10 More Tips For Selling Your Own HomeWritten by Steve Gillman
Selling your own home can be a time-consuming and frustrating process. Sometimes, though, in right market, it makes sense to save thousands of dollars in commission and do it yourself. If you've decided to give it a try, use tips here to do it right, and to avoid common FSBO (for sale by owner) mistakes. 1. Understand value. It isn't what you think your house is worth, and it doesn't even matter how much you put into it. It is only what it's worth to potential buyers. Find out what they have paid for other similar homes before you decide on a price. 2. Be objective. This is a difficult one. You may want to get your most honest and outspoken friend to walk through house with you. He'll see problems you didn't know were problems. 3. Have a plan. What will kids or wife say to those who call? Where will you be closing? Will you have documents prepared by an attorney? A plan will help it all go smoother. 4. Make a list. What needs to be fixed, cleaned, changed, or removed? Do most obvious things first. 5. Be a prepared salesman. List every question a buyer might have, and be ready with an answer. Have comparison sheets showing other home sales, so buyers can see value. Have a map showing where nearby stores and libraries, etc. are. 6. Sell benefits. Don't say "near stores." Say "You can walk to store in five minutes." Don't say "garage." Say "No chipping ice off windshield in morning."
| | Dont Be A FSBO SellerWritten by Steve Gillman
Don't sell it yourself! Sometimes a "FSBO," or house "for sale by owner" can sell as fast, and for as much as it would have if listed with a real estate agent. Sometimes. Before you decide to give it a try though, consider following ten points. 1. Most buyers work with agents, and look through MLS listings. If you don't list with an agent, most buyers will never see or hear about your home. It's hard to find that "right" buyer or get top dollar when your invisible to most of market. 2. FSBOs get lower offers. It's only logical. The buyer thinks you'll take less because you're saving commission! Save $10,000, get $10,000 less - where's advantage in that? 3. You pay advertising. All costs real estate office normally pays are yours if you sell it yourself. How much will you spend on ads if it takes a a year to sell? 4. You don't have resources. The agent has books of sold properties to look at, for example, to determine best price for your home. You can get that information by digging through county records, but you do have to value your time too, right? 5. You may not know market. What's target market for your house? Young couples, retirees? What features are they looking for? You should know these things before you write your ads. An experienced real estate salesperson will know. 6. You may not know laws. What about written disclosures, and who pays real estate transfer tax? Just because you sell it yourself doesn't mean you get to ignore laws.
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