Think Twice Before Trying To Sell Your Home Yourself
So you want to put your home up for sale by owner or FSBO for short
. Employing a full service agent can be costly, but so can selling your home by yourself. It is possible to sell your house by owner to save a bit of money, but it is important to be aware of the costs of your new venture. It is costly to put a home on the market. Marketing costs, hiring a real estate attorney, preparing the home, and showing your house all add up quickly! Mistakes and overlooked steps in the selling process can cost money, thousands more than it would cost to hire an agent when you sell a house.
There are options besides hiring full time Realtor. Instead of hiring a full cost agent, there are discount brokers out there who work for lower commission rates than most realtors. Another option is to use a listing service to post your home on the MLS, multiple listing service, which is the primary database used by Realtors to search homes for sale in the area. There are multiple web sites as well where you can list your house for a flat fee. FSBO.com is a good place to start, but there are several which a simple internet search will display.
Set a realistic price! When buyers see a sign in the yard of a house for sale by owner, often they do not know what they are going to find. Is this home going to be drastically higher than the comparable homes in the area, or is this home the "golden opportunity home," listed far less than it is worth. Unfortunately, many people do not research comparable homes selling prices, and after calling on several homes which are for sale by owner, buyers get discouraged. I worked with one buyer who refused to waste her time on any homes for sale by their owner because the first handful she called on were outrageously priced
Look at your county assessor's web site for comp prices by your home and research the prices of other homes for sale in your area using Zillow.com, Trulia.com or Realtor.com.
Get some help. Hire a real estate attorney! Save yourself a lot of agonizing over documents trying to figure out what to do. Additionally, let them ensure everything is in order and accurate. This will save you costly mistakes and a lot of time.
Selling a home is a full time job. To sell your home quickly, there is a lot of work which needs to be done. Fortunately, the internet ends a lot of the legwork with the touch of a few buttons. It is also a good idea to put your home on craigslist.com and even ebay.com.
Additionally, you will need to put up a sign with flyers of professional photographs and enticing descriptions. When describing your home in the ads and on the flyers, be brief and to-the-point. Browse through ads in the paper and find the ones which stand out to you. What grabs your attention, and makes you want to view their home? Now, just write a similar styled description of your own homes features.
Be careful of what lurks in the shadows. Unfortunately, not all the people you encounter will be courteous and pleasurable to work with. One way to weed out any undesirable inquiries is to get the phone number of the interested party. Invent a reason to contact them to be certain the number is a working number. Screening will also be necessary to determine who can actually afford the home. Many people just start shopping for a home with no information on what they can afford.
There are a lot of questions to ask yourself when deciding if you want to go the, for sale by owner, fsbo, route. Educate yourself on the process and experiences of others, and you might find it is not worth the hassle. Are you going to be saving enough money to account for all the time and effort it takes?
by: Leo Kingston
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