the industry than you will ever have, and in real estate, inexperience can translate into financial losses.

Why?  Cause some real estate agent’s are constantly educating themselves to be better at their job; negotiating on behalf of their clients.  They work hard to obtain certifications such as the certified negotiations expert designation.  If a buyer is more well-versed than a lone ranger seller on how & when to properly negotiate items in a real estate transaction, then potentially thousands could be at risk.

Time Is Money

Before taking the leap to sell by owner, in order to save the 6% commission, try calculating what your time is worth in dollars.  Then, estimate how many hours you’ll realistically need to work to get your house sold.  If you’re time is worth anywhere close to what mine is worth to me, then that 6% commission sure starts looking more attractive.

To Sum It All Up

Sure, it’s possible to sell a house without using an agent, but if you should decide to forego hiring a professional to help you, then don’t be deceived into thinking that you’re actually saving a lot of money. There’s a good reason why 85% of home owners listed with a real estate agent when selling their home.  When counting the true costs of selling fsbo, you could end up on the loosing end of the equation.

More by this author

James Vasquez

Real Estate Investor

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Last Updated on January 21, 2020

The Best Way to Create a Vision for the Life You Want

The Best Way to Create a Vision for the Life You Want

Creating a vision for your life might seem like a frivolous, fantastical waste of time, but it’s not: creating a compelling vision of the life you want is actually one of the most effective strategies for achieving the life of your dreams. Perhaps the best way to look at the concept of a life vision is as a compass to help guide you to take the best actions and make the right choices that help propel you toward your best life.

your vision of where or who you want to be is the greatest asset you have

    Why You Need a Vision

    Experts and life success stories support the idea that with a vision in mind, you are more likely to succeed far beyond what you could otherwise achieve without a clear vision. Think of crafting your life vision as mapping a path to your personal and professional dreams. Life satisfaction and personal happiness are within reach. The harsh reality is that if you don’t develop your own vision, you’ll allow other people and circumstances to direct the course of your life.

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    How to Create Your Life Vision

    Don’t expect a clear and well-defined vision overnight—envisioning your life and determining the course you will follow requires time, and reflection. You need to cultivate vision and perspective, and you also need to apply logic and planning for the practical application of your vision. Your best vision blossoms from your dreams, hopes, and aspirations. It will resonate with your values and ideals, and will generate energy and enthusiasm to help strengthen your commitment to explore the possibilities of your life.

    What Do You Want?

    The question sounds deceptively simple, but it’s often the most difficult to answer. Allowing yourself to explore your deepest desires can be very frightening. You may also not think you have the time to consider something as fanciful as what you want out of life, but it’s important to remind yourself that a life of fulfillment does not usually happen by chance, but by design.

    It’s helpful to ask some thought-provoking questions to help you discover the possibilities of what you want out of life. Consider every aspect of your life, personal and professional, tangible and intangible. Contemplate all the important areas, family and friends, career and success, health and quality of life, spiritual connection and personal growth, and don’t forget about fun and enjoyment.

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    Some tips to guide you:

    • Remember to ask why you want certain things
    • Think about what you want, not on what you don’t want.
    • Give yourself permission to dream.
    • Be creative. Consider ideas that you never thought possible.
    • Focus on your wishes, not what others expect of you.

    Some questions to start your exploration:

    • What really matters to you in life? Not what should matter, what does matter.
    • What would you like to have more of in your life?
    • Set aside money for a moment; what do you want in your career?
    • What are your secret passions and dreams?
    • What would bring more joy and happiness into your life?
    • What do you want your relationships to be like?
    • What qualities would you like to develop?
    • What are your values? What issues do you care about?
    • What are your talents? What’s special about you?
    • What would you most like to accomplish?
    • What would legacy would you like to leave behind?

    It may be helpful to write your thoughts down in a journal or creative vision board if you’re the creative type. Add your own questions, and ask others what they want out of life. Relax and make this exercise fun. You may want to set your answers aside for a while and come back to them later to see if any have changed or if you have anything to add.

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    What Would Your Best Life Look Like?

    Describe your ideal life in detail. Allow yourself to dream and imagine, and create a vivid picture. If you can’t visualize a picture, focus on how your best life would feel. If you find it difficult to envision your life 20 or 30 years from now, start with five years—even a few years into the future will give you a place to start. What you see may surprise you. Set aside preconceived notions. This is your chance to dream and fantasize.

    A few prompts to get you started:

    • What will you have accomplished already?
    • How will you feel about yourself?
    • What kind of people are in your life? How do you feel about them?
    • What does your ideal day look like?
    • Where are you? Where do you live? Think specifics, what city, state, or country, type of community, house or an apartment, style and atmosphere.
    • What would you be doing?
    • Are you with another person, a group of people, or are you by yourself?
    • How are you dressed?
    • What’s your state of mind? Happy or sad? Contented or frustrated?
    • What does your physical body look like? How do you feel about that?
    • Does your best life make you smile and make your heart sing? If it doesn’t, dig deeper, dream bigger.

    It’s important to focus on the result, or at least a way-point in your life. Don’t think about the process for getting there yet—that’s the next stepGive yourself permission to revisit this vision every day, even if only for a few minutes. Keep your vision alive and in the front of your mind.

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    Plan Backwards

    It may sound counter-intuitive to plan backwards rather than forwards, but when you’re planning your life from the end result, it’s often more useful to consider the last step and work your way back to the first. This is actually a valuable and practical strategy for making your vision a reality.

    • What’s the last thing that would’ve had to happen to achieve your best life?
    • What’s the most important choice you would’ve had to make?
    • What would you have needed to learn along the way?
    • What important actions would you have had to take?
    • What beliefs would you have needed to change?
    • What habits or behaviors would you have had to cultivate?
    • What type of support would you have had to enlist?
    • How long will it have taken you to realize your best life?
    • What steps or milestones would you have needed to reach along the way?

    Now it’s time to think about your first step, and the next step after that. Ponder the gap between where you are now and where you want to be in the future. It may seem impossible, but it’s quite achievable if you take it step-by-step.

    It’s important to revisit this vision from time to time. Don’t be surprised if your answers to the questions, your technicolor vision, and the resulting plans change. That can actually be a very good thing; as you change in unforeseeable ways, the best life you envision will change as well. For now, it’s important to use the process, create your vision, and take the first step towards making that vision a reality.

    Featured photo credit: Matt Noble via unsplash.com

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