Introduction
Selling a home, even for a professional, isn't always easy. There is much to consider and much to do in all phases of a home sale that needs to be followed.
Here, we'll outline some of these things so you can be better equipped to sell your home yourself.
Why would we do this?
While we would love to have your listing business, it is important to us to have a relationship with you. Chances are, you will be buying a new home after you sell the one you're in. We would like you to consider enlisting us to represent you as your Buyers agent. Furthermore, if for whatever reason selling your home yourself doesn't work out, we would like you to consider us in listing it as your professional.
Our Agency has an open-relationship policy with the FSBO market. When you see us offer a product for the FSBO market, it is with no strings attached. We do this because we want to have a positive relationship with you; That is our policy.
Get the Price Right First
It is critical to set your price to be competitive in your market without pricing it too low to where you lose money. Abana agents do this with a Comparative Market Analysis, known as a CMA. While it can be quite complicated on many levels, you should know what is involved.
You will need to investigate the price homes sold for recently in your area. It is important to understand that the market value of your home isn't just the money you put into it. It is highly related to what other homes have actually sold for in your area.
Getting the price right the first time also avoids being on the market too long or going through price reductions. Both of these produce a negative impression on your home thus slowing the sale.
Gather Details
There are many details involved in the sale of your home. Research and obtain forms such as seller's disclosure and contracts for your state. There is an abundance of material available on the Internet to sell your home. Or ask us for a FREE For Sale By Owner kit.
Pre-Market Walk-through
Make an objective walk-through of your home. Make a list of what needs to be addressed and tackle them before you put your home up for sale. The first browser may be your next buyer. Make your home the best it can be for them.
Exposure
Marketing your home and letting buyers know it's available is critical. We offer a free service to place your FSBO listing on our database which is displayed on the Internet at www.abanarealty.com. This includes a professional sign that will make your home more attractive to buyers.
Be a Bit Picky
Don't waste your time on prospects that either aren't serious, or are unable to purchase your home. Prescreen potential buyers if possible. Time spent on unqualified buyers is time wasted you could be spending on other efforts to sell your home.
Be Objective
This is tough on most anyone. Step outside of your roll as a home-owner and show your home as if you didn't own it. Do not become defensive when someone becomes critical of something in your home. Your goal is to help them see it as their home.
Negotiations
If you aren't a natural negotiator, take some classes or buy some books to improve your negotiation skills. Remember to be objective here as well. There is nothing wrong with negotiating the best possible price for your home. Handle this as you would handle buying or selling a car.
Financing
It is quite likely you will encounter potential buyers with financial issues. Do your homework first and prepare to advise and help them. Set up partnerships ahead of time with some loan institutions to help the buyer that doesn't quite have everything together with their financing. This will open your home to more potential buyers.
Closing
Closing the sale is the final goal of this entire endeavor. Research the details of this and be prepared. Line up closing attorneys early on so you'll be ready to move when an offer is made. Be sure to understand your state's legal requirements for the closing of a Real Estate transaction. Remember the closing attorney is there to represent the interest of the lender, not yours, so come prepared.
On The Line?
We are committed to a relationship with you. Even if you list your home on your own, we have free, no obligation, tools available to you. We do this because you are likely to be seeking a new home and we would like you to consider us as your Buyers agency. We also offer Fee For Service products that will help you with many of the details we've outlined here.
If you're "On The Line" as to whether or not you want to sell your home yourself or not, we suggest you use some of the following guidelines in your decision.
If you're at this point because you feel you don't have the equity in your home to pay a listing side commission, often the engagement of a listing agent will help your home market for the amount needed to cover the cost. You win because we will take care of all these details for you, and you often net as much, or more. In any case, you've given your home every advantage to sell and sell quickly.
If you do not plan to offer a buyer's side commission, we strongly urge you to reconsider. You are greatly handicapping the visibility of your home. Including a buyers side commission will make the entire Real Estate community in your area an asset to you and your efforts.
Also remember this decision isn't an all or nothing decision. If you decide to market your home yourself, we offer a wide range of Fee For Service products to help you. And remember, you can still list your home on our exclusive database and have one of our signs in your yard completely free and with no obligation.
This is our commitment to our relationship with you. No matter what you decide, we're there for you.
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