Attention: For Sale By
Why People Are Afraid To Buy From You!
Many homeowners believe that to maximize their profit on a home sale,
they should sell it themselves. At first glance, they feel selling a
home is simple, and why should they pay a broker fees for something
they could do themselves? In fact, close to 12% of all the homes sold
last year were sold for sale by owner (FSBO).
However, close to half of the FSBO's said
that they would hire a professional next time they sold. Thirty percent
said they were unhappy with the results they achieved by choosing FSBO.
Many FSBO's told us that the time, paperwork and everyday
responsibilities involved were not worth the amount of money they saved
For others, the financial savings were even
more disappointing. By the time they figured the amount of fees paid to
outside consultants, inspectors, appraisers, title lawyers, escrow and
loan officers, marketing and advertising, they would have been better
off having paid the broker's fee which would have included many of
these charges up front.
Selling a home requires an intimate understanding of the real estate
market. If the property is priced too high, it will sit and develop a
reputation for being a problem property. If the property is priced too
low, you will cost yourself serious money.
Some FSBO's discovered that the lost money
as a result of poor decisions outweighed the commission. Before you
decide to sell FSBO, consider these questions and weigh the answers of
assuming the responsibility versus employing a professional.
A little time spent investigating up front will pay off tenfold in the
Do I have the time, energy, know-how, and
ability to devote a full forced effort to sell my home?
One of the keys to selling your home efficiently and profitably is
complete accessibility. Many homes have sat on the market much longer
than necessary because the owner was unwilling or unavailable to show
the property. Realize that a certain amount of hours each day is
necessary to sell your home.
Am I prepared to deal with an onslaught of
buyers who perceive FSBO's as targets for low balling or just aren't
One of the challenges of selling a home is screening unqualified
prospects and dealing with low-ballers. It often goes unnoticed how
much time, effort and expertise it requires to spot these people
Settling for a low-ball bid is usually worse than paying broker
Am I offering financing options to the
Am I prepared to answer questions about financing?
One of the keys to selling, whether it's a home, a car, anything, is to
have all the necessary information the prospective buyer needs and to
offer them options.
Think about the last time you purchased something of value. Did you
make a decision before you had all your ducks in a row? By offering
financing options, you give the home buyer the ability to work on their
terms and open up the possibilities of selling your home quickly and
A professional real estate agent will have a complete team- from
lenders to title reps- for you to utilize; they'll be at your disposal.
Do I fully understand the legal
ramifications and necessary steps required in selling a home?
Many home sales have been lost due to incomplete paperwork, lack of
inspections or not meeting your states disclosure laws. Are you
completely informed of all the steps necessary to sell real estate? Do
you have all of the legall-required forms and know how to fill them in
properly? Are you prepared for legal consequences if you do
not do things exactly as they are supposed to be done? If
not, a professional would be a wise choice.
Do I have any sort of insurance
that will protect me from lawsuits because I handled my home sale
Homeowner insurance does not cover you for this type of legal
action. You would be well advised to see if you can take out
a policy for this specific transaction...if you can find an insurance
company that would be willing to cover you.
Do I have the capability of handling the
legal contracts, agreements and any disputes with buyers before or
after the offer is presented?
Ask yourself if you are well versed in legalese and if you are prepared
to handle disputes with buyers. To avoid any disputes, it is wise to
put all negotiations and agreements in writing. Many home sales have
been lost due to misinterpretation of what was negotiated.
Have I contacted the necessary
professionals... title, inspector (home and pest), attorney and escrow
Are you familiar with top inspectors and escrow companies?
Don't randomly select inspectors, attorneys, and title reps. Like any
profession, there are inadequate individuals who will slow, delay and
possibly even cost you the transaction. If these questions raise some
concerns, you may want to speak with a professional.
I ready to have random strangers walk through my family's home, at all
hours of the day and night, without knowing who they are or what their
motives are, and showing them everything inside the house?
SECURITY is a very real and present concern to Real estate agents and
brokers. We have all spent days in training about
SECURITY. Many agents and brokers are assaulted every year,
and we take precautions! We meet buyers at our offices, ask
for ID, photocopy it and let others know we're going out, take license
plates, etc. Can you do this as a seller?
I sincerely hope
these tips and ideas are of value to you. I have prepared a 23 page
report just for the Unrepresented Seller (FSBO).
on the book below to INSTANTLY receive a copy! No obligation,
no sign-ups, no registration, no fooling!
For Sale By Owner 101
When you're ready, come back and fill in the
information below to let me know that you're ready to get started.
It is. It should be. It will be.
this form to contact me directly:
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Phillips Realty LLC
917 Pacific Avenue
Tacoma, WA 98402