6 Reasons You’ll win by Selling with a Real Estate Agent this Fall

There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale by Owner (FSBO), it’s critical to consider the following:

1. Your Safety Is a Priority

Your family’s safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your family’s health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours for buyers, real estate professionals are equipped to follow the latest industry standards recommended by the National Association of Realtors (NAR) to help protect you and your family.

2. A Powerful Online Strategy Is a Must to Attract a Buyer

Recent studies from NAR have shown that, even before COVID-19, the first step 44% of all buyers took when looking for a home was to search online. Throughout the process, that number jumps to 93%. Today, those numbers have grown exponentially. Most real estate agents have developed a strong Internet and social media strategy to promote the sale of your house. Have you?

3. There Are Too Many Negotiations

Here are just a few of the people you’ll need to negotiate with if you decide to FSBO:

  • The buyer, who wants the best deal possible
  • The buyer’s agent, who solely represents the best interest of the buyer
  • The inspection companies, which work for the buyer and will almost always find challenges with the house
  • The appraiser, if there is a question of value

As part of their training, agents are taught how to negotiate every aspect of the real estate transaction and how to mediate the emotions felt by buyers looking to make what is probably the largest purchase of their lives.

4. You Won’t Know if Your Purchaser Is Qualified for a Mortgage

Having a buyer who wants to purchase your house is the first step. Making sure they can afford to buy it is just as important. As a FSBO, it’s almost impossible to be involved in the mortgage process of your buyer. A real estate professional is trained to ask the appropriate questions and, in most cases, will be intimately aware of the progress being made toward a purchaser’s mortgage commitment.

Further complicating the situation is how the current mortgage market is rapidly evolving because of the number of families out of work and in mortgage forbearance. A loan program that was available yesterday could be gone tomorrow. You need someone who is working with lenders every day to guarantee your buyer makes it to the closing table.

5. FSBOing Has Become More Difficult from a Legal Standpoint

The documentation involved in the selling process has increased dramatically as more and more disclosures and regulations have become mandatory. In an increasingly litigious society, the agent acts as a third-party to help the seller avoid legal jeopardy. This is one of the major reasons why the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

6. You Net More Money When Using an Agent

Many homeowners believe they’ll save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save on the commission.

study by Collateral Analytics revealed that FSBOs don’t actually save anything by forgoing the help of an agent. In some cases, the seller may even net less money from the sale. The study found the difference in price between a FSBO and an agent-listed home was an average of 6%. One of the main reasons for the price difference is effective exposure:

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

The more buyers that view a home, the greater the chance a bidding war will take place.

Bottom Line

Listing on your own leaves you to manage the entire transaction by yourself. Why do that when you can hire an agent and still net the same amount of money? Before you decide to take on the challenge of selling your house alone, let’s connect to discuss your options.

2020 Homebuyer Preferences

A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers. Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save more money to put toward a down payment. Reach out to a local real estate professional today if your needs have recently changed and you’re ready to make a move this year.

An Oasis in the City: Yerba Buena Island

“Experience San Francisco As it was Meant to be Lived” 

Located on a naturally formed Island, Yerba Buena Island will become home to 266 new residences, all with 360 degree breathtaking views of the San Francisco City Skyline in early 2021. With an emphasis on nature, wellness and community Yerba Buena will provide residents an island oasis, while still being close to the heart of San Francisco. Along with 72 acres of green land, and 5 miles of trails, the Island will feature three contemporary unique residences: The Bristol, The Flats, and The Townhomes, each with the natural beauty of the outdoors incorporated in the design. The residences on this island allow you to be just steps away from all the benefits nature has to offer including hiking and biking trails.

For more information and construction updates visit: https://yerbabuenaislandsf.com/

Learn the Lingo with Buying a Home

Buying property in San Francisco can be intimidating if you’re not familiar with the terms used throughout the process. To point you in the right direction, here’s a list of some of the most common language you will hear along the way.

The best way to ensure your home buying process is a positive one is to find a real estate professional who will guide you through every aspect of the transaction.

Luxurious Condo in an Award Winning Complex

1657 18th Street

This 2-BR loft like condo offers three levels of luxury living in the heart of the North Slope of Potrero. Located in an award winning complex the home has a great separation of spaces, which is ideal for working from home or sheltering in place. Graced by beautiful maple hardwood floors throughout, the entrance to the unit on the main level leads to a large living space with soaring 13-foot ceilings & a wall of windows allowing for plenty of natural light and views of the neighborhood. Down the stairs to the lower level an efficient gourmet kitchen has quartz counters, high-end stainless steel appliances, ample cabinets, and a washer/dryer.  Tucked away behind the kitchen there is a private bedroom and full bath, great as a guest room or home office, and a fabulous outdoor deck. Up the stairs on the top floor there is a spacious main bedroom with ensuite bath and walk-in closet. The floors and some of the lighting have been redone and the unit has been painted throughout. A great 1-car parking space completes the home. Building amenities include a beautiful garden area, perfect for barbecues and entertaining (Post Covid). The building is in an excellent location, with many neighborhood restaurants, cafes, and local businesses only one block away. Enjoy the advantage of being close to UCSF Mission Bay, Dogpatch, SOMA, Caltran and tech shuttles, with easy access to freeways 280 & 101.

VIEWS, VIEWS, VIEWS


Bright 1 Bedroom Condo with Private Terrace and Downtown View

140 South Van Ness #909

Spacious 1Br/1Ba condo with plenty of natural light and beautiful views of downtown, featuring an open concept floor plan, hardwood floors, large windows, clean lines, and private outdoor balcony; a great space to unwind, work, live and play. The main LR/DR space enjoys expansive views of the city and an open kitchen with  lovely granite countertops, crisp white cabinets, and quality stainless steel appliances. There is a large bedroom with ensuite bath, excellent closet space, and doors opening onto a private terrace. Relax and spend quality time outdoors overlooking the city.  In-unit laundry, leased parking and additional storage make the home all that more comfortable. Located in the mid market corridor the building is well run and professionally managed with Low HOA dues, on site management, a fitness center, conference room and serene outdoor courtyard space with outdoor seating, BBQ and a fountain. Enjoy  all the benefits of living steps away from Hayes Valley and the Valencia Corridor with it’s wide array of shops and restaurants, and easy access to freeways, public transportation & tech shuttles.

Why Is It so Important to Be Pre-Approved in the Homebuying Process?

Why Is It so Important to Be Pre-Approved in the Homebuying Process? | MyKCM

You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this.

According to a recent survey from realtor.com, many buyers are making the mistake of skipping the pre-approval step in the homebuying process:

“Of over 2,000 active home shoppers who plan to purchase a home in the next 12 months, only 52% obtained a pre-approval letter before beginning their home search, which means nearly half of home buyers are missing this crucial piece of paperwork.

This paperwork (the pre-approval letter) shows sellers you’re a qualified buyer, something that can really help you stand out from the crowd in the current ultra-competitive market.

How competitive is today’s market? Extremely – especially among buyers.

With limited inventory, there are many more buyers than sellers right now, and that’s fueling the competition. According to the National Association of Realtors (NAR), homes are receiving an average of 2.9 offers for sellers to negotiate, so bidding wars are heating up.

Pre-approval shows homeowners you’re a serious buyer. It helps you stand out from the crowd if you get into a multiple-offer scenario, and these days, it’s likely. When a seller knows you’re qualified to buy the home, you’re in a better position to potentially win the bidding war and land the home of your dreams.

Danielle Hale, Chief Economist for realtor.com notes:

“For ‘a buyer in a competitive market, it’s typically essential to have pre-approval done in order to submit an offer, so getting it done before you even look at homes is a smart move that will enable a buyer to move fast to put an offer in on the right home.’”

In addition, today’s housing market is also changing from moment to moment. Interest rates are low, prices are going up, and lending institutions are regularly updating their standards. You’re going to need guidance to navigate these waters, so it’s important to have a team of professionals (a loan officer and a real estate agent) making sure you take the right steps along the way and can show your qualifications as a buyer at the time you find a home to purchase.

Bottom Line

In a competitive market with low inventory, a pre-approval letter is a game-changing piece of the homebuying process. If you’re ready to buy this year, let’s connect before you start searching for a home.

Ask a Pro about Buying a Home

Lots of people have questions about buying a home, and other topics related to the process. Working with a trusted real estate professional will help you create the most personalized and helpful experience when buying a new home. Let’s connect so you have the guidance you need along the way.

Ask a Pro About Buying a Home [INFOGRAPHIC] | MykCM

 

Today’s Low Interest Rates

Today’s low rates mean it’s less expensive to borrow money, so the savings over the life of your loan is significant. Sometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low. Let’s connect to determine the best way to position yourself for a financially-savvy move in today’s market.

Mortgage Rates & Payments by Decade [INFOGRAPHIC] | MyKCM