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For Sale By Owner: 14 Questions To Ask Before You Wait

The number one reason home sellers try to sell their home themselves is to save money or facilitate an unconventional arrangement with a buyer for a unique reason. Whatever the motivation, it’s important to ask yourself these questions to get an overview of what selling your home will entail. If you have any additional questions regarding the sale of your home, please contact a local agent for a free consultation. Also, don’t get discouraged if you don’t like the first one you come in contact with. It is normal for a seller to look for the right agent. Buying and selling homes will be one of the most important transactions of your life, and should be treated as such by you and a potential agent.

Have you asked yourself…

1. Do you have the knowledge, time, and sales skills necessary to sell your home?

2. If a potential buyer makes aggressive offers, will he be able to negotiate strategically for himself?

3. Do you know how to analyze market data and comparable homes to determine your home’s exact value?

4. Are you aware of real estate trends that could affect the sale price and when to sell your home?

5. Do you know how to understand a buyer’s finances and qualification for a loan?

6. Are you worried about letting strangers into your home?

7. Do you have sufficient knowledge in real estate contracts to create a legally binding contract, acquire all necessary documents and signatures, and include counter offers in accordance with regulation?

8. Did you know that without a real estate agent, you are essentially taking your home off the market every time you leave your home?

9. Did you know that many professional services and people are required to close the sale, including a title and escrow company, a home warranty company, pest control and inspection services, and a lender? Do you currently have these relationships in place?

10. Do you know if you need a real estate attorney to help with this transaction, how much it will cost, and how much liability you will bear?

11. Do you have marketing experience, specifically real estate, and the funds to allocate to your strategy?

12. Did you know that potential buyers will likely expect your price to drop because there is no real estate agent paying a commission?

13. Did you know that there are advantages and disadvantages for the seller depending on the type of loan that the buyer chooses?

14. Are you prepared to spend a lot of time, during nights and weekends, when it is most convenient for potential buyers, to show your house?

Before you decide to sell your home yourself, consider the benefits a real estate agent can provide you that you may not currently be aware of. Because transactions facilitated by a real estate agent typically sell at 15% higher price points, the benefits you receive from paying your real estate agent your average 6% commission typically far outweigh the benefits of selling. his house alone.

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