don't, your home might not sell as quickly as you hope. You might not
attract offers from qualified buyers and this can be frustrating.
your own home is a complicated process and there are many important things
Do you know the area market and current market conditions?
Many factors influence the real estate market and changes can occur
rapidly. Knowing the market is important, not only in setting your
selling price, but also developing realistic expectations about the time
it may take to sell your home.
Do you know how to best price your home for sale? Correctly setting your
asking price is critical. Setting your price too high can be as costly
as setting it too low. Home prices are determined by fluctuations
in the marketplace, not by your emotional attachment or by what you feel
your home is worth. In order to establish a realistic price for
your home, objectively compare the price, features and condition of all
similar homes in both your neighborhood and other similar ones which
have sold in recent months. Carefully budget your selling costs
and prepare a net proceeds sheet to calculate your best estimate of what
you will take away from your home sale. Prospective buyers may
also request this kind of analysis of buying costs.
Do you know to negotiate the terms of the
sale? Terms are often as important as price in today’s market.
Are you objective in preparing your home to meet buyers' expectations? First impression is crucial. Make sure your home makes a
positive statement by carefully inspecting all details and viewing it
through the objective eyes of a buyer. Don’t gloss over needed repairs and
fix-ups, as your prospective buyers won’t. Your job is to ensure that your
home stands out favorably from the competition.
Do you know all the contracts, legal documents, and forms that must be
completed and signed by all parties?
surprisingly, there are many important legal contracts and documents
which you must assemble, complete and understand.
Do you know how to market your home effectively to independent home
shoppers and those already using a Realtor?
Some buyers can be reached
through the newspaper, but this is only a small part of the market you
are after. Recent studies show over 40% of home buyers now use the
internet in their search for a new home. Be sure you include the
many buyers who could already be working with a Realtor®. To
locate them, target as many top agents as possible in your market to see
if the criteria of their buyers matches that of your home’s.
Because out-of-town buyers are also an important target, you should
create a strategy to reach these people as well.
Are you prepared to answer the phone at all
hours and have your home ready to show whenever someone rings the
doorbell? You must be very service-minded and make it easy for
pre-qualified buyers to view your home.
Can you remain objective when you are showing
It can be difficult to
overcome objections and field criticisms without becoming emotional and
Do you know how to qualify prospective home viewers and research
You can waste a lot of
your time entertaining buyers who could never afford your home.
With today's privacy laws, it is increasingly difficult to research
their financial steadiness with respect to job security, salary, debts,
liabilities, and credit standing.
Do you know how to negotiate and process a qualified sale offer? There will be many
details to resolve before a sale can be considered final: price,
terms, inspections, possession date, buyer concerns and objections.
Make sure you fully understand the contract you have drawn up so you can
in turn explain details and ramifications to the buyer and make any
amendments to the sale that are necessary. The contract you use
should be thoroughly examined by your real estate attorney. While this
is going on, manage the buyer’s interest in your home, so that it
doesn’t wane during negotiations.
Do you know your buyers? It is
essential to determine what your buyer’s motivation is. Does he or
she need to move quickly? Do they have enough money to pay your
asking price? Knowing this information will give you the advantage
in the negotiation because you will know up front what you will need to
do in order to get what you want.
Do you know how to calculate your selling costs and net gain? To analyze whether or not
you will end up ahead by choosing to sell on your own, consider the fact
that MOST BUYERS DO USE A REAL ESTATE AGENT because it doesn’t cost them
anything for this service (i.e. the seller pays the agent’s fee).
You must also be cautious as buyers, investors, and speculators who seek
out FOR SALE BY OWNERS are typically those in search of a bargain.
The low-ball offers from these types of buyers will often NET YOU MUCH
LOWER in the long run.
You will have to judge for yourself:
Are you prepared to handle all marketing, negotiations,
evaluations, showings, and all legalities?
What will it cost you to effectively market your home and
assemble all necessary materials from the “for sale” sign to any
What price will a buyer offer you as a For Sale By Owner
minus the costs identified above?
Is this net price higher than the price an experienced
agent could net for you minus his/her commission?
like to discuss how I can help you sell your home, please
contact me. I will work with and for
you until you are 100% satisfied.