For owners of lofts, penthouses, and condos in downtown San Diego, housing market conditions could not be any better than they are now. The current situation in San Diego can be described as a sellers’ market, which essentially means the housing inventory is not sufficient to accommodate demand by homebuyers. In late October, the S&P Case-Shiller Index of American home prices indicated that San Diego is among the metropolitan housing markets showing the greatest increases.
The time is right for condo owners to put their properties on the market, and the prospect of a high sales price may entice sellers to forgo hiring a real estate agent. It is not uncommon for homeowners to try the For Sale by Owner (FSBO) route when market conditions favor sellers. Nonetheless, there are certain benefits as well as drawbacks related to FSBO transactions, and they must be weighed carefully before choosing to sell without an agent.
Savings on Commission
When taking into consideration median condo prices in San Diego, being able to pocket the customary 6 percent that represents the real estate agent’s commission makes a lot of financial sense. This advantage may also allow greater flexibility when negotiating the final price. All the same, statistics compiled by the National Association of Realtors indicate that FSBO transactions tend to close 13 percent cheaper when compared to those handled by agents.
Overall Security
Even though San Diego is generally considered a safe housing market, sellers who choose to list on their own are effectively removing one layer of security. 92101 real estate agents have experience showing properties and evaluating the security situation. In some cases, they only schedule showings when sellers are present or when they can bring along an assistant or colleague.
Learning Curve
Depending on the individual, this can either be an advantage or disadvantage. Those who were interested in the process of getting to the closing table when they purchased their properties will probably enjoy managing their FSBO transaction and learning about the intricacies of the real estate market, and there is quite a bit to absorb. Retired homeowners are bound to have more time to learn. However, the same cannot be said about busy professionals who may feel overwhelmed by the process.
Efficient Marketing
Marketing is an aspect of the sales process that real estate agents truly excel at. Being able to showcase a property in the Multiple Listing Service (MLS) is crucial these days because most property searches are conducted online, and the MLS plugins agents use tend to feature higher on search engine results pages. Moreover, real estate agents can apply the staging process instead of simply listing the property. Staging is an elaborate marketing method that yields better results and attracts qualified buyers.
From Columbia District to Cortez Hill, San Diego condos, lofts, and penthouses are in high demand right now. If you own a property in downtown San Diego and are looking to sell, don’t take the FSBO route. Instead, speak with one of the friendly and knowledgeable agents at 92101 Urban Living. Schedule an appointment today by calling 619-649-0368. ')}