Selling your home by yourself (going the route of For Sale By Owner) can be a confusing thing. Tatiana Talan hopes to clear up some of that confusion by sharing what to expect when you are selling your home without an agent and some of the pitfalls that may come.
One of the biggest reasons people choose to do For Sale by Owner is to save the money on real estate commissions. The biggest downside of this is it takes much more time than the might think, and it involves financial and legal risk. Your mistakes can cost you more money than you are trying to save. This doesn’t mean that you can’t do it by yourself, and, I have a few tips to help you.
- The biggest mistake seller’s make is setting the price too high. Sellers need to do their own research on the prices on the houses in the area: houses similar in size, location and condition. If you set the price too high, that reduces buyer’s interest. And most likely, the home will be sitting on the market much longer, costing you time and money.
- Next, is lack of exposure. Having your home on MLS is the best tool to bring in more buyers, since it is the most common tool that all realtors use. And serious buyers prefer to work with realtors to get professional help and advice.
- Another common mistake is not being responsive to potential buyers. It’s hard to keep up with all of the emails and phone calls from potential buyers, as well as accommodating all the showings. If buyers don’t get the response right away, they just move on to the next property they’re looking at. Wasting your time on people who are not qualified to purchase your home can also lead to delays and issues with closing, if closing at all.
- Most our sellers are also not used to negotiating their sales price and terms, such as: earnest money, inspections, appraisals, and other common things that professional realtors do everyday.
If you’re considering selling your home on your own, while currently on the market, trying to sell it by yourself and running into some of these pitfalls, please give me a call or comment below, and I will be able to help you avoid them. My number is 858-500-0009. Thanks for watching.
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