Selling by yourself requires commitment of time (weekends and nights) and energy (ready to go at any time). With knowledge, common sense and patience, you can sell your own home in time. If you have never sold a home, it can be challenging, you must be willing to do the work necessary to market your house and work with potential buyers. Some common myths about selling your home on your own: Save Money on Commission Fees (True, but how much is your time worth?) Protect the Equity in Your Home (Maybe, depending on what you spend in time and marketing your home.) Keep the Selling Process in Your Control (Of course this applies even with using an agent. Your are hiring an agent for their knowledge and marketing, but bottom line you are still in control if you choose to be.) Selling on your own is not the answer for all sellers. This can take more energy and commitment on your part than if you were to list with an agent. You will need to be able to show your house at the buyer's convenience if you are serious about selling the home should be ready at all times. You will need to pay for advertising so that buyers know your house is available. You will need to know the law about what things must be disclosed to the buyer prior to a sale, look over any contracts, and ensure you do not inadvertently discriminate against potential buyers. You will have to negotiate directly with buyers, and with buyers' agents. You will need to find an escrow company to administer the closing. Selling on your own is not simple.
Pre-Sale Inspections
Home Improvement
Pricing Your Home
Prepare Your Seller Disclosure To get top dollar and a fast sell, you must put your house in the best possible shape. At least you should do the following:  Trim bushes, plant annuals, keep grass green and manicured
Unclutter the house - remove all extra furniture and clutter. All rooms should look roomy and orderly. Clean all the time - especially the kitchen and bathrooms. Make sure your carpets cleaned. Repair items like leaky faucets, running toilets and torn screens. This is possibly the most important thing you can do to sell it quickly and easily. Overpricing is one of the most frequent reasons FSBO sellers fail. Since there is no real estate agent involved to provide this "reality check", you must perform the check yourself. Please be realistic and remember the cost of your time. Types of Advertising: Online Advertising.
Offline Advertising.
Network Online and in Your Neighborhood.
Build your Sales Team.
Hold an Open House.
It is rare for a buyer to actually purchase at an open house Offer Agent Incentives.
Consider offering a commission to a real estate agent who can bring a buyer. Let the agents in your area know this by distributing your flyers to local real estate offices letting them know that you will cooperate with agents. Pre-qualify your buyer Some common issues: Buyer is offering low price (This is ok, just Negotiate) Buyer doesn't want to provide a pre-approval letter (Big ?) Buyer has offered a low Good Faith deposit or none at all (Negotiate) The mortgage terms do not seem reasonable (Another Big ?) Buyer wants you to pay some or all of their closing costs (Negotiate) Buyer has a house to sell before they can buy yours (Once you accept, it's a binding contract and your home most likley wont close until after theirs) Buyer wants an extended closing date (Time frame?) Buyer wants a quicker closing date (Time Frame?) Buyer wants you to hold financing for them (Your acting as the Mortage Co.) Buyer wants to do a lease/purchase (Tenant Law) Remember, you are competing with homes on the resale market, and homes in new home communities. Both are being sold by the pros. We wish you the best of luck. Please let us know if we can help with your sale in any way. Sincerely, |