Sell My House Myself?
It's a question thousands of homeowners ask themselves every year. If you're one
of them, you have some difficult decisions awaiting you. Because selling your
home can be a long and complex process. So it's important to think about all the
potential implications - both positive and negative - before choosing to go it
alone.
To help you make the decision that's right for you, below is a list of some of
the duties and responsibilities you would face as an independent home seller.
Pricing Your Home
- Your first responsibility as an independent home seller is assigning
your home an accurate value, meaning the highest price a ready, willing and
able buyer will pay.
- As part of that decision, you need to consider comparable properties in
your area, current market conditions, as well as the cost of financing and
its availability.
- Remember that your listing should be in line with comparable properties
and market trends - you don't want your home to linger on the market or sell
for a lower price than you might have otherwise received.
- You should also remember that "For Sale by Owner" homes typically
attract bargain hunters who may expect you to lower your price since they,
too, are looking to save money on REALTORŪ commissions.
Marketing Your Home
- Independent home sellers must also market their properties to the
public.
- That means:
Putting up signage that is consistent with local ordinances.
Developing and paying for display and classified ads in your
local newspapers.
Holding open houses.
Working to ensure your home gets good word-of-mouth exposure
among your friends, neighbors and community organizations.
Showing Your Home
- As an independent home seller, you would be responsible for all showings
of your home.
- With that in mind, always encourage prospects to make an appointment,
and discourage drop-ins.
- Work to screen the "buyers" form the "lookers", curiosity-seekers are
common at "For Sale by Owner" homes.
- You should also pre-qualify potential buyers to ensure they can afford
to buy your home.
- When the time comes to negotiate, you'll need to be prepared and
informed.
- Try to resolve any doubts your buyers might have, work to keep their
interest high and make a final agreement as quickly and efficiently as
possible.
- Once an offer is made, agree on the price an terms, respond to
objections and try to be responsive and flexible to legitimate concerns.
Provided By: Council of Residential Specialists
(CRS)