Selling Your Kitsap County WA Home
May 22nd, 2009 by Rich Jacobson
Let’s face it, these are challenging times, especially for Sellers. Nearly half of the market areas in Kitsap County WA have more than a year’s worth inventory of homes currently available for purchase. Add to that mix the decreasing property valuations, along with an increase in short sales and foreclosures, and the result is an intensely competitive and difficult market dynamic for Sellers.
So what viable home marketing options are available for today’s Sellers in the midst of such dire circumstances?
Option 1: FSBO (For Sale By Owner) – This option not for the faint in heart and exposes you to the most risk. In this instance, the Seller is completely on their own and does everything. From determining market value and listing price, to creating all marketing materials, and negotiating contracts directly with all potential Buyers. This particular option normally has the potential for greater success in a brisk Seller’s market, but becomes increasingly more difficult as the market slows. Your chances for attracting a viable Buyer can be significantly improved by at least offering/promoting a Buyer’s Agent commission. Some degree of potential liability can be reduced if all contracts are reviewed by legal counsel.
Option 2: Limited Service Agency – There instances or circumstances where utilizing a Limited Service Broker can be a viable option. Not all of them are the same, but most of them start off with a very basic ‘flat-fee’ listing contract. For $X-amount, they will put a sign up in your yard and input your home in the local MLS (Multiple Listing Service). Any additional services, such as a lock box, flyers/flyer box, counseling or negotiation services, are typically extra ‘menu’ items you can elect to pay for. Most Limited Service Agencies recognize the value of offering a Buyer’s Agent commission. Make sure that what you are offering is comparable/competitive with other similar property commissions. While not as risky as the FSBO, this option still assumes some exposure to potential liability, especially if you’re handling all the contract paperwork. At a minimum, have a real estate attorney review all contracts.
Option 3: Full Service Agency – By far the most common form of agency representation is the ‘Full-Service’ brokerage. In all fairness though, it should be noted that not all so-called ‘Full-Service’ brokers or agents actually make good on their promise to provide a full or complete range of services. This is an unfortunate reality in almost every business, not just real estate. Any broker or agent who claims to offer full services should be able to effectively articulate their value proposition and justify their commission. For those of us who genuinely strive to achieve such levels of client service, we understand that our primary role is to relentlessly represent our clients best interests and to empower them through our professional knowledge, experience, and expertise. We possess the skills necessary to effectively market properties in today’s economic downturn and get them sold! We leverage the power of the Internet to the fullest extent possible, ensuring that your home receives maximum exposure. We pride ourselves on our intimate knowledge of the local real estate market and our ability to analyze/interpret relevant data. We educate, inform, and counsel our clients throughout all phases of the transaction. We stay current on the ever-changing mass of local, State, and Federal laws and regulations applicable to real estate practices, and help our clients navigate through them. We master the art of skilled negotiation so our clients can successfully achieve their goals. We help facilitate/coordinate all elements of the home buying/selling process in order to ensure an efficient and timely closure. We assume the stress, the worries, the risks, and the liabilities so our clients can move on to the next adventure in life.
There’s an old adage, “You get what you pay for!” Unfortunately, all too many times, we find ourselves holding onto the short end of the stick, and getting less than what we paid for. At the end of the day, it’s always my hope and desire that I would exceed my client’s expectations; that the value/benefit vs. cost of my services would be clearly evident to them; and that my actions and level of service would merit their continued trust and referrals.
~ o ~ o ~ o ~ o ~ o ~
Rich Jacobson is a licensed real estate professional providing knowledgeable empowerment and relentless representation for his clients of residential properties and vacant land throughout all of Kitsap County WA and portions of Pierce, Mason, and Jefferson Counties. You can also find him at KitsapLife.com and Crabbing in the Hood, or e-mail: kitsapagent@gmail.com
Tags: for sale by owner, fsbo, full service broker, Kitsap County WA real estate, limited service broker, selling your home
As an advocate for my clients, it is my responsibility to educate and inform my clients about the entire real estate transaction process, from start to finish. One of the reasons for doing so is to better prepare them for any potential pitfalls, delays, or challenges that may occur. As much as we may try to achieve a smooth and timely closing, there is always the possibility for a problem to occur that is outside of our ability to control.
Real Estate Market Report/Conditions in Kitsap County WA for 05/11/2009 The following is a brief analysis of the combined single-family home and condo market within Kitsap County, Washington for May 2009, provided by 
Home prices in Kitsap County WA continued to drop in April, while pending sales rose sharply.
This is the 3rd and final installment in a series entitled “The Art of Offering Less” and deals with the unique nuances associated with tendering an offer that is lower than the asking price.
