Considering selling your home as a For Sale by Owner?
With the market prices slipping and the rate of foreclosures rising every day; is it time to sell your home as a for sale by owner? The answer to this depends on what you as the seller are willing to commit to doing. There are many things involved in selling a home, without an agent, you are committing yourself to tackling all of these tasks independently.
Here are some of the tasks that are involved in selling a home.
You will need to complete a analysis of the market. This comprehensive analysis must include homes within your neighborhood and city and include homes with features similar to yours.
In order to sell your home quickly, you will need an accurate valuation. You must price your home competitively so you can sell quickly, yet still ensure yourself a profit.
You will need to create a marketing campaign. You need to highlight that your home is priced well and stands out among the competition.
You need to be able to network with real estate professionals to make them aware of your home as they may have potential buyers.
You will need an advertising plan for your local area and an internet campaign for any out of area potential buyers.
You will need legal counsel in order to ensure that all documents are handled correctly and to limit any potential legal actions.
You will need to have open houses, schedule home showings and be available at all times for interested buyers to contact you.
You will need good negotiation skills in order to negotiate any offers. You will also need to be able to differentiate between fair and unfair offers.
You will need to understand how cash offers will work and as well as the process of loan offers.
You will need to understand what contingencies to accept and what contingencies are not appropriate.
As you can see selling a home for sale by owner is a complicated manner and you will need a vast skill set to ensure that your home sells and you are protected against future legal matters. In reality, selling your home with a licensed real estate agent is well worth the modest commission that you pay.
Please contact Zhanna Shiman at Prudential Douglas Elliman Real Estate in order to set up a consultation appointment so we can work with you and get you the best possible results in selling your home.
Contact Zhanna Shiman today at 718.673.9370 or e-mail her.