Selling By Yourself

Managing your for sale by owner risks.

You can get rid of the broker, but you cannot get rid of the broker’s work…

The GOAL: To get the highest possible price in the shortest amount of time with the least amount of risk.

If you intend to offer your home For Sale by Owner (FSBO), pounding a sign in the front yard is a great start. But that’s the beginning. Selling a home takes time and involves many issues that may not be obvious. A seller has many legal obligations to the buyer. Failure to fulfill them can result in big headaches. Errors can be costly. For example, depending on when your home was built, lead based paint disclosures are required by federal law. Completed property disclosure forms should be up to date and sanctioned in your state. This is important.

Even if a simple sign in your yard did produce a buyer knocking on your door, how will you handle the following:

“Will you work with my Realtor?”

"How does your home compare to others like it around here?" 

"How did you determine the fair market value of this property?"

“The house down the street is nicer than yours and is more affordable.”

“Can I come inside your home and look around?”

"What about financing? Can you help?"

“Can I come back this weekend and bring members of my family?”

"If I make an offer, who will draw up the paperwork?"

“What about title work and title insurance?"

"Why aren't you using a Realtor?

Is there something wrong with the property?" 

“How long has it been on the market?”

"Since you aren't using a Realtor, can we just take their fee right off the top?”                       

How will you handle objections? Are you talking with qualified buyers? Are you legally required to replace the 30 year old water heater? What about escrow? The title company? What if the buyer’s lenders decide last minute they don’t like the property? What about latent defects? Who’s required to tell the buyer of known upcoming tax assessments? What if your buyer doesn’t obtain insurance in a timely manner?

The number one reason people decide to sell by themselves is to save money. I can overcome your commission objection by netting you higher proceeds—faster with fewer problems, keeping your personal time involved to a minimum. Realtors don’t get paid unless your home is sold. Your REALTOR pays all your advertising costs---that’s signs, flyers, mailings, newspapers and magazines. That includes virtual tours and photos for the MLS and the internet. (By the way, research shows more than 85 percent of buyers find their home using the internet.) I’ll make certain all those buyers can find yours.

It’s true most FSBOs wind up listing their home with a REALTOR after a few months. Almost all homes are sold using a REALTOR. A good one can preserve as much net equity as a FSBO would net. Now who knew a REALTOR could be worth their weight in gold?

Managing your risk using a REALTOR is just plain smart.

If you must sell your own home, at the very least, let me give you a sense of its true market value. Tell me about your home and I’ll do a quick Comparative Market Analysis and let you know what I feel it’s worth. As a top agent, I’ll also describe how I would market your property. This is free with NO STRINGS. Honest.