Selling Your Waldorf MD House on Your Own Could Cost You
Skip Young - Waldorf MD Realtor, Veteran, Re/max 100, Caruso Homes
In this extremely hot Waldorf MD real estate market, some Southern Maryland homeowners might consider selling their homes on their own which is known as a For Sale by Owner (FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers.
However, a study by Collateral Analytics reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in Waldorf MD Real Estate markets. The data showed that:
“FSBOs tend to sell Waldorf MD Homes for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate .” (emphasis added)
Why would FSBOs net less money than if they had used an agent like Skip Young Realtor?
The study makes several suggestions:
- “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such Waldorf MD buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
- “Experienced Real Estate Agents like Skip Young are experts at ‘staging’ homes for sale” which could bring more money for the home.
- “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.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.
Conclusions from the study:
- FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
- The data suggests the average price was near 6% lower for FSBO sales of similar properties.
Bottom Line
As Dave Ramsey, America’s trusted voice on money, explains:
“Research has shown that, between mistakes, lack of negotiating skills, pricing errors and general exposure on the market, you’ll cost yourself more than the real estate commission…You’ll come out slightly better and with a lot less hassle if you use a top-shelf agent.”
Dave Ramsey is an experienced Real Estate Trainer. He has taught thousands of agents how to build their business to service clients in all markets. Even right here in the Waldorf MD Real Estate Market. Southern Maryland homes in Charles County are no different when it comes to FSBO. If you look at the fact that we can establish a price that is accurate for your home to sell in the time you are looking to sell in and the price you are trying to sell your Waldorf MD home for. There is no Algorithm that a Real Estate Pro like Skip Young will use. I will use comps from the previous 6 months and also under contracts to see what Waldorf MD buyers are actually paying for their homes.
Another thing about going FSBO is that the marketing of placing a sign outside only brings back a 1% chance to sell. Now please do not be turned off by what I am saying, there is a 49% chance that the internet can generate the sale. That percentage goes down because when you just list with Zillow it only shows on Zillow. When we use the internet to market your home you go to every website out there. Thousands of different websites and with Zillow there is no Social Media exposure. I will expose your home till it sales to the entire social world that surrounds your home. My social reach goes outside the local market and into other markets to attract everyone.
So if your looking to an agent that can get the job done and sell you home, please contact Skip Young and lets get an appointment set up to come out and look at your home and give you an accurate price to sell in the amount of time you want to sell for the price you want to sell.
If you are planning on buying and/or selling a Waldorf MD home this year, let Waldorf MD Relator Skip Young get together to help you navigate the conditions in our Southern Maryland market and set you up for success. Covering Charles County, St. Mary's County, Anne Arundel County, Prince Georges County and Calvert County.
3055 Mill Hill Road Waldorf, MD 20603 $392,400
To Be Built on this lot, 9 Months New Michigan 2376 Sq Ft on this 1 acre lot in Waldorf MD. This home site in Waldorf MD To Be Built by Caruso Homes On Your Lot Division. Different Elevations to choose from. This package offers 3 level living with basement, 4 Bedroom, 2.5 Baths 2 car Garage, Siding Standard, Brick if you choose up-grade, Kitchen with Stainless Steel Appliances. With the 1 acre lot it will allow you to build a much larger Michigan or anyone of our many Caruso Classics.
Schools:
North Point High School District is a school for career and technology education (formerly science, technology, and industry). It is located in the far western area of Waldorf, Maryland, United States. At 311,000 square feet (28,900 m2) and with about 2,200 students enrolled, it is the largest high school in Charles County. It is also the second newest high school, having opened in 2005. Its mascot, the Eagle, was derived from the motto of Charles County, "The wild side of the Potomac... Where eagles soar!
North Point has 17 career and technology education programs (formerly as STI for science, technology and industry). An estimated half of the student body is enrolled in one of these programs, while the other half receives a normal high school education.
3010 WESTBROOK LN, BOWIE, MD 20721 $945,200
1320 TONGUE COVE DRIVE, LUSBY MD 20657 $507,3195
749 Old Herald Harbor Rd, Crownsville MD 21032 $646,639
Find out your Homes Value in Waldorf Maryland today by filling and submitting the form.
Whats my House Value in Waldorf Maryland?
If you are looking to Buy a Home in Southern Maryland, hire a Southern Maryland Realtor to help you find the Home you are looking for. In either Charles County, St. Mary’s County, Prince Georges County, Calvert County or Anne Arundel County, Finding and Hiring a local Realtor will help you find the right home for the right price. If its New Construction you need, your local Maryland Realtor can help you find the right Community or even find the right On Your Lot with Caruso Homes to build your Luxury Dream Home. What is your house value. Home value comes from the sales of other properties in your community that have sold over the last 6 months. When your house is prepared to go on the market, the value is calculated by Bedrooms, Bathrooms, Square Footage, Garage and Basement. Location also plays a part in the value of your home. If your in a good location, close to shopping, in a great school district, this will attract more potential buyers to your home. Making the home value much higher and also opening up the possibility of selling your home much faster. Taking also into the factor that when buying a New Luxury home from Caruso Home - On Your Lot, you have the opportunity to get your new home built for less than regular market value. Always give New Construction of your purchase a chance to see if you have the 7 - 9 months of build time. Caruso Homes also has communities all around Maryland that have homes that are 30 - 45 days out for you to purchase as well. Buying new will give you the value and equity to grow in your investment.
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Skip Young Realtor
is rated 5 stars on Google based on 3 reviews
Zillow Reviews
04/10/2018 - williamrichmondinc
Sold a Single Family home in 2010 in Mechanicsville, MD.
- Local knowledge:
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I tried unsuccessfully for four years to sell my home in Mechanicsville. Two different real estate companies declined to renew my listing. Thank goodness for Skip Young. He never gave up and never made any excuses - and this was at a time when the real estate market was at it’s absolute worst. We had some offers that fell through at the last minute. Skip never wavered. His attitude was always positive. Thanks to Skip’s tenacity and professionalism my house sold and I got the fresh start I needed. Thank you Skip.
2004 Rookie of the Year Southern Maryland Calvert County
Skip Young
Real Estate Agent
RE/MAX 100
Remax 100
10665 Stanhaven Place Suite 300
White Plains, MD 20695
(301) 535-8510
Mon-Sat 8am – 6pm
Skip Young | Caruso Homes | On Your Lot Division
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Buying or Selling Real Estate in Maryland, Servicing these area's.
Bowie, Waldorf, Coltons Point, Bryantown, Barstow, Solomons, Mechanicsville, Fort Washington, Brandywine, Oxon Hill, Annapolis, Aquasco, Dameron, Welcome, Cobb Island, Helen, Issue, Lexington Park, Hughesville, Lusby, Lothian, Temple Hills, Morganza, Callaway, Cheltenham, Piney Point, Port Tobacco, Bel Alton, Faulkner, White Plains, Pomfret, Benedict, Huntingtown, Marbury, Churchton, Greenbelt, Edgewater, Dowell, Port Republic, Ridge, Scotland, Clinton, Hollywood, Saint Inigoes, Prince Frederick, Bushwood, Tall Timbers, Odenton, Clements, Bryans Road, Valley Lee, Chesapeake Beach, Broomes Island, Leonardtown, Patuxent River, Saint Marys City, North Beach, Rock Point, California, Saint Leonard, Indian Head, Gambrills, Davidsonville, Crofton, Chaptico, La Plata, Mayo, Charlotte Hall, West River, Dunkirk, Deale, Abell, Owings, Nanjemoy, Park Hall, Harwood, Compton, Great Mills, Ironsides, Loveville, Sunderland, Tracys Landing, Mount Victoria, Drayden, Shady Side, Avenue