For Sale by Owner Guide
I will be posting some helpful informationÂ on For Sale by Owner.Â
Why am I providing FREE information to you is because the day you decide that you are no longer interested in selling your house on your own. All I'm asking forÂ in return is to be interviewed for the Seller's Agent position.
(If you are planning to sell your house outside of New Jersey, I will be glad to connect you with a Realtor in that state.Â So, he/she may help you sell your home.)
There are many great resourceful informationÂ on Trulia, Realtor's web-sites, at Barnes & Noble, other books stores, seminars, and especially on the internet.
If I can help you save a little money here and there, I will do so.
Today, we will talk about the Top 10Â Challeges:
Â 1.Â Â Virtually every buyer buys by comparison.Â Having only one house to show Â Â prevents you from helping the buyer do comparison shopping; be able to substantiate the price.
2.Â Â It is difficult to determine the tastes and requirements of a buyer if you have not had the opportunity to fully qualify him/her before hand.
3.Â Â Do you have the legal expertise to personally prepare a valid and fully enforceable contract? If not, be sure to have an attorney review all documents.
4.Â Â Buyers are reluctant to discuss their finances with the other principal.Â Most sellers fail to ask for a credit report, source of down payment, as well as other information critical to determining the buyersâ€™ credit worthiness.
5.Â Â If you have to call the buyer back yourself, you are weakening your bargaining position and may give the buyer the impression that you are desperate to sell.Â A seller who seems anxious usually receives less money for their home.
6.Â Â Â Buyers normally will not discuss disadvantages or shortcomings they feel are present in your property.Â Thus, because you do not know what their objections are, it is virtually impossible to overcome them.
7.Â Â By showing your property to whoever calls on your ad or signs, you will often waste valuable time doingÂ showings for unqualified prospects.
8.Â Â Buyers, who know you are selling For Sale by Owner, almost always deduct the six percent off your asking price.Â You are essentially viewed as a â€œwholesalerâ€ and thus, buyers expect to pay a wholesale price, rather than a retail price.
9.Â Â Obtaining the name and phone number of everyone who calls is often difficult.Â Buyers are often reluctant to provide strangers with accurate information about who they are and what they can afford.Â
10. For most sellers, their home is their most valuable possession.Â Are you willing to risk having your mostÂ Â valuable possession sold by someone other than a well-trained, seasoned professional?Â A knowledgeableÂ mortgage loan specialist can be an asset in helping the process go smoothly.