St Louis Real Estate

In the overview of the selling process we went into the various options that you have in selling your home in St. Louis.  So here I want to go into a bit more detail on what you can expect if you decide to attempt to sell your home on your own vs. what you can expect if you list your home for sale with a St. Louis Realtor.

FSBO In St. Louis

As mentioned earlier, most people's motivation when selling their home FSBO is to save the commission.  Some people also simply want the challenge of doing it themselves and don't see the necessity of hiring an agent.  Personally, I can understand both positions.

I think that real estate commissions have gotten out of hand as homes have appreciated.  I still don't see why it costs 3 times more to sell a $300,000 home than it does a $100,000 home.  I also don't hold a lot of my real estate colleagues in high regard and wonder what kind of job that guy with the gravy stained tie would do in selling a home.

That said, going FSBO is not all that it's cracked up to be.  Here's why:

1)  You're not going to save as much money as you thought you were.  -  As pointed out in an earlier section, the economics of the St Louis real estate market are such that the vast majority of buyer's are working with agents.  With buyer's agency the chances are that even if you find a buyer for your home, they are going to come with an agent attached at the hip.

Also, since the agents control the vast majority of the buyers in the St. Louis real estate market, the chances of your getting a higher price for your home is greater with your home being listed. 

2)  Security Issues - When you advertise your home for sale by owner you are inviting the world to come in.  Many people who don't have the best intentions in the world prey upon FSBO's because it gives them an easy segue way into your home.  With an agent involved they are less likely to do this because at least one other person is involved (the agent and that agent's office)

3)  Time And Aggravation - It's not unusual for people to make an appointment and to stand you up.  Can you imagine how aggravated you would be if you put off a meeting with a client to go show your home and the potential buyer didn't show up?  Imagine how frustrated you would be if when you got back to your office that "buyer" called and apologized for missing you and set up another appointment only to miss that one too!  How about when you finally hook up with him or her you show them your home only to find that they really aren't qualified to buy your home or that they were really just interested in seeing your wife's decorating?

With an agent, we still get these frustrations, but it's on us.  Not on you!

4)  Negotiations - There is a reason that there is an entire mediations and negotiations industry.  Direct negotiations can be rough.  With an agent acting as a go between it's a lot easier to negotiate the purchase of your home.  Having a good negotiator to act as a facilitator can mean the difference between selling your home and being back to square one.

5)  Liability - Selling your home can be a very complicated procedure and the opportunity to screw up will surround you.  While a lot of the liability can be mitigated by hiring a real estate attorney and/or a good title company, having someone in your corner who has sold more than a couple of houses can be a god send!

I don't mean to try and talk you out of going FSBO (Actually, that's exactly what I'm trying to do), but I wanted you to know the good, the bad and the ugly.  Also, most people when they are considering going FSBO are doing such with the belief that they are going to have to pay 6 or 7% in real estate commissions.

When you consider that with the ValueList "Flat-Fee Listing program that you can save anywhere from 35% to 80% off of what a conventional real estate company charges, going FSBO pales even more in comparison.

That said, if you do decide to go FSBO, please keep in mind that ValueList is here for you!  Feel free to utilize us as a resource.  Be it qualifying a potential buyer for a mortgage or answering a title question, ValueList is there for you!

Our philosophy is that the majority of FSBO's are going to list eventually.  This being the case, if we hare helpful, friendly, courteous and kind that if you do list, you might consider us.  Make sense?

Listing With An Agent

If you decide that going FSBO is not for you, you still have a wide range of choices here in the St. Louis real estate market.  They range from listing your home with a "no-service" MLS only company which is the cheapest, but not necessarily the best value to listing with a full-service conventional real estate company (the most expensive and still not the best value).  In between these two alternatives is ValueList Real Estate Services.

With ValueList you get the full-service Realtor, but don't have to pay an obnoxious amount in real estate commissions.  While this is a promotional web site, I don't want to keep beating you over the head with this fact, but I do want you to know that we are indeed the best value!

The one thing that I want to make sure that you consider when listing your home is to make sure that you are making the best choice in agent and company.  In my opinion far too many people list their home with somebody for the wrong reasons.  Just because you go to church with an agent doesn't mean that they are your best choice to sell your home.  This also works with relatives.  Your home is one of your biggest investments, don't list it with your nephew just because he's your sister's kid.  If he offers the best value, then cool.  If not, this is and should be a business decision!

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