It's
a question thousands of homeowners ask
themselves every year. If you're one of them,
you have some difficult decisions awaiting
you. Because selling your home can be a long
and complex process. So it's important to
think about all the potential implications
- both positive and negitive - before choosing
to go it alone.
To help you make the decision that's right
for you, below is a list of some of the duties
and responsibilties you would face as an
independent home seller. |
- Independent home sellers
must also
market their properties to the public.
- That means:
- Putting up signage that
is consistent with local ordinances
- Developing and paying
for display and classified ads in your local newspapers
- Holding Open Houses
- Working to ensure your
home gets good word-of-mouth exposure among your friends, neighbors
and community organizations
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- Your first responsilbility
as an independent home seller is assigning your home an accurate value,
meaning the highest price a ready, willing and able buyer will pay.
- As part of that
decision, you need to consider comparable properties in your area,
current market conditions, as well as the cost of financing and its
availability.
- Remember that
your listing should be in line with comparable properties and market
trends - you don't want your home to linger on the market or sell
for a lower price than you might have otherwise received.
- You should also
remember that "For Sale by Owner" homes typically attract
bargain hunters who may expect you to too, are looking to save money
on REALTOR(R) commissions.
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- As an independent
home seller, you would be responsible for all showings of your home.
- With that in
mind, always encourage prospects to make an appointment, and discourage
drop-ins.
- Work to screen
the "buyers" from the "lookers" - curiosity-seekers
are common at "For Sale by Owner" homes.
- You should also
pre-qualify potential buyers to ensure they can afford to buy your
home.
- When the time
comes to negotiate, you'll need to be prepared and informed.
- Try to resolve
any doubts your buyers might have, work to keep their interest high
and make a final agreement as quickly and efficiently as possible.
- Once an offer
is made, agree on the price and terms, respond to objections and try
to be responsive and flexible to legitimate concerns.
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