Why Should You Use A Professional to Sell Your Home?

*from Keeping Current Matters

When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed a buyer’s behavior during the home buying process. According to the National Association of Realtors’ 2018 Home Buyer & Seller Generational Trends Report, the first step that “42% of recent buyers took in the home buying process was to look online at properties for sale.”

However, the report also revealed that 94% of buyers who used the internet when searching for homes ultimately purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% of buyers purchased their homes directly from a seller whom they didn’t know.

Buyers search for a home online but then depend on an agent to find the home they will buy (52%), to negotiate the terms of the sale (47%) & price (38%), or to help understand the process (60%).

The plethora of information now available has resulted in an increase in the percentage of buyers who reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.

February 9 Central IL Homes Guide – Online!

Want to make a quick move to a new home?
Ready to own the new home you have always dreamed of?

You can find one of these fantastic homes right here in our February 9 Central Illinois Homes Guide! Over 570 homes and properties featured in this edition.

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The Downside of Zillow

*From Sarah D’Hondt via lightersideofrealestate.com

Let me just go ahead and say it bluntly: stop listening to Zillow.

Zillow itself even encourages buyers, sellers and homeowners to conduct other research such as “getting a comparative market analysis (CMA) from a real estate agent” and “getting an appraisal from a professional appraiser.”

Sure, Zillow’s Zestimates® are quick, easy, and free. The point? Just let a local real estate professional (who will actually see your home’s unique features in person) determine its fair market value.

Let’s dive in a bit further, shall we?

First, I don’t believe that Zillow is inherently evil. In other words, they don’t set out to intentionally mislead the general public. In fact, they do have their positive points. Nevertheless, what is the net effect when buyers and sellers use Zillow? They often get inaccurate information, rely on it (even swear by it), thus causing migraines for REALTORS and agents everywhere.

See, for those of you not working in the real estate industry, you assume that Zillow is a trusted resource to find out what your property is worth. You assume the information is factual, based on homes that have sold in your area (also known as comparables or “comps”), and therefore are to be considered true market value. I’m here to explain to you why this website is feeding you misinformation and why it should not be trusted.

To put it simply…

The fine folks at Zillow don’t have the slightest clue about your market. There are approximately 43,000 zip codes in the United States, and each one has variables that affect property values, such as: school district, knowledge of declining or flourishing areas, property taxes, proximity to interstates, hospitals, attractions and shopping, and bodies of water to name a few.

Let’s pretend that you live in a 3 bedroom, brick ranch with a basement in “Perfect Town, USA”. When you plug your address into the search bar on Zillow, you will see a bunch of dots near your home. Those dots represent other homes that have sold, have foreclosed, or that are for sale or for rent. When you click on the dots, it will show you what the home sold for and the dot on your own home is just an average (also known as a “Zestimate”) of what all the others sold for, regardless of how it compares to yours.

Let’s say that half of those homes are colonials, are vinyl sided and not made of brick, don’t have a basement, or have 4 bedrooms or more, or are on the water, while yours is across the street from the water. Those are huge differences in the world of real estate, and especially to the appraiser who will seal the fate of what your home will inevitably sell for.

Zillow does not account for the condition of your home.

Your home may have been recently remodeled and has as updated kitchen and bathrooms, a new roof, new windows, new furnace, etc… and some of the homes being used as comps are stuck in the 1980’s.

It could also be the opposite and you may see an inflated value put on your home because others in the area have sold for more because they are new construction or have been renovated. Just because your neighbors’ homes sold for $500K doesn’t mean yours will too.

Appraisers need to compare apples to apples, so unless you live in a neighborhood where all the homes are identical cookie cutter houses, don’t ever expect to sell for what your neighbors sold for. Values change with every season, and the only true indicator of what your home is worth is the buyer. A REALTOR can run a thorough comparative market analysis (CMA) for you and give you a pretty accurate value and suggested listing price, but what a buyer is willing to offer you is ultimately what your home is worth.

What a buyer is willing to pay is based on many variables too, including the location, the updates and amenities your house includes and how much competition you have. If you live in an area where it’s a sellers’ market, it means you have little competition and more buyers in the area than homes for sale. This is when you want to list your home, and can expect top dollar, as indicated by the buyer!

This doesn’t mean you ask an outrageous amount, because anything over-priced will not sell. If you live in an area that is a buyer’s market, then you need to compete with many other homes for sale and can expect your home to sit on the market longer. No matter what city you live in or how the market is in your area, one thing remains the same:

Zillow is not correct and you need to call your REALTOR today to find out the value of your home! It takes a few minutes, it’s FREE and, most importantly, it will be accurate!

December 15 Central IL Homes Guide – Available Online

If you haven’t yet, be sure to check out our December 15 Central IL Homes Guide online! Over 675 active properties are featured in this issue. A big thank you, Happy Holidays, and a very Happy New Year to all of our advertisers, loyal readers, and subscribers!

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December 1 Central IL Homes Guide

Our December 1st Central IL Homes Guide is now available online. You can check out the digital version before it hits stands tomorrow, Friday, 12/01/17.

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