Pros And Cons Of Selling By Owner
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?
Advertising Your FSBO 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!
Get a Sign
You are going to need a professional looking sign to post in front of your home. Although you will be finding prospective buyers from other avenues, you can’t forget the valuable ‘drive-by’. This also allows you to benefit from ...
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Describing Your Home
Selling your home takes time and resources so you only want to go through the trouble of showing your house to prospective buyers who are really interested in the kind of house you have. Here’s some things to think about when describing your home for sale.
Materials
Is your home wood or concrete construction? Are the water pipes made of copper, iron or plastic? What is the exterior material used; stucco, brick, wood, plastic siding? What kind of insulation do you ha ...
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Evaluating Your Home For Sale
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.
Although this part will take a little work you will be better prepared and have an easier time finding a buyer if you do your homework. Real estate agents are familiar with the current market – what houses are sel ...
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