How to Sell Your Home
Without an Agent
Learn Inside Secrets to Selling Your Home Yourself
If you've tried to sell your home yourself, you know that the minute you put the "For Sale by Owner" sign up, the phone will start to ring off the hook. Unfortunately, most calls aren't from prospective buyers, but rather from every real estate agent in town who will start to hound you for your listing.
Like other "For Sale by Owners", you'll be subjected to a hundred sales pitches from agents who will tell you how great they are and how you can't possibly sell your home by yourself. After all, without the proper information, selling a home isn't easy. Perhaps you've had your home on the market for several months with no offers from qualified buyers. This can be a very frustrating time, and many homeowners have given up their dream of selling their home themselves.
Whether you list with us, as real estate specialists, or decide to sell your home by yourself, you should know the basics of the home selling process.
We know it's tempting to try to save the commission by selling the property yourself. A few people are comfortable in the role of "For Sale By Owner." You may be one of these people.
But before you undertake the monumental task of handling your own home sale, you should understand what it takes to sell a home in today's market, for the best price in the shortest amount of time and achieving a trouble free sale.
Price Your Home to Sell
To set a competitive price, objectively compare the price, condition and features of all similar area homes on the market now, as well as those that have sold inthe past six months. Be familiar with the terms of each sale - often today, terms are just as important as price. Prepare a net proceeds sheet to estimate how much you will actually gain from the sale. A prospective buyer may also ask for an estimate of buying costs.
Research Pre-Sale Details
Be prepared with contracts and forms to handle seller's disclosures, purchase contracts, mortgage payoff, deposit receipt, buyer's cost sheet, loan application, property profile sheet, settlement statement, personal property exclusion sheet, property survey, and other such matters, to help a buyer make a decision on your home and to satisfy many legal requiremetns.
Fix Up For Sale
Do a pre-selling walk-through inspection, noting all the repairs and fix-ups needed to make your home stand out from the competition. Complete the repairs before selling.
Maximize Your Home's Exposure
Spread the word about your home sale through advertising, open houses, and especially by telling everyone you know. Signs and ads reach only a small percentage of potential buyers - most buyers come from referrals of satisfied customers and cooperating brokers or buyer's agents, not advertising. Consider ways to reach out of town buyers. Be ready to answer the phone and give every prospect a home tour at the prospect's convenience.
Pre-Qualify Prospects
Make sure your prospects can afford your home and are truly interested in buying. Carefully analyze their their financial standing, including salary, debts, liabilities, job security and creditworthiness. Be prepared to follow up prospects with phone calls and email.
Show the Home Objectively
During the tour, stay in the background and let the prospect discover the home. Be careful no to become defensive if buyer points out flaws in your home. Lessen the impact of flaws by pointing out the home's compensating factors. Tailor your comments to fit the prospects' needs and interests.
Handle Negotiations
Try to keep interest in the sale high while you resolve buyer doubts, agree on the price, terms, inspections, date of possession as well as respond to any objections. Be prepared to explain the contract to the buyers and write amendments. Have the contract examined by your real estate attorney.
Provide Financial Assistance
Many buyers need assistance finding the right financing to help them purchase. Explain the pros and cons of different types of financing (contact your present lender for help) and identify the lenders who offer the various types. Thoroughly explain all loan documents and application forms to the buyers. Be ready to answer buyers' technical questions on loans, points, taxes, ownership costs, closing or settlement costs, title insurance and so on.
Handle Settlement Questions
Manage closing details carefully to prevent problems and a lost or delayed sale. Schedule inspections, conduct the buyers' walk-through inspection, obtain all necessary paperwork (including the legally required settlement statement), follow through with the lender and answer questions about closing details.
As you can see, the job of a professional real estate specialist takes more than just matching a buyer with a home. But you can only decide if the commission is worth it. Naturally we think it is. Whether or not you list your home with us, we're here to help.