The Run Down on FSBO

Because the overwhelming majority of homes that sell are listed with a real estate agent, you will be going against significant odds if you decide to sell your own home. The experience of a real estate professional may get you a better price and help you to avoid all the “little” things that can go wrong in a real estate transaction.

The desire to “save” the commission on a property is the reason most people decide not to work with a real estate agent. Prospective buyers who look for properties that are “For Sale By Owner” (FSBOs) are also wanting to avoid the commission–and to get a less-than-market-value deal. However, nothing is saved in the majority of FSBOs. Listing your home with a real estate professional can save you money, spare you the inconvenience of showing your home, and save you the time you would spend talking to buyers who could not qualify for a loan.

A Real Estate Agent’s Advice

A real estate agent may ask you to do some things that you don’t particularly want to do to in order to get you moved into your new home as quickly as possible.

When real estate agents advise you about what you can do to make the transaction work, they are acting as part coach and part business consultant. If you find the house you love and want to “sleep on” the decision for a few days, the agent knows that you run the risk of losing the house. If you are inclined to complicate your offer with clauses that might make the contract unattractive to the sellers, the agent may ask you to consider some modifications. Should you call the week before the closing with an attack of “buyer’s remorse”, your agent knows the cure. Following your real estate agent’s suggestions will increase your chances for a successful move!

Do These Real Estate Tips Really Apply to YOU?

I’ve learned these tips through years of experience as a top Realtor. But I know that YOUR situation might be different.

There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU. Interest rates, zoning and tax laws, new ways to market your home and enhance its value…

Before signing a contract with any Realtor, make sure you know EXACTLY how your home will be marketed. There is a vast range in skills, experience, and track records!

A “Listing Presentation” is an industry term for the formal presentation that a Realtor makes to prospective home sellers, trying to earn their trust and business. Don’t list your home with a real estate agent without it!

Tips on Showing Your FSBO Property

As a FSBO seller, you are responsible for handling all of the aspects of selling your home. So, how do you go about showing the property to interested buyers?

Tips on Showing Your FSBO Property

The huge advantage of selling your property for sale by owner is you save a ton of money on real estate agent commissions. At six percent a pop, the savings literally amount to tens of thousands of dollars. The potential downside is you actually have to do the work. One aspect where this is particularly true is when it comes time to show the property to interested buyers. Here are some tips to help you with the process.

First and foremost, it is important to time the showing. If you have multiple parties showing interest in the home, try to set a single time to show the home. The goal is to have them at the property at the same time. This creates the impression there is a lot of interest in the home. This impression will then motivate the buyers to make offers on your property.

A second tip is not to show your home on your own. As sad as it is, there are cranks and weirdoes out there. Make sure you have at least one other person with you when showing the property. If you need some help with this, mortgage brokers are often willing to come to showing. There goal is to snag one of the potential buyers as a mortgage client. Regardless, it gives you multiple people in the home and cuts down on any risk of something bad happening.

The third tip is to get your marketing brochures together. Buyers rarely look at just one home. You want to give them a brochure so they can remember and visual your home. The brochure should contain all the relevant information about your home including price, square footage, unique aspects, your contact information and pictures, pictures, pictures! Did I mention pictures?

Finally, make sure you have a guest book for potential buyers to sign. Ask for them to sign their names and provide a phone number. This will create a record for you of everyone that saw your home. It will also provide you with phone numbers so you can call them back if necessary.

Showing your home is a critical part of the real estate process. Follow these tips and it should go off without a hitch.