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Selling Options

     When selling your home you have two selling options: to sell it privately or to hire a realtor. Though selling your home yourself may initially seem like a good idea, think about the legalities and technicalities involved. Selling a home requires six to ten trained professionals and you may be under estimating the amount of work involved in selling your own home. The two major problems independent sellers face are; not being able to attract serious buyers and a lack of marketing resources. You will not be able to list your property with MLS and will not be able to provide realtors any incentive to show your home.

     If you have weighed all possible options and still decided that private selling is the way to go, make sure to take the following things into consideration. When independently selling your home, you will have to…

* Decide on the market value of your home (see Pricing).
* Come up with a marketing plan (see Real Estate Marketing)
* Screen all inquiries: most independent home sellers attract those who are 'just looking', or those who are 'looking for a bargain': neither of which is ideal if you hope to sell your home in a timely fashion.
* Know what questions to ask in order to pre-qualify buyers.
* Book all appointments and showings yourself.
* Be available to show your home to prospective buyers.
* Know the legalities and technicalities or potential offers.
* Negotiate all offers, counter offers and final offers.
* Draft, review and organize all of the legal documents.

     Though you will save money in realtor expenses, you will still have to pay for advertising. It may also be a good idea to involve a lawyer, in that; they will be able to inform you of all the steps that need to be taken in regards to necessary documentation. Also consider how long it will take you to sell your home compared to a realtor.

     Decide how quickly you want to sell your home before going ahead with an independent sale. If you are looking for a quick return, independent selling may not be the way to go. Also consider that, the longer a home has been on the market, the less likely it is to sell. If you are not concerned with the length of time it will take to sell your house and you are confident in your home selling knowledge, than this route may be good one to take.