Archives - 5-04-02 Real Talk

     Realty World - Investors Realty
     103 W. Tulare Ave.
     Visalia, California

Brad L. Maaske
Broker

Saturday May 4th "Real Talk" will be in the Nextel Traveling Road Show with an open phone line

Multiple offers, sellers market, more buyers than sellers..... why do I need a real estate agent to sell my house? This is the question many sellers in the valley are asking real estate agents today. The answer is that real estate agents can get you more for your home and help prevent misunderstandings in the transaction. According to the National Association of Realtors statistics over 90% of "For Sale by Owners" end up using a Realtor to sell their home.

Most sellers think they can get more money if they sell their home without using the services of a real estate agency. N.A.R. statistics once again prove this is not true. Not surprisingly most sellers who do not use a Realtor get approximately 94% of the sales price when compared to the sale of their neighbors home who used a Realtor. (Approximately 6% less or the average commission a Realtor would have charged). So why not negotiate a lower commission and then you would still be ahead?

Selling a home in California today can be a complex transaction. In addition to using a binding purchase contract real estate agents are familiar with the myriad of other disclosures sellers are required by law to provide in a transaction. Here is short list of disclosures provided to buyers in a typical residential sale: 1. Environmental Hazards Handbook, including a description of lead based paint dangers, earthquake safety checklists and mold disclosures. 2. Sellers Transfer Disclosure Statement, a three page document required to be filled out by nearly every seller of residential property. 3. "Local Option" , a one page advisory letting potential buyers know that the valley is an agricultural area with dusts, pesticides, tractors and other nuisances related to agricultural production. 4. Natural Hazards Disclosure Statement, a one page disclosure about floods, dams bursting, fire hazards and earthquake risks. 5. Lead Based Paint Disclosure, a four page disclosure about how to test for lead based paint and revealing the presence of lead based paint in home.

Full Service Real Estate Brokers are aware of the current laws and disclosures sellers are required by law to make to buyers. Typical commission ranges for the sale of homes is between 4% and 7%. These rates are negotiable between the seller and the Broker. A seller could and should make certain that if they are not paying a discounted fee (usually judged as something less than 5% commission) that they are receiving full services from their Broker. Full service would include placing your property in the local MLS, cooperating with other Realtors, advertising your property, holding home tours etc. By using all of these tools to sell your home full service Brokers may attract several buyers who want your home, therefore "bidding up" the price to a higher level than you would have obtained had you only had one buyer.

We will have an open phone line this Saturday to discuss this as well interest rate trends, development news, and as always we are here to answer your questions regarding real estate. The numbers to call on Saturday are 490-5858 or 1-800-776-5858.

I welcome your comments and suggestions for this show and future shows
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