25 Reasons Why Sellers NEED an Agent

I talk to sellers all of the time who share nightmares about their past experiences or what their friends, neighbors, and co-workers have gone through when selling their home. The majority are from FSBOs (For Sale By Owners) who tried to sell their home themselves and after much frustration hired an agent to get the job done.



Nine times out of ten, people think they can sell their home themselves (normally to save money... or so they think). Soon after they realize the time and effort it takes to market (they can't advertise in MLS), filter possible buyers (keeping safety in mind), review and negotiate contracts, plus a ton of other tasks. Below are 25 Types of Turbulence that can come up with a buyer and a QUALIFIED agent (like myself :-) is experienced to do their best to anticipate and/or try to resolve them when they do arise. While some may seem far-fetched to you, agents deal with these issues often. A "smooth" / issue-free transaction is actually rare.

THE BUYER/BORROWER:

1.        Does not tell the truth on loan application.

2.        Has a recent late payment on credit report.

3.        Finds out about additional debt after loan application.

4.        Borrower or  Co-borrower loses job.

5.        Income verification lower than what was stated on loan application.

6.        Overtime income not allowed by underwriter for qualifying.

7.        Applicant makes large purchase on credit before closing.

8.        Illness, injury, divorce or other financial setback during escrow.

9.        Lacks motivation.

10.    Cannot locate divorce decree.

11.    Cannot locate petition or discharge of bankruptcy.

12.    Cannot locate tax returns.

13.    Cannot locate bank statements.

14.    Interest rate increases and borrower no longer qualifies.

15.    Loan program changes with higher rates, points and fees.

16.    Bankruptcy within the last two years.

17.    Mortgage payment is double the previous housing payment.

18.    Borrower/co-borrower does not have steady two-year employment history.

19.    Borrower brings in handwritten pay stubs.

20.    Borrower switches to job with a probation period.

21.    Borrower switches from job with salary to 100% commission income.

22.    Buyer is too picky about property in price range.

23.    Buyer feels the house is misrepresented.

24.    Buyer comes up short of money at closing. 
25.    Buyer does not properly "paper trail" additional money that comes from gifts. Loans, etc. 



*Bonus

 FSBO Facts

• 80% of 'For Sale by Owners' eventually list with an agent.Of the remaining 20%, only 2% actually make it to closing and you can see from the list above why this happens...
• FSBO homes are usually overpriced. 
• Buyers are more likely to feel intimidated and less likely to submit an offer. If they do, they low-ball to account for the commission not being paid.
• FSBOs are more likely to stumble into legal trouble.

I'm sure you can add a few more. What nightmares or issues have you dealt with when trying to sell your home? Be sure to comment and let other sellers know other things to look out for. 

Stayed tuned for another 50+ reasons Sellers MUST HAVE  a knowledgeable agent on their side.

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In the meantime, if you or anyone you know is looking to sell or buy a Georgia home in Loganville, Snellville, Grayson, Lawrenceville or surrounding areas, contact me today (404) 857-2508!  

Outside these areas or out of state? No problem! I can still assist you through Coldwell Banker's 'Friends & Family' program. I'll tell you how...

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Natasha Liburd Bazile is a Realtor with Coldwell Banker Atlanta and the Lead Home Stager with Heart of Decor in Georgia (virtual services available). She prides herself in being a guide to her clients and finds fulfillment in helping them achieve their goals.

2012 U.S. & Atlanta Real Estate Market Performance Results

In the U.S...

We are encouraged by the positive signs as we rebound from the impact of the recession.  The National Association of Realtors reported that existing home sales continue to improve with low inventory supply pressuring home prices.  We are seeing more and more that people are taking their lives off hold as they gain more confidence and see job growth. People move for lifestyle – they continue to get married and have children indicating there is a demand for housing. The lifestyle reasons of home ownership have never gone away.   What we are also hearing is that sellers are pricing their homes closer to where they need to be at the start, which is a change from the previous years when sellers still did not understand the change in the market.  Buyers are still waiting for prices to fall further, but this is a mistake.  If a buyer is interested in a home they should make an offer and negotiate with the seller. Sellers are receiving multiple offers on homes that are priced according to the competitive market. If a buyer waits on the sidelines, the likelihood is they will be disappointed to learn that the house they were interested in has sold to another buyer.   


In Atlanta...
 

Data provided by the First Multiple Listing Service* illustrates that homebuyers in Atlanta have returned to the market!  December YTD sales of 52,030 homes are running 8.2% ahead of last year’s YTD sales of 48,097 homes.   Homebuyers have found that there is an under-supply of homes to choose from as FMLS illustrates that total inventory of properties for sale in December 2012 was 13,499 down 23.7% from 17,684 in December 2011. This lack of supply has created pent up demand for properly priced homes, in the right location and or school district.   We have also seen investors return to the housing market, and traditionally they are able to make cash offers.   An increase in demand and decrease in supply is slowly pushing prices upwards in several Atlanta submarkets, according to FMLS, the average sales price in December was $230,613, up 38.1% from $166,930 in December 2011. December 2012 Average Sales Price was at the highest level compared to December of 2011 and 2010.

*Includes Cherokee, Cobb, Clayton, Dekalb, Douglas, Forsyth, Fulton, Gwinnett, and Paulding counties

If you or anyone you know is looking to sell or buy a home, contact me 404-857-2508. As always, I appreciate your referrals :-). Talk to you soon and have a blessed day!

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Natasha Liburd Bazile is a Realtor with Coldwell Banker Atlanta and the Lead Home Stager with Heart of Decor in Georgia (virtual services available). She prides herself in being a guide to her clients and finds fulfillment in helping them achieve their goals.

 

Investing in Atlanta Real Estate (re-post)

This weekend, I attend a Real Estate Wealth Conference 2012 in Atlanta held by a prominent individual in the real estate community. There was a wealth of information shared... my brain is actually still on overload. The focus of the conference was investing in real estate. I pride myself in continually learning and staying abreast of what is going on in real estate. Especially, the market I service. Over the past few months, there has been an influx of investor activity, and most are from oversees. Unlike the traditional "flipping" of houses, these investors are purchasing properties to add to their investment portfolio. For example, John from the U.K. wants to add 20 properties to his portfolio over the next six months. John then rents these property out which gives him monthly cash flow and after holding these properties for 5 to 20+ years, he sells when the market is at a peak. The amount of his profit depends on many factors, but he is slated to see a significant investment. A much bigger return than if he were to park his money in a cd that is paying a less than 1% return.

So how does, John in the U.K. find, renovate, and manage all of his investment properties. He doesn't! The one thing John has to do is find a team of people he knows, likes, and trusts, in addition to funding the venture of course. John contracts me to be his Realtor. Through building a relationship with John, I understand his overall goal, what properties he is interested in, and most importantly, I understand the Atlanta market where John wants to invest! John then contracts a Contractor with a team to renovate to investment properties. And lastly, he contracts a Property Management company to manage the properties. Believe you me, John does not want to deal with the call at 2am from his tenant who is upset that the toilet won't stop leaking. John is in it for the long term gain... not the headaches.

If you having been thinking about investing in Atlanta real estate or looking to put a portion of your retirement portfolio in real estate, contact me at (404) 857-2508 to get the ball rolling. Interest rates are at an all time low and they are not predicted to stay that way for long!

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Natasha Liburd Bazile is a Realtor with Keller Williams Atlanta Partners and the Lead Home Stager with Heart of Decor in Georgia (virtual services available). She prides herself in being a guide to her clients and finds fulfillment in helping them achieve their goals.

Direct Phone: (404) 857-2508 
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As always, I appreciate your referrals :-). Talk to you soon and have a blessed day!

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Natasha Liburd Bazile is a Realtor with Coldwell Banker Atlanta and the Lead Home Stager with Heart of Decor in Georgia (virtual services available). She prides herself in being a guide to her clients and finds fulfillment in helping them achieve their goals.