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
* 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.