M.E. Realty: Should you sell by owner?

Should You Sell By Owner?

Your goal is to sell your home in the shortest time for the most money. You may feel that by NOT hiring a REALTOR and by selling your home yourself you will save on the real estate commission. However, consider the following steps you must take:

Inspect your home. Are there any repairs or improvements needed? Gutters and roof in good condition? New paint-inside and/or out? Plumbing and appliances in working order? Clean windows, walls, floors, garage, etc. A professional Realtor is trained to spot these problems before they become an issue on a contract.
Make all necessary repairs/improvements. All this must be completed before you begin to advertise your home. A professional Realtor knows which repairs you should spend your money on and which you can leave for negotiation.
Analyze competitive market. Investigate properties recently sold or “For Sale” in your immediate area. Don’t forget to research prices and terms of sales in the current real estate market. Over or under pricing your home will assuredly get you a lower sales price. Commanding top dollar in the marketplace requires pricing experience.
Check on Financing. Determine alternatives in financing for your prospective buyers and pre-approve them for purchase before taking your house off of the market for a contract.
Place Yard & Open House Signs. Purchase or design a weather-proof “For Sale” sign for your front yard. Don’t forget “Open House” signs. On the day of your open house they need to be placed in strategic locations around your neighborhood – on main roads. (Don’t forget to remove them after your open houses or the city will.)
Advertise. Check rates for newspaper, homes magazines and television advertising. Create a budget. Write and design an advertisement that will attract the right buyers to your property. One place that won’t be available, however, is the MLS. Only Realtors have access to this powerful listing tool that allows other Realtors and any member of the public to find your home while looking in the area.
Contact out-of-town buyers. Prepare a plan to reach prospective buyers moving to town. Out-of-town buyers account for a major share of today’s homebuyers. When listed with M.E. Realty, your home is listed on the local Multiple Listing Service (MLS), which allows anyone, anywhere to find your home when searching in this area.
Show home to prospective buyers. Make sure you are available, and your property is always prepared, for a showing. A potential buyer may call anytime for information and may even wish to see the home.
Hold Open Houses. Schedule your open house on weekends. To make your property more inviting, place flowers in some of the rooms. Scented candles are a nice touch—and nothing is more inviting than the smell of freshly baked bread or cookies. It is important that you are available to answer prospective buyers questions: information on schools, parks, shopping, churches, etc. Be discreet, buyers may feel uncomfortable with the home owner around.
Pre-Screen prospective buyers. Learn to separate “lookers” from qualified buyers. Ask for names and phone numbers. Follow up with phone calls; be careful not to sound overly anxious.
Negotiate with buyers. Throughout the negotiation it is important to remain calm and to not get personally or emotionally involved with negotiations. This can “make or break” a sale and is one of the most important functions a Realtor serves. Maintaining a knowledgeable, impartial (3rd party) perspective that doesn’t “tip your hand” to the potential buyer is essential.
Home inspection preparation. Many buyers stipulate in their contracts that the offer is contingent upon a favorable inspection. Therefore, find out what will take place when your home is inspected and be prepared to respond to problems that may be uncovered. You must be available when the prospective buyers schedule the inspection. A typical inspection will last one to three hours.
Educate yourself on radon testing. More home buyers are now insisting on radon tests as part of the home buying process. Contact your county public health department, or call the Environmental Protection Agency (EPA) for more information. Your understanding of radon could be your best ally and eliminate problems from buyers.
Finalize sale. Obtain all forms necessary for the legal sale of your property. Your attorney and banker can assist you with all the details. If not, remember to negotiate with the buyer(s) all final terms; such a price, financing, inspections, date of closing, date of possession, etc. A final walk-through should be planned (have a witness present) in order to prevent any disputes.
Purchase your new property. While marketing your current property, locate and negotiate your next purchase. Both transactions should take place at the same time. This schedule will enable you, and the buyer of your property, to move at the same time.

You may be one of those people who are comfortable in the role of “For Sale by Owner”; but if you aren’t, we will be happy to assist you in any way. Call today 514-2607! Our agents are waiting for your call and our appointment will not inconvenience you because we will arrange it around YOUR schedule! And remember, we’re dedicated to giving you superior service. We will sell your home in the Shortest Time – for the Best Price possible and strive to make the sale of your home as Smooth as Possible.