Should You Sell Your Home Yourself?
Are you thinking about selling your home? Would you like to sell it by yourself instead of hiring a real estate agent? If so it would be beneficial to review the pros and cons of selling your home by yourself before hanging out the sign.
PROS
Selling your home without an agent means More Money. If that's not an incentive,
what is? By selling it yourself you save the fees or commissions (thousands of
dollars) that you would have to pay an agent.
You are able to decide the times for open houses and showings as well as where you
want to advertise. Because you are only selling one home - unlike an agent who is
working with many buyers and sellers ? you will always be focused on the selling of
your home. You will have more interest in the sale than a real estate agent who may
be looking for bigger commissions elsewhere.
CONS
Real estate agents are paid good money for a reason. Selling a home takes a lot of
time and energy. Open houses, dealing with potential buyers, closing sales and
dealing with the legal issues are familiar turf for these people and their experience
can impact the sale.
Be realistic about what you are willing to do. Will you drop everything to make a
showing? Are you able to 'close the deal' and ask for an offer? It is not everyone who
can take on such a big project or can handle the tension of dealing with buyers.
However, if the challenge excites you and if you are ready for hard work and willing
to learn then it is not impossible for you to manage alone. With a little know-how
and a lot of energy, you can sell your home without the help of a real estate agent
and reap the rewards!
Where do you begin?
Start with evaluating your home. How much can you ask? What work needs to be
done? How do you decide how much your house is worth without asking too much
and scaring buyers off or too little and not making what you should?
How Do You Evaluate Your Home?
Choosing the right price for your home is crucial to making a sale. You risk
everything if your price is too far off the current market. You don't want to
discourage buyers because you are pricing too high and you don't want to throw
away equity because of a low asking price.
Preparing Your Home for the Market
Now it's time to look as objectively at your own home as you did to other peoples'
homes.
Your prospective buyers will be scrutinizing your home; has it been taken care of or
neglected? Will there be expensive repairs or are they hiding something? Taking the
time to clean up and make repairs will repay you with confident buyers anxious to
make an offer on a home that has been properly taken care of.
How to Advertise Your Home
Don't worry. You've already done the hard work. Your research has been conducted,
your home has been cleaned and prepared and you have all the vital information
necessary to offer prospective buyers. Now you need to get the word out!
How to Show and Sell Your Home
You've done your research. You've priced your home, cleaned and freshened it up.
Your sign is hung out and you've worked hard on creating an intriguing ad. You told
everyone you know that you're selling your home. Now you wait for the phone to
ring. How do you handle calls from buyers? What do you ask? How do you get them
to come visit?
Legal Issues
Selling and buying homes requires legal paperwork. Writing contracts to sell your
home is tricky business and you do need a lawyer to help you. Find one by asking
for recommendations from family or friends or by looking for one in the phone
book. Ask for a consultation before deciding.
This article is excerpted from our new ebook "For Sale By Owner". To download your
copy, visit
ebooks.sagedot.com/fsbo.html
The ebook includes a seller checklist and sample legal forms.
Tim Robinson is the publisher of "For Sale By Owner".
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