Raleigh Residential Real Estate Blog

Raleigh Residential Real Estate - JUST LISTED! - 4324 Woodlawn Drive, Raleigh, NC 27616

 

 Looking for simple lifestyle? This ALL BRICK ranch is on a quiet, private street with no HOA dues or city taxes. It offers lots of hardwood floors, new kitchen vinyl, a new hot water heater (’02), new carpet and outside trim (’05) and the house has been replumbed! Adding a shower to the half bath is easily done and the Triangle Town Center is just 2.7 miles away.See more on www.PolingTeam.com

 

Raleigh Residential Real Estate - Reasons Why Sellers Should Have An Agent-Assisted Home Sale Rather Than Selling By-Owner:  

Reason #2 – “By owner” sellers have NO FINANCIAL SAFETY NET.

Sellers have no financial safety net when selling on their own, while agents carry a million dollars or more on every single transaction that they do.  It is noteworthy that real estate agents are highly trained and know what they are doing, and yet they still carry insurance called “Errors and Omissions” insurance.  Sellers selling “by owner” have no insurance to cover them if a buyer comes back in 3-4-5 years and decides to litigate against the seller.  In agent-assisted home sales, it is an agent’s E&O policy that protects the seller’s assets against unintentional errors and non-fraudulent omissions.   Since this is a business transaction and you never know who you are selling to, why would a seller consider doing a transaction without the protection and security of E&O insurance?  It represents the seller’s future, his retirement, his equity, and his future earnings.
Continued…

More Information for Home Sellers can be found on our website: The Poling Team

REASONS WHY SELLERS SHOULD HAVE AN AGENT-ASSISTED HOME SALE RATHER THAN SELLING BY-OWNER:

Reason #1   Statistically and historically speaking, “by owner” sellers sell their homes for less than agent assisted home sales. 
By-owner home sales have a track record for selling less than agent assisted home sales – currently receiving only 85 cents on the dollar.  They’ve sold for less money every year since 1999, attracting bargain-hunters and investors who search out the by-owner market.
Why do FSBOs sell for less?  These strong market forces are at work causing by-owners to sell for less no matter what part of the country they are in.  Logically speaking, what buyer would forgo all the services offered FREE to buyers by agents and instead search out homes by owners?  A buyer who is looking for a discount home price.
To Be Continued…

Visit us at www.PolingTeam.com

The National Association of Realtors® (NAR) Profile of Home Buyers and Sellers is based on more than 7,800 responses to a questionnaire mailed to a large national sampling of consumers located through county deed records.  Published yearly, it represents a series of surveys evaluating demographics, marketing and other characteristics of home buyers and sellers.

This NAR profile reported that for-sale-by-owner home sales in recent years are on a sustained decline and are now at a record low.
 
The most recent cyclical peak in the for-sale-by-owner market was in 1997 where by-owner transactions accounted for 18% of all homes sold.  In 2005, only 13% of sellers conducted transactions without the assistance of a real estate professional, and 39% of those for-sale-by-owner transactions were “closely held” between parties who knew each other in advance. 
In other words, they were never placed on the open market.  The FSBO market share was at 14% in both 2003 and 2004. NAR began tracking the FSBO market in 1981; since 1981, the record for-sale-by-owner market share was 20% in 1987.

The median home price for homes sold by-owner was considerably less than agent-assisted home sales.  In 2005, agent assisted home sales brought 16% more money than a home sold directly by an owner and there were no significant differences between the types of homes sold.
Continued in my next blog.

 The Poling Team would love to be your Raleigh NC Realtor. Contact us to receive a high level of personalized service.

 

Raleigh Residential Real Estate –Keller Williams North Raleigh Moves to New Office

The Keller Williams North Raleigh Office has moved to 9121 Anson Way in North Raleigh, NC between Six Forks Road and Strickland Road.

Because I provide IT support to our office, I have not written too many blogs in recent days. Now things seem to be settling down and I will have more time to write.

In addition, Linda has begun to write as well – in her first series of blogs, she is planning to share about selling Raleigh North Carolina homes as For Sale by Owner.

But back to the topic of this blog, our new office address is:

9121 Anson Way, Ste 100
Raleigh, NC 27615
 
You can still search for Raleigh residential real estate on the Poling Team Website here: Search Raleigh, NC Real Estate