The question asked for disdvantages of " selling my house myself "so I read the question and answered it, naming some of the disadvantages.
I never said that FSBO cannot be successful: so neither did you read the question, nor read my answer.
Please don't accuse me of bias where I offer an educated answer to a simple question.
Some Realtors here provided the pros and the cons, which certainly was more than what was required and certainly not requested. Clearly in those cases there was no bias and in other cases it was merely an opinion. The bias my friend may just be yours.
Can you Price?
Can you Negotiate?
Do you understand the forms?
Can you fill out the forms?
Can you evaluate a Credit report or a Pre-approval?
Can you evaluate a Mortgage Commitment? (do you know what they are and what to ask for?)
Are you good with deadlines?
Can you negotiate a home inspection?
Are you available 24/7?
Are you willing to take between 3 to 6 % from your asking price? (did you think that the buyer would let you have those commisions just because?)
Do you have an advertising and marketing budget?
Do you have Realtor connections?
Are your Sundays free?
Can you deal with rejection?
Can you deal with knowing that people will be polite and never tell you what is wrong with your home, and you will never know what you need to do to remidiate it?
Do you have a saleability check list?
I can go on and on.
It's a crazy market and statistically, For Sale By Owners sell for less than what you would have gotten with a Realtor but I wish you the best of luck.
Typically, almost 89% of buyers utilize the internet in their home search process according to a National Association of Realtors survey in 2011. Utilizing a real estate agent will allow mass marketing through the local Multiple Listing Service that all local agent utilize for their buyers as well as having the listings filter to most major search engines that buyers use.
Short of this marketing to capture both local buyers and relocating buyers, people will only see the home when driving by. So the right buyer has to be looking on your street to see the home. Typically this makes most FSBO sales very, very long. Also, when a buyer sees it, you have to be home when they ring the doorbell unless they call. A real estate agent can set up showings through a scheduling service so buyers can look when they are available instead of looking when you are available.
Lastly, utilizing an agent will streamline the contracts, disclosures, timelines, etc. and allow them to capitalize on their network of related colleagues as needed for mortgages, home warranty's, escrow agents, insurance agents, inspectors, etc.
If you choose to sell yourself, I wish you the best, but I think there are more advantages with utilizing a real estate agent in your area. Good Luck.
Here's my take on it.
It used to be easy to be a backyard mechanic. Over the years the number of things that you could easily fix on a car has declined to almost zero these days except for light bulbs and maybe a flat tire and then again that's why I have AAA.
You could try and sell your house yourself and every now and then someone does. But in this market it makes less sense than it ever did. And statistically it's been shown that the money the seller gets in their pocket at settlement is higher even after paying a commission than doing it yourself.
The intricacies of the deal, the cost to promote it, the tougher requirements for buyers to qualify for a mortgage and the risk you run by making the property stale before handing it over to a realtor later like so many do suggest using a real estate professional from the start pays.
If you live in Bucks, Montgomery, Mercer or Hunterdon Counties and you're open to talking to someone you can trust and feel comfortable with, I'd be glad to share what I know and hopefully earn your business.
Associate Broker licensed in PA and NJ
Keller Wiliams Real Estate
2003 South Easton Rd, South Bldg, Ste 108
Doylestown, PA 18901
Office: 215-340-5700 x 166
You need to price your home RIGHT, i.e. not what you think you want for your home, nor what YOU think your home is worth..... it is worth first of all what a ready and willing and approved buyer is ready and willing to pay for it, and you can accept or reject that offer, But more importantly your home needs
to be not only priced right, prepared right, but also marketed and advertised in all kinds of possible venues, which a Realtor and his or her Brokerage can provide....
Staging is another efficient way to get a home sold faster and at a better price....
And then remember that you are emotionally involved in your home, it is not just a house to you it is your home and when it comes to negotiating with a Buyer your home has value to you as YOUR HOME, to the buyer though at this point of negotiation is not yet a home, just a house / a commodity
he or she wants to pay a certain amount for.....
And in today's market it could take a long time to find the right buyer for your home, you really want
a Realtor to be on your side, to make the entire process easy for you and at the end successful.
Take this into consideration~!
Good LUck to you
Edith YourRealtor4Life! Working always in the very BEST interest of her clients! Buyers and Sellers and relocating buyers alike....
Your Chicago / Northern Illinois and North Shore Connection providing all clients with the very BEST
services, detail oriented, pleasant to work with, and honest when pricing a home for sale, or showing you a home to buy, once you make an offer Edith will provide you with the best Comps to make a
reasonable and competitive offer
STEPS TO SELLING YOUR OWN HOME
The best way to sell your home is to hire a professional but if you insist on doing it yourself here are some tips to help you along.
Carefully research the local real estate market. Look for recent sales prices in your neighborhood for properties similar to yours. Then set a realistic price for your home based on that information.
2. Evaluate your property
Make a check list of all the items that need repair or replacement. Look at your home the way a buyer would. Paint, clean the windows, refresh the landscaping, replace anything worn or broken.
3. Fix It
More than ever buyers want properties in move in condition. Donâ€™t wait, fix it before you begin marketing your home.
Determine which internet sites, newspapers and real estate magazines will best advertise your property. Call them for rate and deadlines and set up a schedule.
5. Attract the right buyers
Prepare a professional attention getting ad that will attract the right buyers to your property. Place your ad in the newspapers. Upload your information and photos to the internet. Remember with photos, more is better.
6. Post a Yard Sign
Purchase an eye catching and weatherproof yard sign, install it in front of your property.
7. Conduct an Open House
Purchase special â€œopen houseâ€ signs and position them on streets that lead from the main roads through the neighborhood and to your property. Put these signs up each time you hold an open house (and be sure to take them down after each open house). Be certain that they conform to any local sign ordinance.
8. List Key Features
Prepare a fact sheet outlining the specific features of your home and the benefits to prospective buyers.
9. Be Available
Be available at all times to walk through the property with prospective buyers, answer their questions and offer information about the community explaining why itâ€™s great to live there.
10. Return Calls Promptly
Respond to telephone and e-mail requests for information promptly. Learn how to separate the â€œlookersâ€ from legitimate buyers. Ask for contact information (names, address, e-mail, telephone) and be sure to follow up with telephone calls. Request feedback as to how they found the condition of the home and their opinion on the price.
11. Keep it Professional
Be prepared to negotiate with the buyer as though you were an independent third party. Do not be upset about criticism of your home. Remain calm and refrain from any emotional outbursts.
12. Cover the Details
Negotiate with the buyer all final terms of the sale including price, deposits, financing, inspections, date of closing and other pertinent considerations. Donâ€™t forget that you will need to move. While marketing this property, locate and negotiate the purchase of your next home. Schedule both transactions so that they close simultaneously.
Good luck with your endeavor and when you get tired or fed up call a Realtor.
Is it impossible to do a FSBO, absolutely not. Do you have be be smart, educated and have a thorough understanding of the process, absolutely!
As far as no one showing FSBO's, also untrue. Ladies and gentleman, you are really showing your bias. I have used three agents within the past 13 years. None (and I repeat NONE) of them did anything that I could not have done myself and saved myself A LOT of money!
I subscribe to an electronic lockbox service, meaning that the lockbox I put on your front door is going to ONLY be able to be accessed by other agents showing the property. It will track who comes in and out of your front door at all times. In addition I subscribe to a centralized showing desk, which allows other agents to book appointments online and via the phone. If you are coordinating your own showings, you may not realize but you are indirectly telling potential criminals when you will and won't be home.. if they call and want to come by on a Tuesday at 5pm and you say that won't work, now they know that the house will be empty and it's the prime time to break in! I know this sounds a bit extreme, but personally the safety associated with the electronic lockbox and the centralized showing desk are two very key things to keep you safe in your home while coordinating showings.
And of course, if you reconsider selling yourself.. I'd be happy to meet with you!
I put a free 1-year home Warranty on every home I list.
I wish you the best of luck, no matter what you decide!
As a Real Estate Professional i can list a few.
Here are several Articles to read it will go into detail why you should or should not do it.
To Sum up:
* There is no commission to be paid.
* The proceeds are all yours.
* You are in total control of the process. You can sell it at your own leisure.
* You have full control of showing your home and can pick and choose who you want to show.
* If your equity is low, you may be able to sell your house without having to write a check.
* You must rely solely on your own instincts.
* All marketing and advertising costs are your own.
* You have to advertise yourself and find prospective buyers.
* Without the knowledge, you may under price or overprice the house.
* If you are not skilled in negotiating you might not get the full value of your property's price.
* All of the paperwork, legal forms, etc. are your responsibility.
* This will take up a lot of your free time.
* You must become knowledgeable in legal and financial issues to be most effective (and to protect yourself).
If you change your mind and decide to hire a real estate agent please consider me as your option.
You can read my reviews on Trulia and Zillow.
Realty Mark Cityscape
267 738 0886
If you have more questions or would like a free market analysis on your home, feel free to contact me directly:
Coldwell Banker Realty Corp