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Attention: For Sale By Owners!
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. Why?
Many FSBO's told us that the time, paperwork and everyday responsibilities
involved were not worth the amount of money they saved in commissions.
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 end.
Questions To Consider:
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 serious (lookie-loos)?
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 quickly.
Settling for a low-ball bid is usually worse than paying broker commissions.
Am I offering financing options to the buyer?
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 more profitably.
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 procedures, consequences 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 legally-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 myself?
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 company?
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.
Am 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).
Click 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.
Sound simple?
It is. It should be. It will
be.
Sincerely,
Jonathan Phillips
Use this form to contact me directly:
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Jonathan Phillips
Principal Broker
Phillips Realty LLC
917 Pacific Avenue
Suite 413
Tacoma, WA 98402
Office: 1-888-LISTING
Email:
info@phillipsrealtyllc.com
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