Monday, March 2, 2020 / by Karey Kendrick
How to Sell Your Home as a For Sale By Owner
Today, I am going to begin a two part series on how to sell your house without an Agent as a For Sale By Owner.
Inside the FREE report we’ve created, you'll find 10 insider tips to selling your home by yourself which will help you sell for the best price in the shortest amount of time.
You'll find out what real estate agents don't want you to know. On today’s video, I am going to cover 5 out of 10 Tips, subscribe to our Channel to get notified next week when I will cover the remaining 5 tips.
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 dreams of selling their homes themselves.
But don't give up until you've reviewed these tips and ordered our free report entitled "Sell Your Own Home" which has been prepared especially for homesellers like you. You'll find that selling your home by yourself is entirely possible once you understand the process.
Today, I am going to be highlighting 5 Tips:
1. Price it right
2. Prepare your home for sale
3. Prepare Yourself with All necessary legal documentation
4. Market Your home effectively
5. Remain objective during a showing of your home
If you ask anyone who has ever tried to sell their home themselves they'll tell you that from the moment the "For Sale by Owner" sign goes up, the phone begins to ring. Unfortunately, many of those calls will not be from prospective buyers, but rather from real estate agents looking to obtain your listing. Obviously the idea of not having to pay a commission to a real estate agent is attractive to any homeseller. But because of all the issues involved in the process, selling a home on one's own can be challenging as many homesellers will attest to.
The key is to be properly prepared. If you are not, your home could remain on the market longer than you expect because you are not attracting and getting offers from qualified buyers. This can be a point where many homeowners become frustrated and consider giving up their dream of selling their home themselves. However, there are sellers who accomplish selling their own homes, very well. You can be one of them.
These tips have been especially prepared to assist homesellers, such as yourself, understand the elements involved so you, on your own, can sell your home quickly and for the most amount of profit. To help you prepare, here are the 5 inside tips that you should be aware of before you make the decision as to whether or not this is the right approach for you. (And don’t forget to tune in next week for Part 2 of our How to Sell Your Home By Yourself Series.
Price it Right...
Correctly setting your asking price is critical. Setting your price too high can be as costly as setting it too low. Home prices are determined by fluctuations in the marketplace not by your emotional attachment or by what you feel your home is worth. In order to establish a realistic price for your home, objectively compare the price, features and condition of all similar homes in both your neighborhood and other similar ones which have sold in recent months. It is also important for you to be familiar with the terms of each potential sale. Terms are often as important as price in today’s market. Carefully budget your selling costs and prepare a net proceeds sheet to calculate your best estimate of what you will take away from your home sale. Prospective buyers may also request this kind of analysis of buying costs.
Prepare Your Home for Sale...
First impression is crucial. Make sure your home makes a positive statement by carefully inspecting all details and viewing it through the objective eyes of a buyer. Don’t gloss over needed repairs and fix-ups, as your prospective buyers won’t. Your job is to ensure that your home stands out favorably from the competition.
Prepare Yourself With All Necessary Legal Documentation...
Not surprisingly, there are many important legal contracts and documents which you must assemble, complete and understand. A partial checklist of forms that you will require for prospective buyers and for legal documentation is as follows: Seller Disclosure • Purchase Contract • Mortgage Payoff • Loan Application • Deposit Receipt • Property Profile Fact Sheet • Buyer’s Cost Sheet • Closing & Settlement • Personal Property • Exclusion List • Property Survey • Sellers Statement /Plot Plan of Representation
Market Your Home Effectively...
Beyond the sign you will put on your lawn, you should find effective ways to spread the word about your home. Local buyers can be reached through the newspaper, but this is only a small part of the market you are after. Be sure you include the many buyers who could already be working with a Realtor®. To locate them, target as many top agents as possible in your market to see if the criteria of their buyers matches that of your home's. Because out-of town buyers are also an important target, you should create a strategy to reach these people as well. Above all, you should be very service minded and make it easy for pre-qualified buyers to view your home. Ensure there is always someone available to answer the phone, pick up messages promptly, and be ready to give qualified prospects a tour of your home as soon as possible.
Remain Objective During a Showing of Your Home...
Keep emotion out of the sale of your home, and the best way to do this during a showing is to remain physically in the background. If a prospective buyer says something negative about your home, it is better to counter-balance this point of view by illustrating the positives rather than becoming defensive.
Thanks for Watching. If you enjoyed this video and you feel like it was valuable in educating you on things you can do to help with the home selling process, subscribe to our channel, like this video and share this video with your friends.
Check out Next Weeks Video for part 2 of this series. Thanks again for watching.