Monday, March 9, 2020 / by Karey Kendrick
As you know, we created a FREE report highlighting 10 insider tips to selling your home by yourself which will help you sell for the best price in the shortest amount of time.
This report highlights tips real estate agents don't want you to know. On today’s video, I am going to cover the remaining 5 out of 10 Tips.
If you've tried to sell your home yourself, you know that the minute you put the "For Sale by Owner" sign up, the phone will start to ring off the hook. Unfortunately, most calls aren't from prospective buyers, but rather from every real estate agent in town who will start to hound you for your listing.
Like other "For Sale by Owners", you'll be subjected to a hundred sales pitches from agents who will tell you how great they are and how you can't possibly sell your home by yourself. After all, without the proper information, selling a home isn't easy.
Perhaps you've had your home on the market for several months with no offers from qualified buyers. This can be a very frustrating time, and many homeowners have given up their dreams of selling their homes themselves.
But don't give up until you've listened to these videos and ordered our free report entitled "Sell Your Own Home" which has been prepared especially for like you. You'll find that selling your home by yourself is entirely possible once you understand the process.
Today, I am going to be highlighting 5 Tips:
- 1. Pre-Qualify Your Prospects...
- 2. Negotiate Effectively & Knowledgeably...
- 3. Know Your Buyer.
- 4. Don’t Move Out Before You
- 5. Know Why You're Selling and Keep it ...
If you ask anyone who has ever tried their home themselves they'll tell you that from the moment the "For Sale by Owner" sign goes up, the phone begins to ring. Unfortunately, many calls will not be from prospective buyers, but rather from real estate agents looking to obtain your listing. idea of not having to pay a commission to a real estate agent is attractive to any . But because of all involved in the process, selling a home on one's own can be challenging as many will attest to.
The key is to be properly prepared. are not, your home could remain on the market longer than you expect because you are not attracting and getting offers from qualified buyers. This can point where many homeowners become frustrated and consider giving up their dream of selling their home themselves. However, there are sellers who their own homes, very well. You can be one of them.
These tips have been to assist , such as yourself, understand the elements involved so you, on your own, can sell your home quickly and for the most amount of profit. To help you are the 5 inside tips that you should be aware of before you make the decision as to whether or not this is the right approach for you. (And don’t forget to tune in next week for Part 2 of How to Sell Your Home By Yourself Series.
Pre-Qualify Your Prospects...
your time entertaining buyers who could never afford your home. Research their with respect to job security, salary, debts, liabilities and credit standing.
Negotiate Effectively & Knowledgeably...
There will be many details to resolve before a be considered final: price, terms, inspections, possession date, buyer concerns and objections. Make sure you fully understand the contract drawn up so you can in turn explain details and ramifications to the buyer and make any amendments to the sale that are necessary. you use should be thoroughly examined by your real estate attorney. Some real estate be willing to help you do this. While this on, manage the buyer’s interest in your home so that it doesn’t wane during negotiations.
Know Your Buyer...
Your objective is to control the pace and set the duration. Try to determine what your is. Does he or she need to ? Do they have enough money to pay price? Knowing this information will the advantage in the negotiation because you will know up front, what you will need to do in order to get what you want.
Don’t Move Out Before You Sell...
shown that it is more difficult to sell a home that is vacant. It looks forlorn, forgotten, appealing. It could even cost you money. move, you’re also telling buyers that you have a new home and are motivated to sell fast which can, of course, give them an advantage at the negotiating table.
Know Why You're Selling and Keep it ...
The flip side of “understanding your buyer” is to “understand yourself”. for selling will affect everything from your list price to how much time and money you will invest in getting your home ready for sale. will help you determine what is more important to you: the money you walk away with, the length of time your property is on the market, or both. Different goals will dictate . As someone who wants to sell without estate agent in an effort to save the commission, it is likely that money is one of your primary considerations, (see inset box below). Whatever your reasons, however, it is to keep them to yourself so as not to place yourself at a disadvantage at the negotiation table. When asked, simply say your housing changed.
How to Assess Your Net Gain when Selling as a By Owner
To analyze whether or not you will end up ahead by choosing to sell on your own, consider the fact that most buyers do use a real estate agent because it doesn’t cost them anything for this service (i.e. the seller pays the agent’s fee). Be cautious as buyers, investors and speculators who seek out For Sale by Owners are typically those in search of a bargain.
The low-ball offers from these types of buyers will often net you much lower in the long run. What you will have to judge for yourself is the following:
- Be as prepared as possible with your marketing, negotiations, evaluations, showings and all legalities.
- Consider what it will cost you to effectively market your home and assemble all necessary materials from the “for sale” sign to any contracts?
- What price will a buyer offer you as a For Sale by Owner minus the costs identified in point 2 above. Is this net price higher than the price an experienced agent could net for you minus his/her commission?
Thanks for Watching. If you enjoyed this video and you feel like it was valuable in educating you on things you can do to help with the home selling process, subscribe to our channel, like this video and share this video with your friends.
Check out Next Weeks Video on Mistakes to Avoid When Trading up to a Larger Home! Thanks again for watching.