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Selling your home? With
the potential rewards that can be gained -- saving $ 4000, $ 8,000, $
12,000 or more (minus your expenses) by not having to pay a Brokerage
commission, many people wonder why less than 20% of home sellers undertake
the task of selling their houses on their own. Possibly it has something
to do with expertise. Many home owners who consider a self sale of their
house back off when they see the level of knowledge and commitment that
is needed to do an effective job.
For Sale By Owner Homes?
Even if you decide not to contract our or other Realtor services, we can still help you with your For Sale By Owner home. As mortgage brokers, we have relations with many people looking to buy a new home. It is in our interest to find them houses that meet their needs. Because we will earn our fees from the lending institutions, the home owner and the home buyer can benefit from our connection. Also, because we are also Realtors, we often have relations with home buyers as their Buyer's Agent. Again, our fees would be paid by some one other than the seller. We can also help you set up open houses and showings, and post your home on the internet. Our goal here would be to gain access to the home buyers attending the showings to recruit mortgage clients. Selling real estate "for sale by owner" can be complex. We can help. Contact us today!
If you decide, however, that selling your home your self is the best option for you, you will find the vast majority of the information
on this Web Site to be of value. Most of what you will find here will
be geared to either doing the job yourself or monitoring the job that
your Agent is doing. The most successful home sellers are those who take
an active role in the process, whether it is as a sale by owner or a
sale
by an Agent.
If you feel that the best route is to sell your home yourself, then having
as much information at hand is crucial. Call us for a free consultation on how we can help you sell your own home! You will find many helpful hints
on this web site, and an excellent source of additional information is
Steve
Berges'
newly revised For
Sale By Owner. Steve details how to get the most out of your own
sales effort. This is a useful book for those using Realtors as well as
for those selling on their own. |
Photo Copyright © 2005 Paul Silver Photography
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Real Estate For
Sale by Owner
Advantages
Of Selling A House On Your Own
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There
is no Brokerage Fee (commission) to be paid. You receive all of the
proceeds (less marketing costs). This is, of course, the biggest
benefit of selling your own house.
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You are in total control of the transaction.
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If mistakes are made, they are your own. There is no one else to make mistakes "for" you.
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If your equity is low, you may be able to sell your house without having to write a check.
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You are always available at the home for showings, answering inquiries, etc.
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Disadvantages
Of Selling Your Home On Your Own
- You must rely
on your own instincts.
- All marketing
and advertising costs are your own, which can be an expensive proposition.
We offer listing and marketing services for sellers working on their
own. For more information, contact us.
- Unless you
pay to have your listing included, you will not have access to the
MLS -- the Multiple Listing Service. You must hunt for buyers one
at a time.
- Without all
the tools in hand, you may under price or overprice the house. Knowing
how much your home can be worth is one of the first steps in beginning
to market the property.
- If you are
not skilled in negotiation, you may leave money on the table.
- All of the
paperwork, legal forms, etc. are your responsibility and must be
handled by you.
- If you want
to give maximum benefit to your efforts, your free time will be
somewhat or severely limited.
- Many buyers
believe that if you are selling on your own and not paying a commission,
it is they (the buyers) who should get the saving -- not you.
- As you approach
negotiations, you must sever emotional ties with your house or you
will place yourself at a disadvantage.
- You must become
knowledgeable of legal and financial issues to be most effective.
Hints
on Selling Your Home on Your Own
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Tips provided courtesy of Home Sales RI - Focus Real Estate Group, Inc.
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Don't scrimp on your house preparation. Remember, you will be in competition with house listed by Agents who will coach their sellers on all aspects of preparing their homes.
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Be aware of all legal requirements for disclosures in your area. Not disclosing necessary information or not using the correct form could leave you open to legal action from a buyer.
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Become an expert in advertising and marketing for sale by owner homes. Make your house stand out!
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Familiarize yourself with offers and contracts now -- don't wait until you have one in your hand.
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Get maximum exposure. We offer a complete menu of services if you want to sell your home on your own. Packages available range from a comprehensive marketing plan up to a complete deluxe package that will market your property until it is sold and keep your home on the MLS and Realtor.com for 6 months.
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Be aware of equal housing laws. Not only is discrimination stupid (you limit your potential market), it's illegal!
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If selling your house on your own appears to be your best option, the checklist will be of great value to you. If you feel that using an Agent may be the way to go, see the section devoted to finding and selecting an Agent.
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