What is for sale by owner?
Selling by owner or owner-assisted real estate is the process of selling your own home without the help of a real estate agent. While most may not have heard of the For Sale By Owner approach or believe it to be a permissible practice, rest assured that it has been around for a long time and is 100% legal, despite what an agent might do. of real estate. tell you. Most people who use the owner-owned method of selling real estate are property investors and those looking to earn an extra dollar or two by selling their home or investment property.
How does it work?
Selling your own property is a multi-faceted process that only the brave usually go through, but if you do your research, like reading this article, you’ll be fine. First, you need to think about how you are going to market the property, such as writing copy for the listing, taking pictures for the property, etc. This is something that doesn’t cost you a hundred and can be done in just over an hour, all you need to do is sit down and write a description of your property and then walk around your house taking some nice photos that will attract potential buyers.
The next step is the negotiation and sales side of the process. It would be wise (if you haven’t had previous sales experience) to talk to someone you know who knows the art of sales and negotiation, like a friend. It would also be wise to talk to a lawyer or transfer agent about the contracts and agreements for the sale of your property.
How much?
When it comes to selling your own home, it will only cost what you would like it to cost. Below are some of the things you may need to consider purchasing when you’re down the Selling By Owner path.
- Publication of your property (free and paid options)
- Photographer (Optional)
- For sale signage (optional)
- Carrier / Lawyer (Essential)
Are there hidden surprises?
If you do your research, no. The whole Sell By Owner concept is pretty transparent and you have full control over the process, the only problem is that you have to do most of the work yourself. Create your property listing or advertisement, take pictures of your property, post them online, erect “For Sale” signs in front of the property for sale, handle inquiries, negotiate with potential buyers, seal the deal and have contracts or written agreements. up.
It may seem like a lot to do, but when you think about it, most of the work goes into advertising the property, which can take as little as an hour, depending on how quickly you can write a rant about your property and how good it is. to be. they’re with a digital camera, the rest is just taking phone calls and having someone like a carrier draw up the contracts for the sale of your property.
