Marietta, Georgia -
Georgia-based cash home buyer Mandich Property Group is helping the state’s homeowners make FSBO sales that help them save money on realtors’ commissions.
FSBO (For Sale By Owner) refers to properties that are currently on the market without being represented by a licensed real estate agent. When selling a house by owner, the complete process including listing, staging, marketing, negotiating, and the legal transfer of the property is all handled by the homeowner. Many property owners find FSBO sales appealing because of the prospect of saving a significant percentage, sometimes as high as 6%, of the home’s selling price which is paid out as a commission.
In a blog post published on its website, Mandich Property Group begins by reminding that homeowners, if they decide to not hire a real estate agent, must be proactive in taking over the agent’s responsibilities. The first step is to clean the home thoroughly so that it is presentable to potential buyers. Next, the property has to be evaluated, preferably by a professional third-party appraiser with years of experience. Homeowners are also recommended to perform as many repairs on the property as their budget allows to make it ready to move into. Mandich Property Group also advises homeowners, in case they don’t have the means to make the necessary repairs, to be honest with buyers about the condition that the property is in.
After the home has been prepped, a homeowner needs to find a way to get their valuable property asset in front of those looking to buy. This involves listing the home for sale on an MLS (Multiple Listing Service) or other online platforms or getting the word out to one’s immediate network. Nationally, as of 2020, there were nearly 600 MLS directories in the country. Listing a property on an MLS requires the homeowner to pay a nominal fee. Mandich Property Group advises homeowners to be very careful while describing the property in an online ad because the information must be completely accurate to avoid any disputes in the future. It is also worth noting that, according to statistics published by the National Association of Realtors, nearly half of all homeowners who opt for FSBO sales already have a potential buyer lined up, such as a friend or a family member.
Finally, homeowners need to prepare all the legal documents such as the sales contract, property disclosure form, and deed. All the documents must be signed, witnessed, and notarized by the appropriate parties and local bodies. If the buyer was represented by a real estate agent, the latter will get a cut of the selling price of the home, typically 2% to 3%.
Jennifer Mandich, from Mandich Property Group, talks about the disadvantages of FSBO sales by saying, “You might be tempted to sell your house without a real estate agent knowing that you will save the money that you would have lost as part of their commissions. However, those commissions serve a crucial purpose as there is a lot of work involved in selling a property, from the initial prep to the time the deal closes. Moreover, the statistics also tell a different story. A study by Collateral Analytics found that FSBO homes sold for 26% less than the average selling price of comparable homes sold by agents. Agents can bring value to the table in a lot of ways such as staging it so that it looks its best, writing effective ad copy by highlighting the home’s best features, taking attractive photos of the property, negotiating for a fair price on your behalf, and finally guiding you through the documentation required for its smooth transfer. We sincerely urge you to weigh all the pros and cons before settling on an FSBO sale. If you own property in the Atlanta metro area and want fast cash for your home without any headaches, you can always rely on Mandich Property Group. We make a fair all-cash offer for your property “as-is” and can close in as little as 7 days.”
SOURCE: Press Advantage [Link]
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