For Sale By Owner: 14 Questions To Ask Before You Wait
The number one reason home sellers try to sell their home themselves is to save money or facilitate an unconventional deal with a buyer for a unique reason. Whatever the motivation, it’s important to ask yourself these questions to get an overview of what the sale of your home will entail. If you have any additional questions regarding the sale of your home, please contact a local agent for a free consultation. Also, don’t be discouraged if you don’t like the first person you come into contact with. It is normal for a seller to look for the right agent. Buying and selling homes will be one of the most important transactions of your life and should be treated as such by both you and a prospective agent.
Have you asked yourself…
1. Do you have the knowledge, time, and sales skills to sell your home?
2. If a potential buyer makes aggressive offers, will you be able to strategically negotiate for yourself?
3. Do you know how to analyze market data and comparable homes to determine the exact value of your home?
4. Are you aware of real estate trends that could affect the selling price and timing of selling your home?
5. Do you know how to understand the finances and qualify a buyer for a loan?
6. Are you worried about letting strangers into your home?
7. Do you have enough knowledge of real estate contracts to create a legally binding contract, acquire all necessary documents and signatures, and include counteroffers in accordance with regulation?
8. Did you know that without a real estate agent, you are basically taking your house off the market every time you leave your house?
9. Did you know that many professional people and services are required to close the sale, including an escrow and title company, a home warranty company, inspection and pest control services, and a lender? Do you currently have these relationships in place?
10. Do you know if you need a real estate attorney to help with this transaction, how much it will cost, and how much responsibility you will assume?
11. Do you have marketing experience, specifically real estate, and the funds to commit to your strategy?
12. Did you know that potential buyers will likely expect your price to drop because there is no realtor paying a commission?
13. Did you know that there are advantages and disadvantages for the seller depending on the type of loan the buyer chooses?
14. Are you prepared to spend a lot of time, during evenings and weekends, when it’s most convenient for potential buyers, to show off your home?
Before you decide to sell your home yourself, consider the benefits a real estate agent can bring you that you may not currently be aware of. Because transactions facilitated by a real estate agent typically sell at price points 15% higher, the benefits you receive from paying your real estate agent their average 6% commission typically far outweigh the benefits of selling. his house alone.