Many believe that to get the best price on a home, you need to sell it. Why pay thousands of dollars to work as a broker who can do it for you? Although nearly 25 percent of homes sold last year, owner sales said at least half a pro next time.
This doesn’t mean you can’t complete a successful sale without a professional, but a homeowner should understand the risks and be as organized and informed about the selling process as any agent. Here are some key points to consider before deciding to fly solo.
property value
The realistic price of your house is essential for the successful sale of your property. If it’s too low a price, you can potentially lose money. If the price is too high, you can also lose money because the accumulated cost of the house stays on the market longer. Two years ago when I sold my house, there was a final sale by owner in the same neighborhood. The property was way more expensive than it was worth and last I heard the place was still for sale.
Determining the value of your home requires a thorough understanding of your market. You can start doing comparative studies of similar properties for sale or recently sold in your area. It’s probably a good idea to hire an expert to give you an exact market value.
Marketing
A good broker will promote his house on his own website, the MLS website, in print, and by word of mouth. You have to compete with this strategy to promote your property effectively. Your house must stand out from all other listings and agents must sell the higher the cost of marketing.
A good place to start is with one of the many “for sale by owner” sites online that offer reasonable type of advertising packages. You can also promote a cash incentive from the sale initiated by a real estate agent, or you can experience some open scattered houses.
Commitment
One of the biggest contributing factors to a home staying on the market longer than necessary is the owner’s lack of commitment to viewing the home regularly, and that includes organizing and promoting open houses. A certain period of time must be devoted each day to selling your home.
dealing with clients
One thing that real estate agents are very effective at is filtering serious buyers through window displays or low ball. You will learn to deal with these people and not fall for an offer you will later regret.
Providing useful information to the prospective buyer is primed for your credibility. A real estate agent is still waiting to answer questions about financing options, the cost of home repairs in relation to acquisitions, recommendations for home inspectors, attorneys, etc.
Meet the experts
Familiarize yourself with the inspectors, attorneys and representatives involved in the title of your sale. You don’t want a delay in the process, choosing the wrong people to be treated.
Legal information
Closures have been reduced due to inaccurate or incomplete documents. Have the necessary legal documents ready and know the process inside out. Financial incentives or inclusions must be documented, signed and dated, verbal agreements do not count.
